Feed / INOD

Innodata Inc.

INOD

Technology · 53.23 +0.2% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

Innodata Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 10 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.

Company+0.2% todayVolume comparison unavailable
Market group0 of 10 activeNetwork Infrastructure Software · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • INOD's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if INOD's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Technology · Information Technology Services

No new filing conclusion is available. 0 of 10 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • INOD's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations320
Usable filing statements141
Verified relationships8
Evidence supporting the case
  • Latest annual revenue changed +47.6% year over year.
  • Operating margin changed +1.6 percentage points in the latest annual period.
  • Operating cash flow covered net income at 1.45x in the latest annual period.
  • Demand and volume has repeated favorable evidence across 4 filings.
Evidence challenging the case
  • Net margin changed -4.0 percentage points in the latest annual period.
  • Diluted shares increased 8.9% in the latest annual period.
  • Credit and interest rates has repeated adverse evidence across 4 filings.
  • Restructuring and cost reductions has repeated adverse evidence across 4 filings.
  • Input and raw-material costs has repeated adverse evidence across 3 filings.
  • Labor availability and costs has repeated adverse evidence across 3 filings.
Questions before a position
  • P/E is 154% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 621% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

53.23
6m+19.7%12m+34.7%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$69.8M+19.8%$-0.06+4.1%
2022-12-31$79.0M+13.3%$-0.44+2.4%
2023-12-31$86.8M+9.8%$-0.03+3.1%
2024-12-31$170.5M+96.4%$0.89+14.4%
2025-12-31$251.7M+47.6%$0.92+8.9%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 4 filings
GAAP before net interest expense (income), income taxes, depreciation and amortization of intangible assets (which derives EBITDA), plus additional adjustments for loss on impairment of intangible assets and goodwill, stock-based compensation, income (loss) a…
10-Q · May 7, 2026
Demand and volumepositive · 4 filings
The increase in working capital is due to increased collections from higher revenues, offset in part by higher operating expenses associated with increased headcount to support higher volumes of AI-related services and expanded customer engagements.
10-Q · May 7, 2026
Restructuring and cost reductionsnegative · 4 filings
GAAP before net interest expense (income), income taxes, depreciation and amortization of intangible assets (which derives EBITDA), plus additional adjustments for loss on impairment of intangible assets and goodwill, stock-based compensation, income (loss) a…
10-Q · May 7, 2026
Input and raw-material costsnegative · 3 filings
The increase in selling and administrative labor costs were primarily due to continued investments in growth-oriented and capability-building functions.
10-K · Feb 26, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 7.4× · EV/sales 7.1×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

53.23+0.2% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for INOD. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for INOD. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind INOD

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

AMZNAmazon.com, Inc.partnerFeb 26, 2026

We host data and applications in our own data centers at our operations centers, in our customers’ data centers, and on third-party cloud services including Amazon Web Services (“AWS”), Microsoft Azure (“Azure”), Oracle Cloud Infrastructure (“OCI”), and Googl…

MSFTMicrosoft CorporationpartnerFeb 26, 2026

We host data and applications in our own data centers at our operations centers, in our customers’ data centers, and on third-party cloud services including Amazon Web Services (“AWS”), Microsoft Azure (“Azure”), Oracle Cloud Infrastructure (“OCI”), and Googl…

ACNAccenture plccompetitorFeb 26, 2026

We also compete with broader technology and business process services providers, including Accenture, Cognizant Technology Solutions, EXLService Holdings, Inc., Genpact Limited, Infosys Limited, PwC, QuantumBlack, and Tata Consultancy Services, which may offe…

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 8 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

INOD is currently a Follower in the organic co-movement group Network Infrastructure Software. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for INOD; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.