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Innodata | 10-Q: Q3 2024 Earnings Report

Innodata | 10-Q: Q3 2024 Earnings Report

Innodata | 10-Q：2024财年三季报
美股SEC公告 ·  2024/11/08 06:09

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Innodata Inc. reported exceptional third-quarter 2024 results with revenues surging 136% to $52.2 million, compared to $22.2 million in Q3 2023. Net income skyrocketed to $17.4 million from $0.4 million in the prior year quarter. The Digital Data Solutions segment led growth with revenues of $44.7 million, up 178% year-over-year, driven primarily by increased volume from an existing customer.The company demonstrated strong operational performance with gross margin improving to 41% from 37% in Q3 2023. Direct operating costs increased to $30.9 million from $13.9 million, while selling and administrative expenses rose to $9.9 million from $7.4 million. The company also recorded a $5.9 million tax benefit due to the release of U.S. deferred tax asset valuation allowance.Looking at segment performance, Synodex revenue grew 12% to $1.9 million while Agility revenue increased 27% to $5.6 million. The company ended the quarter with a strong liquidity position, including $26.4 million in cash and cash equivalents. Management secured an amended credit agreement providing access to up to $30 million in revolving credit facility, expandable to $50 million subject to lender approval.
Innodata Inc. reported exceptional third-quarter 2024 results with revenues surging 136% to $52.2 million, compared to $22.2 million in Q3 2023. Net income skyrocketed to $17.4 million from $0.4 million in the prior year quarter. The Digital Data Solutions segment led growth with revenues of $44.7 million, up 178% year-over-year, driven primarily by increased volume from an existing customer.The company demonstrated strong operational performance with gross margin improving to 41% from 37% in Q3 2023. Direct operating costs increased to $30.9 million from $13.9 million, while selling and administrative expenses rose to $9.9 million from $7.4 million. The company also recorded a $5.9 million tax benefit due to the release of U.S. deferred tax asset valuation allowance.Looking at segment performance, Synodex revenue grew 12% to $1.9 million while Agility revenue increased 27% to $5.6 million. The company ended the quarter with a strong liquidity position, including $26.4 million in cash and cash equivalents. Management secured an amended credit agreement providing access to up to $30 million in revolving credit facility, expandable to $50 million subject to lender approval.
Innodata Inc.公布了2024年第三季度的卓越业绩，营业收入猛增136%至5220万美元，较2023年第三季度的2220万美元大幅上升。净利润从去年同期的40万美元飙升至1740万美元。数字数据解决方案部门主导了增长，营业收入达到4470万美元，同比增加178%，主要受益于现有客户成交量的增加。该公司展示了强劲的运营表现，毛利率从2023年第三季度的37%提升至41%。直接运营成本从1390万美元增加到3090万美元，而销售和行政费用则从740万美元上升到990万美元。公司还因释放美国递延税资产估值准备录得590万美元的税收收益。从部门业绩来看，Synodex的营业收入增长12%，达到190万美元，而Agility的营业收入增长27%，达到560万美元。公司以强劲的流动性结束了本季度，包括2640万美元的现金及现金等价物。管理层获得了一项修改后的信贷协议，提供最高3000万美元的循环信贷额度，扩大至5000万美元需经贷款方批准。
Innodata Inc.公布了2024年第三季度的卓越业绩，营业收入猛增136%至5220万美元，较2023年第三季度的2220万美元大幅上升。净利润从去年同期的40万美元飙升至1740万美元。数字数据解决方案部门主导了增长，营业收入达到4470万美元，同比增加178%，主要受益于现有客户成交量的增加。该公司展示了强劲的运营表现，毛利率从2023年第三季度的37%提升至41%。直接运营成本从1390万美元增加到3090万美元，而销售和行政费用则从740万美元上升到990万美元。公司还因释放美国递延税资产估值准备录得590万美元的税收收益。从部门业绩来看，Synodex的营业收入增长12%，达到190万美元，而Agility的营业收入增长27%，达到560万美元。公司以强劲的流动性结束了本季度，包括2640万美元的现金及现金等价物。管理层获得了一项修改后的信贷协议，提供最高3000万美元的循环信贷额度，扩大至5000万美元需经贷款方批准。
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