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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $251.66M | $170.46M | $86.78M | $79.00M | $69.75M | $58.24M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | $99.48M | $67.07M | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $59.61M | $42.74M | $30.98M | $37.94M | $27.91M | $18.66M |
| Total Operating Expenses | $210.24M | $145.98M | $86.64M | $89.48M | $71.41M | $57.20M |
| D&A | $6.89M | $5.80M | $4.72M | $3.89M | $2.87M | $2.27M |
| Operating Income | $39.87M | $24.34M | $139.0K | ($10.48M) | ($963.0K) | $1.04M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $9.24M | ($4.19M) | $1.03M | $1.52M | $842.0K | $401.0K |
| Net Income | $32.18M | $28.66M | ($908.0K) | ($11.94M) | ($1.67M) | $617.0K |
| EPS - Basic | $1.01 | $0.98 | ($0.03) | ($0.44) | ($0.06) | $0.03 |
| EPS - Diluted | $0.92 | $0.89 | ($0.03) | ($0.44) | ($0.06) | $0.02 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $82.23M | $46.88M | $13.81M | $9.79M | $18.90M | $17.57M |
| Accounts Receivable | $46.51M | $28.01M | $14.29M | $9.53M | $11.38M | $10.05M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $9.62M | $4.55M | $2.66M | $2.63M | $1.82M | $1.44M |
| Current Assets | $135.39M | $81.00M | $32.08M | $23.68M | $33.96M | $31.86M |
| Total Assets | $168.59M | $113.45M | $59.43M | $48.04M | $59.22M | $57.25M |
| Current Liabilities | $50.53M | $39.51M | $22.93M | $20.82M | $21.30M | $18.35M |
| Long-term Debt | - | - | - | $5.08M | $6.22M | $6.28M |
| Total Liabilities | $61.53M | $50.06M | $34.44M | $30.00M | $32.81M | $31.00M |
| Stockholders' Equity | $107.14M | $63.47M | $25.70M | $18.77M | $29.93M | $29.64M |
| Retained Earnings | $51.16M | $18.98M | ($9.68M) | ($8.78M) | $3.16M | $4.83M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $46.75M | $35.02M | $5.90M | ($1.22M) | $5.15M | $5.66M |
| Investing Cash Flow | ($11.10M) | ($7.74M) | ($5.07M) | ($7.03M) | ($4.37M) | ($1.38M) |
| Financing Cash Flow | ($426.0K) | $6.06M | $2.87M | ($307.0K) | $773.0K | $2.31M |
| CapEx | $11.10M | $7.74M | $5.56M | $6.53M | $4.37M | $1.41M |
| Free Cash Flow | $35.65M | $27.27M | $339.0K | ($7.74M) | $783.0K | $4.25M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 39.5% | 39.3% | - | - | - | - |
| Operating margin | 15.8% | 14.3% | 0.2% | -13.3% | -1.4% | 1.8% |
| EBITDA margin | 18.6% | 17.7% | 5.6% | -8.3% | 2.7% | 5.7% |
| Net margin | 12.8% | 16.8% | -1.0% | -15.1% | -2.4% | 1.1% |
| Free cash flow margin | 14.2% | 16.0% | 0.4% | -9.8% | 1.1% | 7.3% |
| FCF / Net income | 1.11 | 0.95 | -0.37 | 0.65 | -0.47 | 6.88 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 23.7% | 25.1% | 35.7% | 48.0% | 40.0% | 32.0% |
| Effective tax rate | 22.3% | -17.1% | 856.7% | - | - | 39.4% |
| Return on assets | 19.1% | 25.3% | -1.5% | -24.8% | -2.8% | 1.1% |
| Return on equity | 30.0% | 45.2% | -3.5% | -63.6% | -5.6% | 2.1% |
| Return on invested capital | - | - | - | -34.7% | -2.1% | 1.8% |
| Liquidity | ||||||
| Current ratio | 2.68 | 2.05 | 1.40 | 1.14 | 1.59 | 1.74 |
| Quick ratio | 2.68 | 2.05 | 1.40 | 1.14 | 1.59 | 1.74 |
| Cash ratio | 1.63 | 1.19 | 0.60 | 0.47 | 0.89 | 0.96 |
| Leverage | ||||||
| Debt / Equity | - | - | - | 0.27 | 0.21 | 0.21 |
| Debt / Assets | - | - | - | 0.11 | 0.10 | 0.11 |
| Debt / EBITDA | - | - | - | - | 3.26 | 1.90 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.57 | 1.79 | 2.31 | 2.56 | 1.98 | 1.93 |
| Liabilities / Assets | 0.36 | 0.44 | 0.58 | 0.62 | 0.55 | 0.54 |
| Efficiency | ||||||
| Asset turnover | 1.49 | 1.50 | 1.46 | 1.64 | 1.18 | 1.02 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 67d | 60d | 60d | 44d | 60d | 63d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 55.4x | 44.4x | - | - | - | 265.0x |
| P / B | 16.7x | 20.0x | 0.0x | 4.3x | 5.3x | 4.6x |
| P / S | 7.1x | 7.5x | 0.0x | 1.0x | 2.3x | 2.3x |
| EV / EBITDA | 36.4x | 40.6x | -2.8x | - | 76.1x | 37.5x |
| Growth | ||||||
| Revenue growth (YoY) | 47.6% | 96.4% | 9.8% | 13.3% | 19.8% | 4.3% |
| Revenue CAGR (3y) | 47.1% | 34.7% | 14.2% | 12.2% | 6.7% | -1.5% |
| Revenue CAGR (5y) | 34.0% | 25.0% | 8.6% | 5.3% | 2.0% | -0.1% |
| Gross profit growth (YoY) | 48.3% | - | - | - | - | - |
| Operating income growth (YoY) | 63.8% | 17407.9% | - | -988.6% | - | - |
| Net income growth (YoY) | 12.3% | - | 92.4% | -613.4% | - | - |
| EPS growth (YoY) | 3.4% | - | 93.2% | -633.3% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | 115.1% | - | - | - | - | - |
| FCF growth (YoY) | 30.7% | 7945.4% | - | - | -81.6% | 37.7% |
| FCF CAGR (5y) | 53.0% | 54.6% | -26.4% | - | - | 16.7% |
| Book value growth (YoY) | 68.8% | 146.9% | 36.9% | -37.3% | 1.0% | 12.7% |
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%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
3.57
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Computer Processing & Data Preparation
Comparing INNODATA INC against the 5 most active filers in the same SIC group.