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Innodata (INOD) Financials

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$92.15 +2.20 (+2.45%)
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Annual Income Statements for Innodata

Annual Income Statements for Innodata

This table shows Innodata's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -2.83 -5.52 -5.06 -0.25 -2.14 0.62 -1.67 -12 -0.91 29 32
Consolidated Net Income / (Loss)		 -3.38 -5.91 -5.36 -0.25 -2.16 0.64 -1.81 -12 -0.89 29 32
Net Income / (Loss) Continuing Operations		 -3.38 -5.91 -5.36 -0.25 -2.16 0.64 -1.81 -12 -0.89 29 32
Total Pre-Tax Income 		-2.18 -4.79 -5.07 1.56 -1.07 1.05 -0.96 -10 0.14 24 41
Total Operating Income		 -2.21 -4.72 -5.10 1.60 -0.95 1.18 -1.65 -10 0.32 24 40
Total Gross Profit		 59 63 61 57 56 58 70 79 87 170 252
Total Revenue		 59 63 61 57 56 58 70 79 87 170 252
Operating Revenue		 59 63 61 57 56 58 70 79 87 170 252
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 61 68 66 56 57 57 71 89 86 146 212
Selling, General & Admin Expense		 17 20 20 16 19 19 28 38 31 43 60
Other Operating Expenses / (Income)		 44 47 46 39 37 38 43 52 55 103 152
Total Other Income / (Expense), net		 0.03 -0.06 0.02 -0.03 -0.12 -0.14 0.69 -0.01 -0.18 0.15 1.55
Interest & Investment Income		 0.03 -0.06 0.02 -0.03 -0.12 -0.14 0.11 -0.01 -0.18 0.15 1.55
Income Tax Expense		 1.20 1.13 0.29 1.81 1.09 0.40 0.84 1.52 1.03 -4.19 9.24
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.56 -0.39 -0.30 0.01 -0.02 0.03 -0.13 -0.07 0.02 -0.02 0.00
Basic Earnings per Share		 ($0.11) ($0.22) $0.20 $0.01 ($0.08) $0.03 ($0.06) ($0.44) ($0.03) $0.98 $1.01
Weighted Average Basic Shares Outstanding		 25.40M 25.54M 25.82M 25.88M 25.77M 24.61M 26.63M 27.28M 28.13M 29.16M 31.81M
Diluted Earnings per Share		 ($0.11) ($0.22) $0.20 $0.01 ($0.08) $0.02 ($0.06) ($0.44) ($0.03) $0.89 $0.92
Weighted Average Diluted Shares Outstanding		 25.40M 25.54M 25.82M 25.88M 25.77M 25.57M 26.63M 27.28M 28.13M 32.18M 35.03M
Weighted Average Basic & Diluted Shares Outstanding		 25.40M 25.54M 25.82M 25.88M 25.77M 25.86M 27.16M 27.40M 28.75M 31.30M 32.60M
Cash Dividends to Common per Share		 - - - - $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Quarterly Income Statements for Innodata

This table shows Innodata's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 0.37 1.65 0.99 -0.01 17 10 7.79 7.22 8.34 8.83 15
Consolidated Net Income / (Loss)		 0.38 1.66 0.99 -0.01 17 10 7.79 7.22 8.34 8.83 15
Net Income / (Loss) Continuing Operations		 0.38 1.66 0.99 -0.01 17 10 7.79 7.22 8.34 8.83 15
Total Pre-Tax Income 		0.76 1.90 1.41 0.28 11 11 8.40 9.49 12 11 17
Total Operating Income		 0.82 1.96 1.33 0.33 11 11 8.27 8.91 12 11 17
Total Gross Profit		 22 26 27 33 52 59 58 58 63 72 90
Total Revenue		 22 26 27 33 52 59 58 58 63 72 90
Operating Revenue		 22 26 27 33 52 59 58 58 63 72 90
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 21 24 25 32 41 48 50 49 51 61 73
Selling, General & Admin Expense		 7.40 8.20 8.31 9.02 9.91 16 15 14 14 17 23
Other Operating Expenses / (Income)		 14 16 17 23 31 32 35 35 37 45 50
Total Other Income / (Expense), net		 -0.07 -0.06 0.08 -0.06 0.03 0.09 0.13 0.58 0.42 0.43 0.44
Interest & Investment Income		 -0.07 -0.06 0.08 -0.06 0.03 0.09 0.13 0.58 0.42 0.43 0.44
Income Tax Expense		 0.37 0.25 0.42 0.29 -5.94 1.05 0.61 2.27 3.84 2.53 2.44
Basic Earnings per Share		 $0.01 $0.07 $0.03 $0.00 $0.60 $0.35 $0.25 $0.23 $0.26 $0.27 $0.46
Weighted Average Basic Shares Outstanding		 28.46M 28.13M 28.75M 28.88M 28.99M 29.16M 31.43M 31.79M 31.85M 31.81M 32.63M
Diluted Earnings per Share		 $0.01 $0.07 $0.03 $0.00 $0.51 $0.35 $0.22 $0.20 $0.24 $0.26 $0.42
Weighted Average Diluted Shares Outstanding		 32.46M 28.13M 32.24M 28.88M 34.01M 32.18M 34.95M 35.30M 35.27M 35.03M 35.57M
Weighted Average Basic & Diluted Shares Outstanding		 28.71M 28.75M 28.75M 28.99M 29.00M 31.30M 31.75M 31.85M 31.86M 32.60M 32.66M

