Innodata's stock soared 60.91% during Friday's intraday trading session, following the release of its first-quarter 2026 financial results which significantly exceeded analyst expectations.

The artificial intelligence data engineering company reported quarterly adjusted earnings of $0.42 per share, beating the consensus estimate of $0.17 per share. Revenue rose 54% year-over-year to $90.1 million, surpassing the $76.5 million estimate. The company also raised its full-year 2026 revenue growth forecast to "approximately 40% or more year-over-year," up from prior guidance of approximately 35%.

Key drivers for the positive results include new engagements with a major Big Tech customer expected to generate about $51 million in revenue this year, with revenue from other Big Tech customers collectively rising 453% year-over-year in the first quarter. CEO Jack Abuhoff noted improved customer diversification, with the company's largest customer expected to account for a smaller share of total revenue in 2026 even as absolute revenue from that customer increases.