INOD · Innodata Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $90.10M | - | $62.55M | $58.39M | $26.50M | - | $52.22M | $32.55M | $26.50M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | $21.33M | $9.35M | $9.63M | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $22.89M | - | $13.74M | $14.11M | $14.98M | - | $9.91M | $9.02M | $8.30M | - |
| Total Operating Expenses | $72.75M | - | $50.37M | $48.91M | $49.95M | - | $40.78M | $32.28M | $25.09M | - |
| D&A | $2.18M | - | - | - | $1.56M | - | - | - | $1.27M | - |
| Operating Income | $17.34M | - | $11.42M | $8.91M | $1.33M | - | $11.45M | $276.0K | $1.41M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $2.44M | - | $3.84M | $2.27M | $612.0K | - | ($5.94M) | $285.0K | $424.0K | - |
| Net Income | $14.90M | - | $8.34M | $7.22M | $7.79M | - | $17.39M | ($14.0K) | $989.0K | - |
| EPS - Basic | $0.46 | - | $0.26 | $0.23 | $0.25 | - | $0.60 | $0.00 | $0.03 | - |
| EPS - Diluted | $0.42 | - | $0.24 | $0.20 | $0.22 | - | $0.51 | $0.00 | $0.03 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $117.37M | $82.23M | $73.86M | $59.79M | $56.56M | $46.88M | $26.36M | $16.51M | $18.98M | $13.81M |
| Accounts Receivable | $45.94M | $46.51M | $39.44M | $34.12M | $29.58M | $28.01M | $23.19M | $18.16M | $14.06M | $14.29M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $4.18M | $9.62M | $4.39M | $4.49M | $4.50M | $4.55M | $3.49M | $3.73M | $2.09M | $2.66M |
| Current Assets | $173.79M | $135.39M | $119.78M | $100.69M | $92.35M | $81.00M | $54.78M | $38.34M | $36.87M | $32.08M |
| Total Assets | $210.41M | $168.59M | $152.92M | $132.62M | $125.21M | $113.45M | $88.17M | $65.97M | $63.57M | $59.43M |
| Current Liabilities | $69.77M | $50.53M | $44.52M | $35.12M | $39.13M | $39.51M | $29.79M | $26.37M | $25.27M | $22.93M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $82.23M | $61.53M | $55.68M | $45.98M | $49.81M | $50.06M | $41.16M | $37.70M | $36.72M | $34.44M |
| Stockholders' Equity | $128.26M | $107.14M | $97.32M | $86.72M | $75.48M | $63.47M | $47.71M | $28.97M | $27.56M | $25.70M |
| Retained Earnings | $66.06M | $51.16M | $42.33M | $33.98M | $26.76M | $18.98M | $8.68M | ($8.71M) | ($8.69M) | ($9.68M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $37.26M | - | - | - | $10.87M | - | - | - | $6.77M | - |
| Investing Cash Flow | ($2.42M) | - | - | - | ($2.35M) | - | - | - | ($1.34M) | - |
| Financing Cash Flow | $901.0K | - | - | - | $860.0K | - | - | - | ($291.0K) | - |
| CapEx | $2.42M | - | - | - | $2.35M | - | - | - | $1.34M | - |
| Free Cash Flow | $34.84M | - | - | - | $8.52M | - | - | - | $5.43M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | 34.1% | 16.0% | 36.4% | - | - | - | - | - |
| Operating margin | 19.2% | - | 18.3% | 15.3% | 5.0% | - | 21.9% | 0.8% | 5.3% | - |
| EBITDA margin | 21.7% | - | - | - | 10.9% | - | - | - | 10.1% | - |
| Net margin | 16.5% | - | 13.3% | 12.4% | 29.4% | - | 33.3% | -0.0% | 3.7% | - |