Annual Cash Flow Statements for Innodata

This table details how cash moves in and out of Innodata's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.69 -11 -2.77 -0.54 0.01 6.70 1.33 -9.11 4.01 33 35
Net Cash From Operating Activities		 2.66 -2.74 0.64 3.57 4.28 5.66 5.15 -1.22 5.90 35 47
Net Cash From Continuing Operating Activities		 2.66 -2.74 0.64 3.57 4.28 5.66 5.15 -1.22 5.90 35 47
Net Income / (Loss) Continuing Operations		 -3.38 -5.91 -5.36 -0.25 -2.16 0.64 -1.81 -12 -0.89 29 32
Consolidated Net Income / (Loss)		 -3.38 -5.91 -5.36 -0.25 -2.16 0.64 -1.81 -12 -0.89 29 32
Depreciation Expense		 2.77 3.20 3.67 3.37 2.70 2.27 2.87 3.89 4.72 5.80 6.89
Non-Cash Adjustments To Reconcile Net Income		 1.76 1.40 0.80 1.91 1.17 1.75 1.68 4.83 5.50 5.61 12
Changes in Operating Assets and Liabilities, net		 1.51 -1.42 1.52 -1.47 2.57 1.00 2.41 2.07 -3.42 -5.22 -4.76
Net Cash From Investing Activities		 -0.70 -6.97 -3.41 -2.03 -1.67 -1.38 -4.37 -7.03 -5.07 -7.74 -11
Net Cash From Continuing Investing Activities		 -0.70 -6.97 -3.41 -2.03 -1.67 -1.38 -4.37 -7.03 -5.07 -7.74 -11
Purchase of Property, Plant & Equipment		 -0.70 -2.74 -3.41 -2.03 -1.67 -1.41 -4.37 -6.53 -5.56 -7.74 -11
Net Cash From Financing Activities		 -1.13 -0.84 -0.28 -2.03 -2.40 2.31 0.77 -0.31 2.87 6.21 -0.43
Net Cash From Continuing Financing Activities		 -1.13 -0.84 -0.28 -2.03 -2.40 2.31 0.77 -0.31 2.87 6.21 -0.43
Repayment of Debt		 -0.93 -0.70 -1.08 -2.03 -0.57 -0.86 -0.69 -0.64 -0.45 -0.36 -0.42
Other Financing Activities, net		 0.00 - - - 0.01 2.60 1.46 0.33 3.32 6.57 -0.01
Effect of Exchange Rate Changes		 -0.14 -0.20 0.29 -0.05 -0.21 0.10 -0.23 -0.55 0.31 -0.26 0.11
Cash Interest Paid		 - - - - 0.13 0.14 0.03 0.02 0.40 0.29 0.23
Cash Income Taxes Paid		 1.06 1.31 1.09 0.68 0.96 0.35 1.54 1.11 0.75 2.42 6.00

Quarterly Cash Flow Statements for Innodata

This table details how cash moves in and out of Innodata's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 1.16 -1.01 5.17 -2.47 9.86 21 9.66 3.24 14 8.37 35
Net Cash From Operating Activities		 1.61 0.11 6.77 -0.45 11 17 11 4.24 19 13 37
Net Cash From Continuing Operating Activities		 1.61 0.11 6.77 -0.45 11 17 11 4.24 19 13 37
Net Income / (Loss) Continuing Operations		 0.38 1.66 0.99 -0.01 17 10 7.79 7.22 8.34 8.83 15
Consolidated Net Income / (Loss)		 0.38 1.66 0.99 -0.01 17 10 7.79 7.22 8.34 8.83 15
Depreciation Expense		 1.24 1.24 1.27 1.42 1.54 1.58 1.56 1.60 1.75 1.98 2.18
Non-Cash Adjustments To Reconcile Net Income		 1.27 1.71 1.34 1.08 1.41 2.21 3.15 3.05 3.02 3.15 6.26
Changes in Operating Assets and Liabilities, net		 -1.28 -4.49 3.17 -2.94 -8.96 3.24 -1.71 -7.64 5.66 -1.08 14
Net Cash From Investing Activities		 -1.31 -1.25 -1.34 -2.73 -1.46 -2.22 -2.35 -1.71 -4.23 -2.82 -2.42
Net Cash From Continuing Investing Activities		 -1.31 -1.25 -1.34 -2.73 -1.46 -2.22 -2.35 -1.71 -4.23 -2.82 -2.42
Purchase of Property, Plant & Equipment		 -1.31 -1.24 -1.34 -2.73 -1.46 -2.22 -2.35 -1.71 -4.23 -2.82 -2.42
Net Cash From Financing Activities		 0.84 0.04 -0.29 0.68 -0.20 5.86 0.94 0.38 -0.10 -1.57 0.90
Net Cash From Continuing Financing Activities		 0.84 0.04 -0.29 0.68 -0.20 5.86 0.94 0.38 -0.10 -1.57 0.90
Repayment of Debt		 -0.14 -0.12 -0.29 -0.00 -0.22 0.00 -0.03 -0.13 -0.14 -0.05 -0.01
Other Financing Activities, net		 0.98 0.17 0.00 0.69 0.03 5.86 0.96 0.51 0.04 -1.52 0.91
Effect of Exchange Rate Changes		 0.02 0.08 0.03 0.03 0.13 -0.45 0.28 0.33 -0.38 -0.12 -0.60
Cash Income Taxes Paid		 0.12 0.25 0.16 0.30 0.31 1.65 0.11 2.56 0.94 2.38 0.76

Annual Balance Sheets for Innodata

This table presents Innodata's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 51 48 48 45 49 57 59 48 59 113 169
Total Current Assets		 37 27 25 26 24 32 34 24 32 81 135
Cash & Equivalents		 25 14 11 11 11 18 19 9.79 14 47 82
Accounts Receivable		 9.25 9.95 10 11 9.72 10 11 9.53 14 28 47
Prepaid Expenses		 2.90 3.12 3.63 4.67 3.41 4.24 3.68 3.86 3.97 6.09 6.65
Plant, Property, & Equipment, net		 4.72 5.40 7.19 6.81 6.89 1.85 2.95 2.51 2.28 4.10 7.97
Total Noncurrent Assets		 9.46 15 15 12 19 24 22 22 25 28 25
Goodwill		 1.48 2.73 2.83 2.05 2.11 2.15 2.14 2.04 2.08 2.00 2.08
Intangible Assets		 3.99 8.19 7.61 6.28 5.48 10 10 13 14 13 14
Noncurrent Deferred & Refundable Income Taxes		 1.66 1.64 1.76 1.20 1.91 2.19 1.95 1.48 1.74 7.49 3.43
Other Noncurrent Operating Assets		 2.33 2.38 3.16 2.44 9.12 9.17 7.87 5.81 7.50 5.51 5.74
Total Liabilities & Shareholders' Equity		 51 48 48 45 49 57 59 48 59 113 169
Total Liabilities		 17 17 21 19 27 31 33 30 34 50 62
Total Current Liabilities		 12 13 16 14 16 18 21 21 23 40 51
Accounts Payable		 1.25 1.02 1.87 1.83 1.42 1.44 1.82 2.63 2.66 4.55 9.62
Accrued Expenses		 3.31 4.33 3.76 2.80 3.34 3.49 7.56 7.25 3.06 4.89 9.61
Current Deferred Revenue		 - - - - - - - - 3.52 8.01 7.49
Current Deferred & Payable Income Tax Liabilities		 1.26 1.33 1.10 3.24 4.18 5.00 3.21 3.23 3.85 5.70 4.47
Current Employee Benefit Liabilities		 4.91 5.04 5.54 4.49 4.27 5.72 6.39 6.14 7.80 14 16
Other Current Liabilities		 - - - - 1.11 0.99 1.03 1.57 2.04 2.52 2.86
Total Noncurrent Liabilities		 4.23 4.60 5.09 4.63 12 13 12 9.18 12 11 11
Noncurrent Deferred & Payable Income Tax Liabilities		 0.79 0.68 0.61 0.57 0.36 0.04 0.02 0.07 0.02 0.03 0.15
Other Noncurrent Operating Liabilities		 - - - - 6.73 6.33 5.28 9.12 11 11 11
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 38 34 31 30 26 30 30 19 26 63 107
Total Preferred & Common Equity		 38 34 31 30 26 30 30 19 26 63 107
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 38 34 31 30 26 30 30 19 26 63 107
Common Stock		 25 26 28 28 29 32 35 36 43 53 65
Retained Earnings		 18 12 7.35 6.60 4.22 4.83 3.16 -8.78 -9.68 19 51
Treasury Stock		 -4.49 -4.62 -4.62 -4.62 -6.47 -6.47 -6.47 -6.47 -6.47 -6.47 -6.47
Accumulated Other Comprehensive Income / (Loss)		 -0.08 -0.32 0.85 -0.02 -0.92 -0.94 -2.19 -2.11 -1.62 -2.47 -2.12
Noncontrolling Interest		 - - - - - - - - - -0.08 -0.08

