Saturday 17 October 2026 Export INOD’s income statement to Excel — free account

Innodata Inc

INOD Technology Information Technology Services

Innodata Inc’s revenue for fiscal 2025 (year ended December 2025) was $251.7 million, up 47.6% from fiscal 2024. In the quarter to June 2026, revenue grew 57.8%, EPS grew 87.0%, free cash flow grew 4,885.7% and total debt rose 771.4%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.

52.82 3.75 −6.63%

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Market cap: $2.0B
P/E: 36.9×
Fwd P/E: 94.5×
Dividend yield: —
F-score: 6/9
Altman Z: 19.10
Beneish M: −2.42
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 175.43

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	2	1	—	—	—	—	13	2	—	—	2	—

Insider Ownership 2.23%

Capital & Financial Ratios $m

Market Cap 1,950.00

Revenue 317.16

Net Income 46.49

Free Cash Flow 183.85

Net Debt (172.21)

Current Ratio 1.73

Debt/Equity 0.49

P/E ratio 36.94

Fwd P/E 94.50

P/S ratio 5.57

P/B ratio 11.08

Past 5Y EPS Growth 115.06%

This Y EPS Growth 34.06%

Next Y EPS Growth 31.16%

Next Y revenue growth 42.89%

Next 5Y EPS Growth 13.46%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 17.04%

10-year low 10-year high

P/S against its own 10 years 84.63%

10-year low 10-year high

P/B against its own 10 years 73.76%

10-year low 10-year high

EV/Sales against its own 10 years 83.16%

10-year low 10-year high

EV/FCF against its own 10 years 4.80%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	14	47	82	250
Receivables	14	28	47	48
Inventory	—	—	—	—
Other	—	—	—	—
	32	81	135	321

	2023	2024	2025	Q'26
Payables	3	5	10	53
ST’ Debt	1	2	2	69
Other	—	—	—	—
	23	40	51	186

Compound Annual Growth %

	10y	5y	3y
Sales	15.70%	34.00%	47.14%
Cash Flow	33.20%	52.54%	0.00%
Earnings	0.00%	120.53%	0.00%
Book Value	10.85%	29.29%	78.66%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	90	92	—	—	—
’25	58	58	63	72	252
’24	27	33	52	59	170
’23	19	20	22	26	87
’22	21	20	18	19	79
’21	16	17	17	19	70
’20	15	14	15	15	58

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	37	127	—	—	—
’25	11	4	19	13	47
’24	7	0	11	17	35
’23	2	2	2	0	6
’22	(1)	(2)	2	0	(1)
’21	1	5	0	0	5
’20	1	3	2	0	6

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	35	124	—	—	—
’25	8	2	15	10	36
’24	5	(3)	10	15	27
’23	0	1	0	(1)	0
’22	(3)	(4)	1	(1)	(8)
’21	0	4	(1)	(2)	1
’20	0	2	2	0	4

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.42	0.41	—	—	—
’25	0.22	0.20	0.24	0.25	0.92
’24	0.03	0.00	0.51	0.31	0.89
’23	(0.08)	(0.03)	0.01	0.05	(0.03)
’22	(0.10)	(0.14)	(0.12)	(0.07)	(0.44)
’21	0.01	0.00	(0.03)	(0.04)	(0.06)
’20	(0.01)	(0.02)	0.01	0.04	0.02

