INOD - Innodata Stock Soars On Q1 Results FY24 Guidance | Benzinga
Innodata Inc. (NASDAQ:INOD) shares are trading higher Wednesday after the company posted a year -over-year increase in its first-quarter financial results. Here's a look at the highlights.
The Details:
Innodata reported earnings of 3 cents per share, up from losses of 8 cents per share from the same period last year. Quarterly sales came in at $26.5 million, up from $18.84 million in the prior year's period.
The company also raised its guidance to at least 40% organic revenue growth in 2024.
Innodata announced it has been awarded an expansion of one of its large language model (LLM) development programs by one of its existing “Magnificent Seven” Big Tech customers. Innodata anticipates that the expansion will result in approximately $23.5 million of additional annualized run rate revenue once implemented. This is in addition to the $20 million in new programs with ...