Innodata Inc. (INOD) stock surged 14.37% in the pre-market session on Friday, driven by the company's impressive fourth-quarter 2024 earnings report and bullish forecast for 2025.
The data engineering and AI solutions provider reported record growth in Q4, with revenue soaring 127% year-over-year to $59.2 million, surpassing its own guidance. For the full year 2024, Innodata achieved revenue of $170.5 million, up 96% from 2023, and adjusted EBITDA skyrocketed 250% to $34.6 million.
Investors cheered Innodata's promising outlook for 2025, as the company forecasted 40% or more revenue growth for the year. Additionally, Innodata expanded its annualized run rate revenue with its largest customer to approximately $135 million, further solidifying its growth prospects. The company ended 2024 with a robust cash position of $46.9 million and an undrawn $30 million credit facility, providing ample resources to fuel its expansion.
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