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	1.90	0.88	0.96	0.88	0.75	4.81	2.78	2.96	5.46	26.41	Analyst estimates 2026–2028 Powerpack
	High	2.83	2.45	2.05	1.70	6.25	11.25	9.00	15.36	55.17	93.85
People
People	Employees	4,750	3,944	3,147	3,640	3,769	4,931	4,209	4,325	6,648	10,107
	Revenue/emp, $m	0.01	0.02	0.02	0.02	0.02	0.01	0.02	0.02	0.03	0.02
Income, $m
Income, $m	Revenue	63	61	57	56	58	70	79	87	170	252
	Gross margin, %	25.14	24.79	31.55	33.18	34.07	37.65	34.77	36.06	39.35	39.53
	EBT	(5)	(5)	2	(1)	1	(1)	(10)	0	24	41
	EBT margin, %	(7.59)	(8.33)	2.72	(1.91)	1.79	(1.38)	(13.27)	0.16	14.36	16.46
	Net income	(6)	(5)	0	(2)	1	(2)	(12)	(1)	29	32
	Depreciation	3	4	4	3	2	3	4	5	6	7
Per share, $
Per share, $	Revenue	2.47	2.36	2.22	2.17	2.37	2.62	2.90	3.08	5.85	7.91
	Earnings	(0.22)	(0.20)	(0.01)	(0.08)	0.03	(0.06)	(0.44)	(0.03)	0.98	1.01
	Cash flow	(0.11)	0.02	0.14	0.17	0.23	0.19	(0.04)	0.21	1.20	1.47
	Capex	(0.11)	(0.13)	(0.08)	(0.06)	(0.06)	(0.16)	(0.24)	(0.20)	(0.27)	(0.35)
	Free cash flow	(0.21)	(0.11)	0.06	0.10	0.17	0.03	(0.28)	0.01	0.93	1.12
	Book value	1.32	1.21	1.15	0.99	1.20	1.12	0.69	0.91	2.17	3.37
	Shares, m	26	26	26	26	25	27	27	28	29	32
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	176.67	0.00	0.00	0.00	40.74	49.95
	P/S	0.95	0.54	0.68	0.53	2.24	2.26	1.06	2.53	6.76	6.44
	P/B	1.78	1.05	1.30	1.15	4.40	5.27	4.45	8.53	18.18	15.14
	EV/Sales	0.81	0.48	0.58	0.44	2.07	2.10	1.00	2.46	6.54	6.16
	EV/FCF	(9.29)	(10.53)	21.86	9.37	28.20	186.77	(10.22)	629.38	41.07	43.46
Cash, $m
Cash, $m	Operating cash flow	(3)	1	4	4	6	5	(1)	6	35	47
	Capex	(3)	(3)	(2)	(2)	(1)	(4)	(7)	(6)	(8)	(11)
	Free cash flow	(5)	(3)	2	3	4	1	(8)	0	27	36
Balance, $m
Balance, $m	Working capital	14	10	12	8	14	13	3	9	41	85
	Total debt	5	8	6	6	8	7	6	8	8	9
	Net debt	(9)	(4)	(5)	(5)	(10)	(11)	(4)	(6)	(39)	(73)
	Shareholders’ equity	34	31	30	26	30	30	19	26	63	107
Returns, %
Returns, %	ROA	(11.18)	(10.59)	(0.55)	(4.54)	1.16	(2.87)	(22.25)	(1.69)	33.16	22.82
	ROIC	(11.97)	(11.57)	4.06	(2.87)	3.68	(5.57)	(45.36)	1.00	61.14	73.05
	ROE	(15.35)	(15.58)	(0.83)	(7.74)	2.24	(5.62)	(49.01)	(4.08)	64.34	37.76

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
CHRN ChronoScale Holdings Corporation	$2.3B	— (loss-making)	— (loss-making)	+148.13% (above 0%: growing)	n/m	+653.15% (above 0%: growing)	(9.99%)	(59.99%)	Compare
DXC DXC Technology Company.	$2.2B	18.7×	14.8×	−5.06% (below 0%: shrinking)	+733.33% (above 0%: growing)	+149.64% (above 0%: growing)	20.37%	0.53%	Compare
INOD Innodata Inc	$2.0B	36.9×	94.5×	+57.80% (above 0%: growing)	+86.96% (above 0%: growing)	+4,885.72% (above 0%: growing)	46.08%	17.21%
PONY Pony AI Inc. - Sponsored ADR	$1.8B	— (loss-making)	— (loss-making)	+68.82% (above 0%: growing)	n/m	−73.21% (below 0%: shrinking)	17.53%	(181.51%)	Compare
FORTY Formula Systems (1985) Ltd.	$1.8B	2.7×	13.9×	+29.82% (above 0%: growing)	+55.10% (above 0%: growing)	+1,330.84% (above 0%: growing)	20.25%	9.16%	Compare
CNXC Concentrix Corporation	$1.7B	— (loss-making)	7.0×	−1.19% (below 0%: shrinking)	n/m	+38.49% (above 0%: growing)	34.60%	(37.10%)	Compare
GLOB Globant S.A.	$1.7B	15.3×	10.6×	+0.04% (above 0%: growing)	n/m	+476.16% (above 0%: growing)	33.89%	3.23%	Compare
EFOR Everforth Inc.	$1.6B	19.7×	14.3×	−1.33% (below 0%: shrinking)	−47.76% (below 0%: shrinking)	−60.02% (below 0%: shrinking)	28.26%	4.08%	Compare
KEEL Keel Infrastructure Corp	$1.6B	— (loss-making)	— (loss-making)	−50.04% (below 0%: shrinking)	n/m	−772.56% (below 0%: shrinking)	(285.09%)	(462.62%)	Compare
Median of peers	$1.7B	17.0×	13.9×	−0.58%	+55.10%	+94.07%	20.31%	(18.28%)

All 73 Information Technology Services stocks →

Innodata Inc (INOD) key facts

Strength: Innodata Inc’s revenue for fiscal 2025 (year ended December 2025) was $251.7 million, up 47.6% from fiscal 2024.
Innodata Inc (INOD) is an Information Technology Services company in the Technology sector, listed on Nasdaq.
As of October 16, 2026, INOD traded at $52.82, a market capitalization of $2.0 billion.
Return on equity was 37.8% and debt-to-equity 0.49.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 19.10 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.