Innodata Inc. Files Q3 2024 10-Q Report
Ticker: INOD · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 903651
| Field | Detail |
|---|---|
| Company | Innodata Inc (INOD) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
INNODATA INC 10-Q FILED: Q3 2024 FINANCIALS OUT NOW
AI Summary
Innodata Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial figures and strategic developments are presented within this report.
Why It Matters
This filing provides investors and stakeholders with the latest financial health and operational status of Innodata Inc., crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Players & Entities
- INNODATA INC (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241107 (date) — Filing date of the report
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted to the SEC on November 7, 2024.
What is the company's Standard Industrial Classification (SIC) code?
The company's SIC code is 7374, which falls under SERVICES-COMPUTER PROCESSING & DATA PREPARATION.
What is the company's state of incorporation?
Innodata Inc. is incorporated in Delaware (DE).
What is the company's fiscal year end date?
The company's fiscal year ends on December 31.
Filing Stats: 4,565 words · 18 min read · ~15 pages · Grade level 16 · Accepted 2024-11-07 17:01:07
Key Financial Figures
- $0.01 — hares of the registrant's common stock, $0.01 par value per share, as of November 1,
Filing Documents
- inod-20240930x10q.htm (10-Q) — 2563KB
- inod-20240930xex31d1.htm (EX-31.1) — 11KB
- inod-20240930xex31d2.htm (EX-31.2) — 11KB
- inod-20240930xex32d1.htm (EX-32.1) — 6KB
- inod-20240930xex32d2.htm (EX-32.2) — 6KB
- 0001410578-24-001800.txt ( ) — 10800KB
- inod-20240930.xsd (EX-101.SCH) — 56KB
- inod-20240930_cal.xml (EX-101.CAL) — 60KB
- inod-20240930_def.xml (EX-101.DEF) — 208KB
- inod-20240930_lab.xml (EX-101.LAB) — 427KB
- inod-20240930_pre.xml (EX-101.PRE) — 361KB
- inod-20240930x10q_htm.xml (XML) — 2568KB
– Financial Information
Part I – Financial Information Page No. Item 1.
Financial Statements
Financial Statements Condensed Consolidated Financial Statements (Unaudited): Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 2 Condensed Consolidated Statements of Operations and Comprehensive Income for the three months ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the t hree and nine months ended September 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.
Controls and Procedures
Controls and Procedures 43
– Other Information
Part II – Other Information Item 1.
Legal Proceedings
Legal Proceedings 44 Item 1A.
Risk Factors
Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3. Defaults Upon Senior Securities 44 Item 4. Mine Safety Disclosures 44 Item 5. Other Information 44 Item 6. Exhibits 45
Signatures
Signatures 46 1 Table of Contents
FINANCIAL INFORMATION
Part I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements INNODATA INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share and per share amounts) September 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 26,364 $ 13,806 Short term investments – other 14 14 Accounts receivable, net of allowance for credit losses 23,186 14,288 Prepaid expenses and other current assets 5,221 3,969 Total current assets 54,785 32,077 Property and equipment, net 3,325 2,281 Right-of-use-asset, net 4,435 5,054 Other assets 1,771 2,445 Deferred income taxes, net 7,890 1,741 Intangibles, net 13,880 13,758 Goodwill 2,084 2,075 Total assets $ 88,170 $ 59,431 LIABILITIES, NON-CONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 3,494 $ 2,662 Accrued expenses 4,198 3,060 Accrued salaries, wages and related benefits 9,619 7,799 Deferred revenues 6,500 3,523 Income and other taxes 3,961 3,848 Long-term obligations - current portion 1,166 1,261 Operating lease liability - current portion 855 782 Total current liabilities 29,793 22,935 Deferred income taxes, net 30 22 Long-term obligations, net of current portion 7,311 6,778 Operating lease liability, net of current portion 4,027 4,701 Total liabilities 41,161 34,436 Commitments and contingencies - - Non-controlling interests ( 700 ) ( 708 ) STOCKHOLDERS' EQUITY : Serial preferred stock; 4,998,000 shares authorized, none issued and outstanding - - Common stock, $ .01 par value; 75,000,000 shares authorized; 32,184,000 shares issued and 29,000,000 outstanding at September 30, 2024 and 31,937,000 shares issued and 28,753,000 outstanding at December 31, 2023 322 320 Additional paid-in capital 46,744 43,152 Retained earnings (Deficit) 8,681 ( 9,683 ) Accumulated other comprehensive loss ( 1,573 )