Innodata Inc. (INOD) stock surged 17.96% in the pre-market trading session on Friday, driven by the company's exceptional fourth-quarter 2024 earnings and promising growth outlook for 2025.
The data engineering and AI solutions provider reported record growth in Q4, with revenue skyrocketing 127% year-over-year to $59.2 million, surpassing analyst expectations. For the full year 2024, Innodata achieved revenue of $170.5 million, up 96% from 2023, and adjusted EBITDA soared 250% to $34.6 million.
Investors cheered Innodata's robust forecast for 2025, as the company projected 40% or more revenue growth for the year, indicating strong growth prospects ahead. Additionally, Innodata ended 2024 with a solid cash position of $46.9 million and an undrawn $30 million credit facility, providing ample resources to fuel its expansion plans.
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