| Free cash flow margin | 38.7% | - | - | - | 32.1% | - | - | - | 20.5% | - |
| FCF / Net income | 2.34 | - | - | - | 1.09 | - | - | - | 5.49 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 25.4% | - | 22.0% | 24.2% | 56.5% | - | 19.0% | 27.7% | 31.3% | - |
| Effective tax rate | 14.1% | - | 31.5% | 23.9% | 7.3% | - | -51.9% | 105.2% | 30.0% | - |
| Return on assets | 7.1% | - | 5.5% | 5.4% | 6.2% | - | 19.7% | -0.0% | 1.6% | - |
| Return on equity | 11.6% | - | 8.6% | 8.3% | 10.3% | - | 36.4% | -0.0% | 3.6% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.49 | 2.68 | 2.69 | 2.87 | 2.36 | 2.05 | 1.84 | 1.45 | 1.46 | 1.40 |
| Quick ratio | 2.49 | 2.68 | 2.69 | 2.87 | 2.36 | 2.05 | 1.84 | 1.45 | 1.46 | 1.40 |
| Cash ratio | 1.68 | 1.63 | 1.66 | 1.70 | 1.45 | 1.19 | 0.88 | 0.63 | 0.75 | 0.60 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.64 | 1.57 | 1.57 | 1.53 | 1.66 | 1.79 | 1.85 | 2.28 | 2.31 | 2.31 |
| Liabilities / Assets | 0.39 | 0.36 | 0.36 | 0.35 | 0.40 | 0.44 | 0.47 | 0.57 | 0.58 | 0.58 |
| Efficiency | ||||||||||
| Asset turnover | 0.43 | - | 0.41 | 0.44 | 0.21 | - | 0.59 | 0.49 | 0.42 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 186d | - | 230d | 213d | 407d | - | 162d | 204d | 194d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 92.0x | - | 321.1x | 256.1x | 163.2x | - | 32.9x | - | 220.0x | - |
| P / B | 10.7x | - | 27.9x | 20.8x | 16.6x | - | 12.0x | 14.8x | 7.7x | - |
| P / S | 15.2x | - | 43.5x | 31.0x | 47.3x | - | 10.9x | 13.2x | 8.0x | - |
| EV / EBITDA | 64.4x | - | - | - | 414.2x | - | - | - | 72.3x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 239.9% | - | 19.8% | 79.4% | 0.0% | - | 135.6% | 65.6% | 40.7% | - |
| Revenue CAGR (3y) | 68.5% | - | 50.2% | 43.0% | 7.7% | - | 44.1% | 24.1% | 18.4% | - |
| Revenue CAGR (5y) | 41.4% | - | 33.9% | 33.3% | 12.8% | - | 30.4% | 19.0% | 14.1% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 1203.9% | - | -0.2% | 3128.6% | -5.9% | - | - | - | - | - |
| Net income growth (YoY) | 91.3% | - | -52.0% | - | 687.4% | - | 4587.1% | 98.3% | - | - |
| EPS growth (YoY) | 90.9% | - | -52.9% | - | 633.3% | - | 5000.0% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | 88.8% | - | - | - | - | - | - | - |
| FCF growth (YoY) | 309.0% | - | - | - | 56.9% | - | - | - | 6519.5% | - |
| FCF CAGR (5y) | 167.6% | - | - | - | 132.6% | - | - | - | 27.4% | - |
| Book value growth (YoY) | 69.9% | 68.8% | 104.0% | 199.3% | 173.9% | 146.9% | 108.7% | 40.3% | 49.6% | 36.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$251.66M totalDds$220.82M · 87.7%
Agility$23.52M · 9.3%
Synodex$7.32M · 2.9%
Geographic
$251.66M totalUS$212.13M · 84.3%
CA$11.66M · 4.6%
GB$10.47M · 4.2%
Other European Countries Principally Germany And Belgium$8.86M · 3.5%
NL$8.55M · 3.4%
Peer comparison
Same SIC group: Services-Computer Processing & Data Preparation
Comparing INNODATA INC against the 5 most active filers in the same SIC group.