Innodata reports Q2 EPS (3c) vs. (14c) last year
The Fly

Innodata reports Q2 EPS (3c) vs. (14c) last year

Reports Q2 revenue $19.7M vs. $20.0M last year. Jack Abuhoff, CEO, said, “Today we are announcing yet another highly anticipated win, which we expect gets signed tomorrow. We have now landed all of the deals we presented last quarter as potentially transformative. In the last eight weeks we have made four deal announcements. Two are with new customers, including the deal we are announcing today, and two are with an existing customer. All of these customers are among the top five global technology companies in the world. These engagements support AI and large language model development. Since these wins have all come in just the last eight weeks, they are not yet reflected in our financial results. We believe that these wins are potentially transformative for our company. Moreover, we believe that we are in the very early stages of exploiting a market opportunity which itself is in its early stages and for which – as our last eight weeks of wins demonstrate – we believe we are particularly well-suited. To give you a sense of the magnitude of our addressable market, an industry analyst recently estimated that AI-focused IT services are among the four hottest market opportunities in generative AI, all with 10-year CAGRs of 100% or more, with the market likely to grow from $83 million in 2022, to $21.7 billion by 2027 and to $85.9 billion by 2032.”

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