Innodata Inc sees 20% year over year growth as company reports positive Q3 numbers

Cloud PRWire

–News Direct–

Innodata Inc CEO Jack Abuhoff joined Steve Darling from Proactive to share significant news about the company's growth and future plans.

Innodata specializes in data engineering and plays a crucial role in supporting technology giants in building large language models and generative AI. It recently reported robust financial results for the third quarter ending on September 30, 2023. Notably, the company achieved a quarterly revenue of $22.2 million, marking an impressive 20% increase year-over-year.

Abuhoff expressed his satisfaction with the company's performance during this period and highlighted a significant achievement in terms of Adjusted EBITDA, which reached $3.2 million, representing a remarkable 100% sequential quarter-on-quarter growth.

Looking ahead to the fourth quarter and beyond, Innodata has ambitious plans for continued growth. These plans include acquiring more contracts, developing new products, and expanding services to assist enterprises in seamlessly integrating and optimizing AI technologies.

Abuhoff conveyed his confidence in Innodata's ability to drive growth through existing partnerships, new collaborations, and direct sales efforts. As businesses across various sectors adapt to the transformative impact of AI, Innodata aims to position itself as a leading force in guiding them through this profound change.

The company's commitment to innovation and its track record of delivering valuable data engineering solutions place it in a favorable position to continue its growth trajectory in the dynamic and evolving field of AI technology.

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