Quarterly Balance Sheets for Innodata

This table presents Innodata's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 48 49 52 56 64 66 88 125 133 153 210
Total Current Assets		 24 23 26 29 37 38 55 92 101 120 174
Cash & Equivalents		 11 10 14 15 19 17 26 57 60 74 117
Accounts Receivable		 9.37 8.46 8.36 11 14 18 23 30 34 39 46
Prepaid Expenses		 3.82 4.19 3.84 3.83 3.82 3.65 5.22 6.22 6.77 6.48 10
Plant, Property, & Equipment, net		 2.72 2.59 2.43 2.37 2.14 3.27 3.33 4.68 4.71 7.14 8.01
Total Noncurrent Assets		 21 23 23 25 25 24 30 28 27 26 29
Goodwill		 1.98 2.04 2.07 2.03 2.06 2.04 2.08 2.02 2.09 2.07 2.05
Intangible Assets		 12 13 13 13 14 14 14 14 14 14 14
Noncurrent Deferred & Refundable Income Taxes		 1.53 1.58 1.59 1.55 1.85 1.74 7.89 7.28 6.04 4.19 5.29
Other Noncurrent Operating Assets		 5.71 6.36 6.17 7.69 6.83 6.68 6.21 5.31 5.17 5.86 7.17
Total Liabilities & Shareholders' Equity		 48 49 52 56 64 66 88 125 133 153 210
Total Liabilities		 31 31 32 34 37 38 41 50 46 56 82
Total Current Liabilities		 21 21 21 23 25 26 30 39 35 45 70
Accounts Payable		 2.95 2.23 2.72 2.42 2.09 3.73 3.49 4.50 4.49 4.39 4.18
Accrued Expenses		 6.74 6.84 5.22 8.12 3.19 5.35 4.20 5.73 5.14 12 27
Current Deferred Revenue		 - - - - 6.67 4.77 6.50 8.03 6.49 7.03 7.15
Current Deferred & Payable Income Tax Liabilities		 2.99 3.58 5.00 3.43 4.06 3.91 3.96 4.86 4.22 3.21 6.32
Current Employee Benefit Liabilities		 6.91 6.77 6.80 7.15 7.30 6.64 9.62 14 12 15 21
Other Current Liabilities		 0.74 1.75 1.65 1.79 1.96 1.98 2.02 2.41 2.41 2.34 3.54
Total Noncurrent Liabilities		 9.83 10 10 11 11 11 11 11 11 11 12
Noncurrent Deferred & Payable Income Tax Liabilities		 0.02 0.06 0.02 0.02 0.08 0.09 0.03 0.04 0.07 0.04 0.05
Other Noncurrent Operating Liabilities		 3.93 10 10 11 11 11 11 11 11 11 12
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 18 18 21 23 28 29 48 75 87 97 128
Total Preferred & Common Equity		 18 18 21 23 28 29 48 75 87 97 128
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 18 18 21 23 28 29 48 75 87 97 128
Common Stock		 35 37 40 42 45 46 47 57 61 63 71
Retained Earnings		 -6.82 -11 -12 -11 -8.69 -8.71 8.68 27 34 42 66
Treasury Stock		 -6.47 -6.47 -6.47 -6.47 -6.47 -6.47 -6.47 -6.47 -6.47 -6.47 -6.47
Accumulated Other Comprehensive Income / (Loss)		 -4.09 -1.63 -1.46 -1.62 -1.79 -2.04 -1.57 -2.09 -1.29 -1.79 -2.72
Noncontrolling Interest		 - - - - - - - -0.08 -0.08 -0.08 -0.08

