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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.

Revenue
+57.8%
EPS
+87.0%
Free cash flow
+4,885.7%
Total debt
+771.4%

Quarter to June 2026, against a year earlier

36.79 1.83 −4.74%
Market cap
$1.3B
P/E
25.7×
Fwd P/E
36.1×
Dividend yield
—
F-score
6/9
Altman Z
19.10
Beneish M
−2.42
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 160.85
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — — — — 13 2 — — 2 — —
Insider Ownership 2.23%

Capital & Financial Ratios $m

Size
Market Cap 1,330.00
Revenue ttm 317.16
Net income ttm 46.49
Free cash flow ttm 183.85
Net debt Q (172.21)
Valuation
P/E 25.73
Forward P/E 36.10 (above 35: high)
Price / sales 3.88
Forward P/S Powerpack
Price / FCF 6.70
Price / book 7.72 (above 6: high)
Financial health
Current ratio Q 1.73 (at or above 1.5: strong)
Debt / equity Q 0.49 (at or below 0.5: strong)
Interest coverage Q (9.36)
Growth
Revenue growth Q +57.80% (above 0%: growing)
Operating income growth Q +77.98% (above 0%: growing)
EPS, this year +34.06% (at or above 15%: strong)
EPS, next year A +31.16% (at or above 15%: strong)
Revenue, next year A +42.89% (at or above 10%: strong)
EPS, past 5 yrs +115.06% (at or above 15%: strong)
EPS, next 5 yrs A +13.46%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.3×, against a ten-year median of 1.7×; over the ten years it ranged from 0.3× in 2020 to 11.7× in 2026.
P/E against its own 10 years 1.76%
10-year low 10-year high
P/S against its own 10 years 74.89%
10-year low 10-year high
P/B against its own 10 years 64.48%
10-year low 10-year high
EV/Sales against its own 10 years 72.91%
10-year low 10-year high
EV/FCF against its own 10 years 0.05%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

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%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.21 Actual 0.41

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.14 0.24 Beat by 0.10
Q4 FY25 0.21 0.25 Beat by 0.04
Q1 FY26 0.13 0.42 Beat by 0.29
Q2 FY26 0.21 0.41 Beat by 0.20
Q3 FY26 0.21 — Reports 5 November 2026

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.

