The following is a summary of the Innodata Inc. (INOD) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 revenue reached $52.2 million, a year-over-year increase of 136%.

• Adjusted EBITDA for Q3 was $13.9 million, or 27% of revenue, significantly up from last year.

• Net income for Q3 was $17.4 million, benefiting from a deferred tax asset recognition, up significantly from $371,000 in the same period last year.

Business Progress:

• Innodata has expanded its client base and deepened its engagements with Big Tech companies, focusing on data engineering for generative AI models.

• Signed agreements and initiated pilots likely to result in substantial revenue growth, including a new engagement with a major social media platform and ongoing expansions with existing Big Tech clients.

• Broadened federal government engagement with a new deal to provide news briefs and media monitoring, leveraging AI capabilities.

Opportunities:

• Expecting to capitalize on the growing investments of Big Tech companies in generative AI, particularly in creating supervised fine-tuning data crucial for training AI models.

• Expansion into enterprise services targeting businesses for adopting generative AI with comprehensive support from integration, customization, and strategic consulting.

• Continued development of enterprise platforms like Agility, with enhancements to leverage generative AI for specialized industry applications.

Risks:

• No explicit risks detected.

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