Annual Metrics And Ratios for Innodata

This table displays calculated financial ratios and metrics derived from Innodata's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 31,860,951.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 31,860,951.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 1.01
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -0.94% 7.78% -3.40% -5.76% -2.72% 4.26% 19.77% 13.26% 9.84% 96.44% 47.64%
EBITDA Growth		 -60.80% -372.19% 6.81% 449.19% -64.80% 97.03% -47.82% -466.13% 176.47% 498.57% 55.19%
EBIT Growth		 -36.97% -113.47% -7.94% 131.29% -159.44% 224.47% -190.76% -877.78% 103.04% 7,552.83% 63.84%
NOPAT Growth		 -36.97% -113.47% -7.94% 92.96% -164.17% 209.58% -258.93% -534.28% 72.25% 1,501.32% 8.68%
Net Income Growth		 -75.70% -74.67% 9.34% 95.41% -777.64% 129.83% -380.28% -565.10% 92.59% 3,325.53% 12.23%
EPS Growth		 -175.00% -100.00% 190.91% -95.00% -900.00% 125.00% -400.00% -633.33% 93.18% 3,066.67% 3.37%
Operating Cash Flow Growth		 -42.36% -202.86% 123.36% 458.22% 19.99% 32.24% -8.99% -123.61% 585.44% 493.17% 34.10%
Free Cash Flow Firm Growth		 160.90% -434.63% 35.44% 135.83% 48.05% -60.95% -59.38% -115.19% -6,866.62% 524.46% -2.36%
Invested Capital Growth		 -22.85% 41.85% 12.22% -10.39% -18.54% -3.16% -10.03% -48.35% 44.25% 47.58% 50.57%
Revenue Q/Q Growth		 -0.63% 0.24% -0.03% -1.17% -0.53% 1.07% 6.08% 0.11% 8.42% 24.07% 5.53%
EBITDA Q/Q Growth		 16.63% -33.01% -569.64% 119.38% -7.41% 33.36% -43.69% -5.50% 330.26% 46.99% 0.16%
EBIT Q/Q Growth		 12.50% -17.81% -47.18% 233.36% 8.23% 332.23% -280.61% -5.87% 109.46% 61.78% -0.80%
NOPAT Q/Q Growth		 12.50% -17.81% -47.18% 70.00% 8.23% 120.01% -383.52% -5.87% 13.58% 42.28% -5.16%
Net Income Q/Q Growth		 -9.59% -5.74% -25.27% 88.75% -14.90% 162.83% -391.13% -6.39% 80.26% 43.17% -4.37%
EPS Q/Q Growth		 -22.22% -4.76% 225.00% -96.88% -300.00% 118.18% 0.00% -10.00% 83.33% 45.90% -8.91%
Operating Cash Flow Q/Q Growth		 147.81% -274.66% 242.63% 2.47% -3.84% 12.23% -8.82% 43.47% -5.29% 96.74% -8.69%
Free Cash Flow Firm Q/Q Growth		 177.02% -36.09% 1.27% -15.62% 30.85% 189.26% -67.54% 98.80% -275.25% 244.86% -24.33%
Invested Capital Q/Q Growth		 -2.74% 8.26% 1.64% 6.95% 4.02% 16.26% 14.00% -39.44% 52.60% -20.06% 6.21%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.96% -2.42% -2.34% 8.65% 3.13% 5.92% 2.58% -8.33% 5.80% 17.68% 18.58%
Operating Margin		 -3.78% -7.49% -8.37% 2.78% -1.70% 2.03% -2.37% -13.26% 0.37% 14.28% 15.84%
EBIT Margin		 -3.78% -7.49% -8.37% 2.78% -1.70% 2.03% -1.54% -13.26% 0.37% 14.28% 15.84%
Profit (Net Income) Margin		 -5.78% -9.37% -8.80% -0.43% -3.87% 1.11% -2.59% -15.20% -1.02% 16.82% 12.79%
Tax Burden Percent		 155.16% 123.53% 105.62% -15.75% 202.15% 61.63% 187.44% 114.52% -639.57% 117.11% 77.69%
Interest Burden Percent		 98.60% 101.33% 99.55% 97.93% 112.66% 88.56% 89.92% 100.11% 43.71% 100.61% 103.89%
Effective Tax Rate		 0.00% 0.00% 0.00% 115.75% 0.00% 38.37% 0.00% 0.00% 739.57% -17.11% 22.32%
Return on Invested Capital (ROIC)		 -9.10% -18.45% -16.00% -1.12% -3.46% 4.29% -7.30% -64.45% -21.50% 206.03% 149.91%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.83% -0.50% 12.14% -1.24% 25.92% 5.44% -1.11% -21.38% -30.99% 205.45% 148.05%
Return on Net Nonoperating Assets (RNNOA)		 -0.43% 0.22% -2.70% 0.21% -5.44% -1.63% 0.44% 10.44% 17.37% -141.14% -112.15%
Return on Equity (ROE)		 -9.54% -18.23% -18.69% -0.92% -8.90% 2.66% -6.86% -54.01% -4.13% 64.89% 37.76%
Cash Return on Invested Capital (CROIC)		 16.70% -53.06% -27.52% 9.83% 16.98% 7.50% 3.26% -0.69% -57.73% 167.59% 109.55%
Operating Return on Assets (OROA)		 -4.17% -9.56% -10.68% 3.44% -2.01% 2.21% -1.84% -19.53% 0.59% 28.15% 28.27%
Return on Assets (ROA)		 -6.38% -11.96% -11.23% -0.53% -4.57% 1.21% -3.10% -22.39% -1.65% 33.17% 22.82%
Return on Common Equity (ROCE)		 -10.40% -20.24% -21.16% -1.04% -10.15% 3.04% -7.76% -59.18% -4.27% 65.47% 37.80%
Return on Equity Simple (ROE_SIMPLE)		 -8.86% -17.50% -17.22% -0.83% -8.46% 2.17% -6.03% -63.95% -3.46% 45.18% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.55 -3.31 -3.57 -0.25 -0.66 0.73 -1.16 -7.33 -2.03 29 31
NOPAT Margin		 -2.65% -5.24% -5.86% -0.44% -1.19% 1.25% -1.66% -9.28% -2.34% 16.72% 12.31%
Net Nonoperating Expense Percent (NNEP)		 -9.93% -17.95% -28.14% 0.12% -29.38% -1.15% -6.19% -43.07% 9.49% 0.57% 1.87%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - -7.91% 44.90% 28.93%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 28.70% 30.98% 33.15% 27.60% 34.88% 32.04% 40.01% 48.02% 35.70% 25.07% 23.68%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 103.78% 107.49% 108.37% 97.22% 101.70% 97.97% 102.37% 113.26% 99.63% 85.72% 84.16%
Earnings before Interest and Taxes (EBIT)		 -2.21 -4.72 -5.10 1.60 -0.95 1.18 -1.07 -10 0.32 24 40
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 0.56 -1.53 -1.42 4.97 1.75 3.45 1.80 -6.58 5.03 30 47
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.90 1.86 1.13 1.30 1.14 4.42 5.37 4.32 9.09 18.06 15.15
Price to Tangible Book Value (P/TBV)		 2.22 2.75 1.70 1.81 1.62 7.51 9.22 19.29 23.68 23.82 17.82
Price to Revenue (P/Rev)		 1.24 1.00 0.58 0.68 0.52 2.25 2.30 1.03 2.69 6.72 6.45
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 212.54 0.00 0.00 0.00 39.99 50.44
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.47% 0.00% 0.00% 0.00% 2.50% 1.98%
Enterprise Value to Invested Capital (EV/IC)		 3.32 2.38 1.17 1.43 1.21 7.09 9.72 9.06 19.61 66.65 62.06
Enterprise Value to Revenue (EV/Rev)		 0.84 0.79 0.45 0.52 0.37 2.03 2.09 0.89 2.53 6.45 6.12
Enterprise Value to EBITDA (EV/EBITDA)		 87.76 0.00 0.00 6.07 11.88 34.29 81.10 0.00 43.54 36.48 32.95
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 18.90 0.00 100.14 0.00 0.00 689.21 45.16 38.65
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 162.50 0.00 0.00 0.00 38.56 49.75