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.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 63 61 57 56 58 70 79 87 170 252 317 +16.6% 360 460 — +35.2%
Gross margin, % 25.14 24.79 31.55 33.18 34.07 37.65 34.77 36.06 39.35 39.53 42.71 +14.4 pt
EBT (5) (5) 2 (1) 1 (1) (10) 0 24 41 58 n/m
EBT margin, % (7.59) (8.33) 2.72 (1.91) 1.79 (1.38) (13.27) 0.16 14.36 16.46 18.42 +24.1 pt
Net income (6) (5) 0 (2) 1 (2) (12) (1) 29 32 46 n/m
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 9.48 +13.8%
Earnings (0.22) (0.20) (0.01) (0.08) 0.03 (0.06) (0.44) (0.03) 0.98 1.01 1.43 n/m
Cash flow (0.11) 0.02 0.14 0.17 0.23 0.19 (0.04) 0.21 1.20 1.47 5.86 n/m
Capex (0.11) (0.13) (0.08) (0.06) (0.06) (0.16) (0.24) (0.20) (0.27) (0.35) (0.37) +14.0%
Free cash flow (0.21) (0.11) 0.06 0.10 0.17 0.03 (0.28) 0.01 0.93 1.12 5.49 n/m
Book value 1.32 1.21 1.15 0.99 1.20 1.12 0.69 0.91 2.17 3.37 4.77 +10.9%
Shares, m 26 26 26 26 25 27 27 28 29 32 32 +2.5%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 176.67 0.00 0.00 0.00 40.74 49.95 25.73 26.7
P/S 0.95 0.54 0.68 0.53 2.24 2.26 1.06 2.53 6.76 6.44 3.88 2.4
P/B 1.78 1.05 1.30 1.15 4.40 5.27 4.45 8.53 18.18 15.14 7.72 6.1
EV/Sales 0.81 0.48 0.58 0.44 2.07 2.10 1.00 2.46 6.54 6.16 3.34 2.3
EV/FCF (9.29) (10.53) 21.86 9.37 28.20 186.77 (10.22) 629.38 41.07 43.46 5.76 93.0
Cash, $m
Cash, $m Operating cash flow (3) 1 4 4 6 5 (1) 6 35 47 196 n/m
Capex (3) (3) (2) (2) (1) (4) (7) (6) (8) (11) (12) +16.8%
Free cash flow (5) (3) 2 3 4 1 (8) 0 27 36 184 n/m
Balance, $m
Balance, $m Working capital 14 10 12 8 14 13 3 9 41 85 135 +21.8%
Net debt (9) (4) (5) (5) (10) (11) (4) (6) (39) (73) (172) +26.0%
Shareholders’ equity 34 31 30 26 30 30 19 26 63 107 160 +13.7%
Returns, %
Returns, % ROA (11.18) (10.59) (0.55) (4.54) 1.16 (2.87) (22.25) (1.69) 33.16 22.82 19.00 +34.0 pt
ROIC (11.97) (11.57) 4.06 (2.87) 3.68 (5.57) (45.36) 1.00 61.14 73.05 0.00 +85.0 pt
ROE (15.35) (15.58) (0.83) (7.74) 2.24 (5.62) (49.01) (4.08) 64.34 37.76 37.75 +53.1 pt
People
People Employees 4,750 3,944 3,147 3,640 3,769 4,931 4,209 4,325 6,648 10,107 — +8.8%
Revenue/emp, $m 0.01 0.02 0.02 0.02 0.02 0.01 0.02 0.02 0.03 0.02 — +7.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Innodata Inc vs peers in Information Technology Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MGRT Mega Fortune Company Limited $1.6B — — — — — — — Compare
PONY Pony AI Inc. - Sponsored ADR $1.6B — (loss-making) — (loss-making) +68.82% (above 0%: growing) n/m −73.21% (below 0%: shrinking) 17.53% (181.51%) Compare
CLVT Clarivate PLC $1.5B — (loss-making) — (loss-making) −9.18% (below 0%: shrinking) n/m −4.59% (below 0%: shrinking) 71.14% 8.33% Compare
CHRN ChronoScale Holdings Corporation $1.5B — (loss-making) — (loss-making) +148.13% (above 0%: growing) n/m +1,410.88% (above 0%: growing) (9.99%) (59.99%) Compare
EFOR Everforth Inc. $1.5B 21.0× 24.3× +1.98% (above 0%: growing) −35.98% (below 0%: shrinking) −35.42% (below 0%: shrinking) 28.27% 5.49% Compare
VYX NCR Voyix Corporation $1.4B 13.2× 41.4× −21.20% (below 0%: shrinking) n/m +91.55% (above 0%: growing) 32.84% 7.79% Compare
INOD Innodata Inc $1.3B 25.7× 36.1× +57.80% (above 0%: growing) +86.96% (above 0%: growing) +4,885.72% (above 0%: growing) 46.08% 17.21%
GDYN Grid Dynamics Holdings, Inc. $1.1B 146× 79.6× +9.73% (above 0%: growing) +449.64% (above 0%: growing) +349.88% (above 0%: growing) 40.32% 7.99% Compare
BBAI BigBear.ai Holdings, Inc. $1.1B — (loss-making) — (loss-making) +31.49% (above 0%: growing) n/m +10.27% (above 0%: growing) 31.19% (229.36%) Compare
Median of peers $1.5B 21.0× 41.4× +9.73% — +10.27% 31.19% 5.49%

All 81 Information Technology Services stocks →

Pay and ownership Proxy statement filed 24 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 12.05m 16.15m 875.43
2024 6.70m 33.19m 679.04
2023 958.70k 6.63m 139.86
2022 3.63m 2.08m 51.03

Ownership

Directors and executive officers, together 11.80%
Jack S. Abuhoff 9.40%
BlackRock, Inc. 5.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Innodata Inc (INOD) Latest News

6 Nov

Impact 4 · · The Motley Fool transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · GuruFocus.com

5 Nov

Impact 4 · · ACCESS Newswire
Impact 3 · · Zacks

2 Nov

Impact 3 · · Zacks

29 Oct

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Impact 3 · · The Motley Fool
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28 Oct

Impact 4 · · Zacks
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27 Oct

Impact 4 · · TIKR
Impact 4 · · The Motley Fool
Impact 3 · · Zacks
Impact 3 · · Investing.com

21 Oct

Impact 4 · · Zacks
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18 Oct

Impact 4 · · Simply Wall St.

15 Oct

Impact 4 · · Zacks

13 Oct

Impact 4 · · The Motley Fool
Impact 3 · · The Motley Fool

12 Oct

Impact 4 · · Zacks

11 Oct

Impact 4 · · Simply Wall St.

7 Oct

Impact 3 · · Zacks

3 Oct

Impact 4 · · Simply Wall St.

2 Oct

Impact 4 · · The Motley Fool
Impact 4 · · Zacks

30 Sep

Impact 4 · · ACCESS Newswire

29 Sep

Impact 4 · · The Motley Fool
stockrow.com/INOD · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com