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Innodata's Q3 Earnings & Revenues Top, Gross Margin Flat Y/Y

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Key Takeaways

  • Q3 revenues rose 19.8% YoY to $62.6M, driven by strength in DDS and Agility despite Synodex weakness.
  • Adjusted EPS of $0.24 topped estimates by 71%, though the bottom line fell YoY amid higher operating expenses.
  • New big-tech deals and 45% expected 2025 organic growth underscore Innodata's expanding AI services demand.

Innodata Inc. (INOD - Free Report) reported better-than-expected third-quarter 2025 results with adjusted earnings per share (EPS) and revenues topping the Zacks Consensus Estimate. Year over year, the top line grew while the bottom line tumbled.

The quarterly performance reflects higher demand volumes for its service offerings. The growth was primarily attributable to increased contributions from the DDS and Agility segments, which were somewhat offset by the weak performance of the Synodex segment.

On the other hand, elevated selling and administrative expenses alongside high direct operating costs pulled back the bottom line’s growth during the third quarter.

Nonetheless, deal expansion with its largest customer, accompanied by new award wins from big tech companies, is expected to result in revenue scale in the upcoming period.

INOD’s Q3 Highlights

The company reported an adjusted EPS of 24 cents, surpassing the Zacks Consensus Estimate of 14 cents by 71.4%. In the year-ago quarter, it reported an adjusted EPS of 51 cents.

Revenues of $62.6 million also topped the consensus mark of $60 million by 4.6% and grew 19.8% year over year.

Innodata Inc. Price, Consensus and EPS Surprise

Innodata Inc. Price, Consensus and EPS Surprise

Innodata Inc. price-consensus-eps-surprise-chart | Innodata Inc. Quote

Adjusted gross profit increased year over year by 20.9% to $27.7 million, with the adjusted gross margin remaining flat at 44%.

Innodata’s Segmental Details

DDS Segment: This segment’s revenues increased to $54.8 million from $44.7 million reported a year ago, due to higher volume from existing customers.

Adjusted gross profit increased year over year by 27.8% to $23.4 million, with the adjusted gross margin expanding 200 basis points (bps) to 43%.

Synodex Segment: This segment’s revenues declined to $1.7 million from $1.9 million reported a year ago, due to the termination of a contract with one customer.

Adjusted gross profit tumbled year over year by 61.2% to $0.2 million, with the adjusted gross margin contracting 1,700 bps to 14% from 31%.

Agility Segment: This segment’s revenues increased to $6.1 million from $5.6 million reported a year ago, because of higher volumes from subscriptions to its Agility AI-enabled industry platform.

Adjusted gross profit increased year over year by 1.7% to $4.1 million, with the adjusted gross margin declining 500 bps to 66%.

INOD’s Balance Sheet & Cash Flow

As of the third quarter, INOD had cash and cash equivalents of $73.9 million, up from $46.9 million at 2024-end. Long-term debt (net of current portion) was $7.6 million as of Sept. 30, 2025, up from $6.7 million as of 2024.

Net cash provided by operating activities was $33.9 million as of the first nine months of 2025, up from net cash provided by operating activities of $17.7 million in the year-ago period.

Innodata Reiterates 2025 Expectations

The company expects 45% or more of organic revenue growth year over year.

It also expects continued transformative growth in 2026, given the new award wins and strong market momentum.

INOD’s Zacks Rank & Recent Computer & Technology Releases

Innodata currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Paycom reported revenues of $493.3 million, which outpaced the consensus mark of $492.4 million. The top line increased 9.1% year over year, primarily benefiting from increased sales momentum, international expansion and Artificial Intelligence (AI) integration in its products. Paycom reiterated its revenue guidance for 2025, with revenues expected in the band of $2.045-$2.055 billion and adjusted EBITDA between $872 million and $882 million.

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