Innodata Targets 40% Revenue Growth with AI Advancements

Published 8 hours agoINOD

Innodata Targets 40% Revenue Growth with AI Advancements

Innodata Inc. has set an ambitious target to grow its revenue by 40% by 2025, driven largely by advancements in artificial intelligence solutions. The company revealed impressive financial results for the fourth quarter of 2024, with a record revenue of $59.2 million, reflecting a 127% increase from the previous year. Over the full year, Innodata reported $170.5 million in annual revenue, marking a 96% increase from 2023, according to its investor reports.

To support this growth outlook, Innodata plans to reinvest operating cash flow into its business and aims to increase adjusted EBITDA in 2025. The company ended 2024 with $46.9 million in cash and an undrawn credit facility of $30 million, providing significant financial flexibility for executing strategic initiatives. Innodata is also well-positioned to benefit from rising AI investments among technology companies and innovations reducing AI compute costs, as highlighted by advancements from DeepSeek.

Part of its growth strategy involves expanding its customer base, as evidenced by securing additional contracts with its largest customer worth $24 million annually, boosting annualized revenue to $135 million from this client alone. Furthermore, revenue from seven other Big Tech clients surged by 159% in the fourth quarter, affirming its successful land-and-expand strategy. Innodata’s focus on providing data engineering services for developing generative AI models plays a crucial role in this growth trajectory.

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