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.52 0.00 43.28 8.45 4.86 20.88 28.31 0.00 37.13 31.39 32.96
Enterprise Value to Free Cash Flow (EV/FCFF)		 17.33 0.00 0.00 13.71 6.38 92.96 282.43 0.00 0.00 47.41 68.08
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.14 0.17 0.29 0.21 0.27 0.30 0.28 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.10 0.13 0.16 0.15 0.21 0.24 0.24 0.00 0.00 0.00 0.00
Financial Leverage		 -0.52 -0.45 -0.22 -0.17 -0.21 -0.30 -0.40 -0.49 -0.56 -0.69 -0.76
Leverage Ratio		 1.49 1.52 1.67 1.73 1.95 2.21 2.21 2.41 2.50 1.96 1.65
Compound Leverage Factor		 1.47 1.54 1.66 1.70 2.19 1.95 1.99 2.42 1.09 1.97 1.72
Debt to Total Capital		 12.63% 14.31% 22.32% 17.47% 21.27% 23.34% 22.11% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 3.98% 3.18% 9.53% 4.78% 5.13% 5.00% 3.77% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 8.65% 11.13% 12.79% 12.69% 16.14% 18.34% 18.34% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 -8.83% -10.33% -11.25% -10.62% -12.16% -9.90% -10.39% -4.03% -2.83% -0.13% -0.08%
Common Equity to Total Capital		 96.20% 96.01% 88.93% 93.15% 90.90% 86.56% 88.28% 104.03% 102.83% 100.13% 100.08%
Debt to EBITDA		 8.94 -3.30 -5.49 1.13 3.42 2.32 4.17 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 -35.45 5.98 2.53 -1.06 -2.80 -2.78 -6.34 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 6.12 -2.57 -3.15 0.82 2.59 1.82 3.46 0.00 0.00 0.00 0.00
Debt to NOPAT		 -3.24 -1.52 -2.19 -22.26 -9.00 10.99 -6.49 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 12.85 2.76 1.01 21.01 7.38 -13.17 9.87 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 -2.22 -1.19 -1.25 -16.17 -6.83 8.64 -5.38 0.00 0.00 0.00 0.00
Altman Z-Score		 4.71 3.89 2.40 3.18 2.02 4.02 4.39 2.36 5.51 16.62 19.13
Noncontrolling Interest Sharing Ratio		 -9.10% -11.01% -13.21% -13.69% -14.05% -14.07% -13.13% -9.56% -3.33% -0.90% -0.10%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.01 2.12 1.62 1.88 1.52 1.74 1.59 1.14 1.40 2.05 2.68
Quick Ratio		 2.78 1.88 1.39 1.55 1.31 1.51 1.42 0.95 1.23 1.90 2.55
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2.84 -9.51 -6.14 2.20 3.26 1.27 0.52 -0.08 -5.46 23 23
Operating Cash Flow to CapEx		 381.49% -99.82% 18.74% 175.46% 256.75% 411.64% 117.93% -18.63% 106.09% 452.33% 421.04%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.10 1.28 1.28 1.24 1.18 1.09 1.20 1.47 1.61 1.97 1.78
Accounts Receivable Turnover		 5.94 6.57 6.02 5.49 5.49 5.89 6.51 7.56 7.29 8.06 6.75
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 11.00 12.47 9.68 8.20 8.15 13.33 29.07 28.95 36.22 53.42 41.71
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 61.41 55.56 60.63 66.48 66.48 61.95 56.06 48.30 50.09 45.29 54.04
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 61.41 55.56 60.63 66.48 66.48 61.95 56.06 48.30 50.09 45.29 54.04
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 15 21 24 21 17 17 15 7.75 11 16 25
Invested Capital Turnover		 3.44 3.52 2.73 2.57 2.91 3.44 4.41 6.95 9.17 12.32 12.18
Increase / (Decrease) in Invested Capital		 -4.39 6.20 2.57 -2.45 -3.92 -0.54 -1.67 -7.25 3.43 5.32 8.34
Enterprise Value (EV)		 49 50 28 30 21 118 146 70 219 1,099 1,541
Market Capitalization		 73 63 35 39 29 131 161 81 234 1,146 1,623
Book Value per Share		 $1.50 $1.32 $1.20 $1.15 $1.00 $1.20 $1.10 $0.69 $0.90 $2.19 $3.36
Tangible Book Value per Share		 $1.29 $0.89 $0.80 $0.83 $0.70 $0.71 $0.64 $0.15 $0.34 $1.66 $2.86
Total Capital		 40 35 35 32 28 34 34 18 25 63 107
Total Debt		 5.02 5.04 7.81 5.59 5.97 7.99 7.50 0.00 0.00 0.00 0.00
Total Long-Term Debt		 3.44 3.92 4.48 4.06 4.53 6.28 6.22 0.00 0.00 0.00 0.00
Net Debt		 -20 -9.14 -3.60 -5.28 -4.90 -9.58 -11 -10 -14 -47 -82
Capital Expenditures (CapEx)		 0.70 2.74 3.41 2.03 1.67 1.38 4.37 6.53 5.56 7.74 11
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1.43 1.36 1.66 2.93 -1.18 -2.35 -4.97 -7.43 -4.68 -5.40 2.63
Debt-free Net Working Capital (DFNWC)		 26 16 13 14 9.69 15 14 2.87 9.14 41 85
Net Working Capital (NWC)		 25 14 9.73 12 8.25 14 13 2.87 9.14 41 85
Net Nonoperating Expense (NNE)		 1.84 2.61 1.79 -0.01 1.50 0.08 0.65 4.67 -1.14 -0.17 -1.21
Net Nonoperating Obligations (NNO)		 -20 -9.14 -3.60 -5.28 -4.90 -9.58 -11 -10 -14 -47 -82
Total Depreciation and Amortization (D&A)		 2.77 3.20 3.67 3.37 2.70 2.27 2.87 3.89 4.72 5.80 6.89
Debt-free, Cash-free Net Working Capital to Revenue		 2.44% 2.15% 2.72% 5.10% -2.12% -4.03% -7.12% -9.40% -5.39% -3.17% 1.05%
Debt-free Net Working Capital to Revenue		 45.00% 24.62% 21.44% 24.03% 17.35% 26.15% 19.98% 3.63% 10.54% 24.34% 33.72%
Net Working Capital to Revenue		 42.30% 22.84% 15.97% 21.36% 14.77% 23.21% 18.15% 3.63% 10.54% 24.34% 33.72%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.11) ($0.22) ($0.20) $0.00 $0.06 $0.03 ($0.06) ($0.44) ($0.03) $0.98 $1.01
Adjusted Weighted Average Basic Shares Outstanding		 25.45M 25.62M 25.88M 25.95M 24.46M 24.61M 26.63M 27.28M 28.13K 29.16M 31.81M
Adjusted Diluted Earnings per Share		 ($0.11) ($0.22) ($0.20) $0.00 $0.06 $0.02 ($0.06) ($0.44) ($0.03) $0.89 $0.92
Adjusted Weighted Average Diluted Shares Outstanding		 25.45M 25.62M 25.88M 25.95M 24.46M 25.57M 26.63M 27.28M 28.13K 32.18M 35.03M
Adjusted Basic & Diluted Earnings per Share		 ($0.11) ($0.22) ($0.20) $0.00 $0.06 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 25.40M 25.54M 25.82M 25.88M 25.77M 25.86M 27.16M 27.40M 28.75M 31.30M 32.60M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.55 -2.58 -3.57 1.59 -0.66 0.73 -1.16 -7.33 0.22 17 31
Normalized NOPAT Margin		 -2.65% -4.09% -5.86% 2.77% -1.19% 1.25% -1.66% -9.28% 0.26% 9.99% 12.31%
Pre Tax Income Margin		 -3.73% -7.59% -8.33% 2.72% -1.91% 1.79% -1.38% -13.27% 0.16% 14.36% 16.46%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% -0.81% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -5.91% -2.27% 0.00% -0.81% -85.36% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Innodata

