Innodata achieved record Q2 2024 revenue of $32.6M, up 66% YoY, with breakeven EPS despite $3.6M in recruitment costs. Adjusted EBITDA reached $2.8M, increasing 76% YoY. The company secured significant new Large Language Model development programs from a Big Tech customer worth $87.5M in annualized revenue.The company has expanded its Big Tech partnership to approximately $110.5M in annualized run rate revenue within one year. Notable new customer wins include potential engagements with another major Big Tech firm, a prominent social media platform, a clinical healthcare provider, and a federal government agency. Management raised full-year 2024 revenue growth guidance to 60% or more.Innodata maintains a strong financial position with $16.5M cash balance, up from $13.8M at 2023-end. The company increased its credit facility with Wells Fargo from $10M to $30M, with potential expansion to $50M. Q3 2024 Adjusted EBITDA is expected to triple Q2 levels due to reduced recruitment costs and operating leverage from growth.

Innodata achieved record Q2 2024 revenue of $32.6M, up 66% YoY, with breakeven EPS despite $3.6M in recruitment costs. Adjusted EBITDA reached $2.8M, increasing 76% YoY. The company secured significant new Large Language Model development programs from a Big Tech customer worth $87.5M in annualized revenue.The company has expanded its Big Tech partnership to approximately $110.5M in annualized run rate revenue within one year. Notable new customer wins include potential engagements with another major Big Tech firm, a prominent social media platform, a clinical healthcare provider, and a federal government agency. Management raised full-year 2024 revenue growth guidance to 60% or more.Innodata maintains a strong financial position with $16.5M cash balance, up from $13.8M at 2023-end. The company increased its credit facility with Wells Fargo from $10M to $30M, with potential expansion to $50M. Q3 2024 Adjusted EBITDA is expected to triple Q2 levels due to reduced recruitment costs and operating leverage from growth.