This table displays calculated financial ratios and metrics derived from Innodata's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - 31,860,951.00 32,602,397.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 31,860,951.00 32,602,397.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.28 0.46
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 20.18% 34.77% 40.69% 65.62% 135.57% 126.64% 120.13% 79.38% 19.77% 22.30% 54.42%
EBITDA Growth		 200.64% 580.18% 450.34% 238.30% 528.93% 301.22% 278.85% 501.03% 4.26% 0.59% 93.96%
EBIT Growth		 126.90% 214.08% 172.60% 152.21% 1,287.73% 473.89% 521.95% 2,592.15% 2.96% -2.87% 104.30%
NOPAT Growth		 119.45% 241.74% 172.61% 97.57% 4,067.10% 499.07% 723.60% 62,915.46% -53.58% -16.81% 89.31%
Net Income Growth		 111.52% 184.58% 146.85% 98.90% 4,440.73% 522.16% 686.57% 80,311.11% -52.03% -14.27% 91.32%
EPS Growth		 108.33% 187.50% 137.50% 100.00% 5,000.00% 400.00% 633.33% 0.00% -52.94% -25.71% 90.91%
Operating Cash Flow Growth		 -27.40% -74.32% 279.32% -118.92% 608.03% 15,102.63% 60.59% 1,032.82% 65.06% -25.02% 245.34%
Free Cash Flow Firm Growth		 431.20% -128.48% -101.04% -156.08% -31.31% 384.52% -3,948.00% -51.37% 31.18% -96.73% 781.07%
Invested Capital Growth		 -42.76% 44.25% 14.78% 87.64% 181.73% 47.58% 139.62% 128.55% 13.33% 50.57% -42.65%
Revenue Q/Q Growth		 12.79% 17.79% 1.50% 22.82% 60.43% 13.32% -1.41% 0.08% 7.12% 15.71% 24.48%
EBITDA Q/Q Growth		 298.45% 55.24% -18.82% -32.63% 640.77% -0.96% -23.35% 6.88% 28.50% -4.45% 47.80%
EBIT Q/Q Growth		 229.81% 138.27% -32.18% -75.11% 3,350.45% -1.46% -26.50% 7.72% 31.96% -7.04% 54.61%
NOPAT Q/Q Growth		 193.82% 309.61% -45.40% -101.16% 160,858.78% -41.11% -24.94% -11.60% 18.80% 5.54% 70.80%
Net Income Q/Q Growth		 146.99% 332.38% -40.22% -100.91% 193,333.33% -40.76% -24.42% -7.29% 15.56% 5.89% 68.66%
EPS Q/Q Growth		 133.33% 600.00% -57.14% -100.00% 0.00% -31.37% -37.14% -9.09% 20.00% 8.33% 61.54%
Operating Cash Flow Q/Q Growth		 -33.06% -92.90% 5,835.96% -106.71% 2,604.63% 52.41% -37.30% -61.03% 343.19% -31.37% 189.26%
Free Cash Flow Firm Q/Q Growth		 -39.96% -129.26% 95.25% -6,620.04% 173.55% 21.20% -167.58% -151.29% 163.74% -96.98% 13,981.38%
Invested Capital Q/Q Growth		 16.96% 52.60% -29.62% 49.37% 75.61% -20.06% 14.27% 42.47% -12.92% 6.21% -56.47%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 9.29% 12.25% 9.79% 5.37% 24.81% 21.68% 16.86% 18.00% 21.60% 17.83% 21.17%
Operating Margin		 3.71% 7.51% 5.02% 1.02% 21.87% 19.02% 14.18% 15.26% 18.80% 15.10% 18.76%
EBIT Margin		 3.71% 7.51% 5.02% 1.02% 21.87% 19.02% 14.18% 15.26% 18.80% 15.10% 18.76%
Profit (Net Income) Margin		 1.73% 6.34% 3.74% -0.03% 33.30% 17.41% 13.35% 12.36% 13.34% 12.20% 16.54%
Tax Burden Percent		 50.59% 86.97% 70.01% -3.26% 151.93% 90.79% 92.71% 76.09% 68.50% 77.76% 85.91%
Interest Burden Percent		 91.98% 97.09% 106.32% 83.38% 100.23% 100.84% 101.54% 106.48% 103.57% 103.92% 102.62%
Effective Tax Rate		 49.41% 13.03% 29.99% 103.26% -51.93% 9.21% 7.29% 23.91% 31.51% 22.24% 14.09%
Return on Invested Capital (ROIC)		 14.95% 59.91% 45.09% -0.40% 326.60% 212.75% 199.11% 137.26% 139.54% 143.05% 308.01%
ROIC Less NNEP Spread (ROIC-NNEP)		 15.30% 60.32% 44.70% -0.41% 326.41% 212.47% 198.80% 136.11% 138.96% 142.53% 307.57%
Return on Net Nonoperating Assets (RNNOA)		 -7.45% -33.80% -29.93% 0.26% -194.47% -145.96% -146.87% -90.39% -96.56% -107.98% -262.77%
Return on Equity (ROE)		 7.50% 26.11% 15.16% -0.14% 132.13% 66.79% 52.24% 46.87% 42.97% 35.07% 45.24%
Cash Return on Invested Capital (CROIC)		 30.99% -57.73% 16.60% -26.67% 48.10% 167.59% 181.76% 138.52% 135.92% 109.55% 309.37%
Operating Return on Assets (OROA)		 5.70% 12.13% 8.41% 1.86% 41.56% 37.50% 30.39% 35.06% 37.19% 26.95% 31.68%
Return on Assets (ROA)		 2.65% 10.24% 6.26% -0.05% 63.28% 34.33% 28.61% 28.40% 26.38% 21.78% 27.93%
Return on Common Equity (ROCE)		 7.78% 26.98% 15.65% -0.14% 134.83% 67.39% 52.65% 47.19% 43.21% 35.11% 45.28%
Return on Equity Simple (ROE_SIMPLE)		 -19.70% 0.00% 8.03% 10.42% 41.98% 0.00% 46.99% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 0.42 1.71 0.93 -0.01 17 10 7.67 6.78 8.05 8.50 15
NOPAT Margin		 1.88% 6.53% 3.51% -0.03% 33.23% 17.27% 13.14% 11.61% 12.88% 11.74% 16.11%
Net Nonoperating Expense Percent (NNEP)		 -0.35% -0.41% 0.39% 0.01% 0.19% 0.28% 0.31% 1.15% 0.57% 0.52% 0.44%
Return On Investment Capital (ROIC_SIMPLE)		 - 6.64% 3.38% - - 16.10% 10.17% 7.83% 8.28% 7.94% 11.33%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 33.38% 31.41% 31.33% 27.71% 18.98% 26.20% 25.68% 24.17% 21.97% 23.17% 25.41%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 96.29% 92.49% 94.98% 98.98% 78.13% 80.98% 85.82% 84.74% 81.20% 84.90% 81.24%
Earnings before Interest and Taxes (EBIT)		 0.82 1.96 1.33 0.33 11 11 8.27 8.91 12 11 17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2.06 3.20 2.60 1.75 13 13 9.84 11 14 13 19
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 10.56 9.09 6.89 14.72 10.19 18.06 14.89 18.75 25.22 15.15 9.82
Price to Tangible Book Value (P/TBV)		 32.71 23.68 16.25 32.75 15.31 23.82 18.76 23.00 30.16 17.82 11.23
Price to Revenue (P/Rev)		 3.02 2.69 2.01 3.97 3.54 6.72 5.55 7.13 10.29 6.45 4.44
Price to Earnings (P/E)		 0.00 0.00 86.38 142.23 24.29 39.99 31.69 38.09 72.95 50.44 32.04
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 1.16% 0.70% 4.12% 2.50% 3.16% 2.63% 1.37% 1.98% 3.12%
Enterprise Value to Invested Capital (EV/IC)		 30.84 19.61 21.62 34.83 22.25 66.65 56.62 58.33 101.81 62.06 105.62
Enterprise Value to Revenue (EV/Rev)		 2.82 2.53 1.80 3.81 3.34 6.45 5.27 6.86 9.98 6.12 4.03
Enterprise Value to EBITDA (EV/EBITDA)		 193.04 43.54 20.32 42.61 22.39 36.48 28.55 33.95 50.99 32.95 20.39
Enterprise Value to EBIT (EV/EBIT)		 0.00 689.21 48.87 92.05 30.52 45.16 34.11 39.29 59.22 38.65 23.54
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 76.11 132.62 22.92 38.56 30.27 37.44 72.88 49.75 30.17
Enterprise Value to Operating Cash Flow (EV/OCF)		 36.23 37.13 15.62 50.94 25.79 31.39 27.28 35.75 46.49 32.96 15.59
Enterprise Value to Free Cash Flow (EV/FCFF)		 72.47 0.00 139.23 0.00 68.29 47.41 43.96 58.58 79.58 68.08 24.89
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.49 -0.56 -0.67 -0.63 -0.60 -0.69 -0.74 -0.66 -0.69 -0.76 -0.85
Leverage Ratio		 2.66 2.50 2.53 2.44 2.09 1.96 1.85 1.73 1.67 1.65 1.65
Compound Leverage Factor		 2.45 2.42 2.69 2.03 2.10 1.97 1.87 1.84 1.73 1.72 1.69
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 -3.21% -2.83% -2.63% -2.48% -1.49% -0.13% -0.11% -0.10% -0.09% -0.08% -0.06%
Common Equity to Total Capital		 103.21% 102.83% 102.63% 102.48% 101.49% 100.13% 100.11% 100.10% 100.09% 100.08% 100.06%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 5.55 5.60 4.68 8.46 9.55 16.24 16.18 24.11 29.24 18.56 11.83
Noncontrolling Interest Sharing Ratio		 -3.68% -3.33% -3.21% -2.96% -2.04% -0.90% -0.77% -0.68% -0.54% -0.10% -0.08%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.28 1.40 1.46 1.45 1.84 2.05 2.36 2.87 2.69 2.68 2.49
Quick Ratio		 1.11 1.23 1.31 1.32 1.66 1.90 2.20 2.67 2.54 2.55 2.34
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 5.89 -1.72 -0.08 -5.50 4.04 4.90 -3.31 -8.32 5.30 0.16 23
Operating Cash Flow to CapEx		 122.78% 9.16% 505.38% -16.64% 781.51% 781.03% 462.43% 247.95% 443.92% 457.10% 1,538.99%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.54 1.61 1.68 1.83 1.90 1.97 2.14 2.30 1.98 1.78 1.69
Accounts Receivable Turnover		 7.98 7.29 8.39 8.09 8.11 8.06 9.27 8.73 7.62 6.75 7.51
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 31.44 36.22 39.96 37.66 48.23 53.42 59.36 57.17 45.56 41.71 44.66
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 45.72 50.09 43.53 45.09 44.98 45.29 39.37 41.83 47.93 54.04 48.63
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 45.72 50.09 43.53 45.09 44.98 45.29 39.37 41.83 47.93 54.04 48.63
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 7.32 11 7.87 12 21 16 19 27 23 25 11
Invested Capital Turnover		 7.96 9.17 12.83 11.92 9.83 12.32 15.15 11.82 10.84 12.18 19.11
Increase / (Decrease) in Invested Capital		 -5.47 3.43 1.01 5.49 13 5.32 11 15 2.75 8.34 -8.04
Enterprise Value (EV)		 226 219 170 409 459 1,099 1,067 1,566 2,380 1,541 1,142
Market Capitalization		 241 234 190 426 486 1,146 1,124 1,626 2,454 1,623 1,259
Book Value per Share		 $0.81 $0.90 $0.96 $1.01 $1.65 $2.19 $2.41 $2.73 $3.06 $3.36 $3.93
Tangible Book Value per Share		 $0.26 $0.34 $0.41 $0.45 $1.10 $1.66 $1.91 $2.23 $2.56 $2.86 $3.44
Total Capital		 22 25 27 28 47 63 75 87 97 107 128
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -15 -14 -19 -17 -26 -47 -57 -60 -74 -82 -117
Capital Expenditures (CapEx)		 1.31 1.24 1.34 2.73 1.46 2.22 2.35 1.71 4.23 2.82 2.42
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -8.42 -4.68 -7.38 -4.56 -1.39 -5.40 -3.34 5.78 1.40 2.63 -13
Debt-free Net Working Capital (DFNWC)		 6.41 9.14 12 12 25 41 53 66 75 85 104
Net Working Capital (NWC)		 6.41 9.14 12 12 25 41 53 66 75 85 104
Net Nonoperating Expense (NNE)		 0.03 0.05 -0.06 -0.00 -0.04 -0.09 -0.12 -0.44 -0.29 -0.33 -0.38
Net Nonoperating Obligations (NNO)		 -15 -14 -19 -17 -26 -47 -57 -60 -74 -82 -117
Total Depreciation and Amortization (D&A)		 1.24 1.24 1.27 1.42 1.54 1.58 1.56 1.60 1.75 1.98 2.18
Debt-free, Cash-free Net Working Capital to Revenue		 -10.52% -5.39% -7.82% -4.25% -1.01% -3.17% -1.65% 2.53% 0.59% 1.05% -4.71%
Debt-free Net Working Capital to Revenue		 8.00% 10.54% 12.29% 11.15% 18.19% 24.34% 26.30% 28.74% 31.56% 33.72% 36.70%
Net Working Capital to Revenue		 8.00% 10.54% 12.29% 11.15% 18.19% 24.34% 26.30% 28.74% 31.56% 33.72% 36.70%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.01 $0.07 $0.03 $0.00 $0.60 $0.35 $0.25 $0.23 $0.26 $0.27 $0.46
Adjusted Weighted Average Basic Shares Outstanding		 28.46M 28.13M 28.75M 28.88M 28.99M 29.16M 31.43M 31.79M 31.85M 31.81M 32.63M
Adjusted Diluted Earnings per Share		 $0.01 $0.07 $0.03 $0.00 $0.51 $0.35 $0.22 $0.20 $0.24 $0.26 $0.42
Adjusted Weighted Average Diluted Shares Outstanding		 32.46M 28.13M 32.24M 28.88M 34.01M 32.18M 34.95M 35.30M 35.27M 35.03M 35.57M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 28.71M 28.75M 28.75M 28.99M 29.00M 31.30M 31.75M 31.85M 31.86M 32.60M 32.66M
Normalized Net Operating Profit after Tax (NOPAT)		 0.42 1.71 0.93 0.23 7.99 10 7.67 6.78 8.05 8.50 15
Normalized NOPAT Margin		 1.88% 6.53% 3.51% 0.71% 15.31% 17.27% 13.14% 11.61% 12.88% 11.74% 16.11%
Pre Tax Income Margin		 3.41% 7.29% 5.34% 0.85% 21.92% 19.18% 14.40% 16.25% 19.47% 15.69% 19.25%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Here are key takeaways for Innodata (INOD) based on the quarterly statements provided for the last four years, focusing on the latest four quarters (2025) and including prior years for trend context.

  • Total revenue rose to $72.38 million in Q4 2025, up from $59.10 million in Q4 2024 and well above $26.11 million in Q4 2023, signaling strong multi-year growth.
  • Cash flow from continuing operating activities was positive in all four 2025 quarters, with 12.88M in Q4 2025, 18.77M in Q3 2025, 4.24M in Q2 2025, and 10.87M in Q1 2025, indicating solid cash generation.
  • Net income attributable to common shareholders in Q4 2025 was $8.83 million, contributing to a positive quarterly earnings profile; profitability was positive in other 2025 quarters as well.
  • The company maintained a robust liquidity position, with cash and cash equivalents around $73.9 million at Q3 2025, supporting operations and potential investments.
  • Equity and dilution characteristics: Weighted average basic shares outstanding were about 31.8 million and diluted about 35.0 million in Q4 2025, indicating modest dilution risk.
  • Reported gross margins appear to be near 100% in several quarters due to lack of cost of revenue data, making true margin assessment limited from these figures.
  • Financing cash flow has been mixed in 2025, with positive net cash from continuing financing activities in Q1 and Q2, followed by negatives in Q3 and Q4 2025.
  • Earnings per share declined in Q4 2025 to $0.27 (basic) and $0.26 (diluted) from $0.35 (basic) and $0.35 (diluted) in Q4 2024.
  • Net cash from financing activities was negative in Q3 2025 (-$0.097 million) and Q4 2025 (-$1.568 million), suggesting higher financing needs or less favorable financing terms late in 2025.
  • Net income in Q4 2025 ($8.83 million) is down from Q4 2023’s restated level of about $16.52 million, indicating some year-over-year profitability variability.
05/14/26 12:51 PM ETAI Generated. May Contain Errors.

Innodata Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Innodata's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Innodata's net income appears to be on an upward trend, with a most recent value of $32.18 million in 2025, falling from -$3.38 million in 2015. The previous period was $28.68 million in 2024. Check out Innodata's forecast to explore projected trends and price targets.

Innodata's total operating income in 2025 was $39.87 million, based on the following breakdown:
  • Total Gross Profit: $251.66 million
  • Total Operating Expenses: $211.79 million

Over the last 10 years, Innodata's total revenue changed from $58.52 million in 2015 to $251.66 million in 2025, a change of 330.0%.

Innodata's total liabilities were at $61.53 million at the end of 2025, a 22.9% increase from 2024, and a 272.2% increase since 2015.

In the past 10 years, Innodata's cash and equivalents has ranged from $9.79 million in 2022 to $82.23 million in 2025, and is currently $82.23 million as of their latest financial filing in 2025.

Over the last 10 years, Innodata's book value per share changed from 1.50 in 2015 to 3.36 in 2025, a change of 124.3%.


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Financial statements for NASDAQ:INOD last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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