Innodata Reports Record Third Quarter 2026 Results

• Reve ue Up 53% Yea -Ove -Yea , Beats Co se sus by 15%
• Adjusted EBITDA of $17.7 Millio , Beats Co se sus by 15%
• Raises Full-Yea 2026 Reve ue G owth Guida ce to ~42% o Mo e, Up F om ~40% o Mo e

NEW YORK, NY / ACCESS Newswi e / Novembe 5, 2026 / INNODATA INC. (Nasdaq:INOD) today epo ted esults fo the thi d qua te e ded Septembe 30, 2026.

• Reve ue of $95.6 millio , ep ese ti g 53% yea -ove -yea eve ue g owth.
• Adjusted G oss P ofit of $38.3 millio , ep ese ti g Adjusted G oss Ma gi of 40%.*
• Adjusted EBITDA of $17.7 millio , o 18.5% of eve ue, a i c ease of $1.5 millio f om $16.2 millio i the same pe iod last yea .*
• Net i come of $10.3 millio , o $0.30 pe basic sha e a d $0.29 pe diluted sha e fo the th ee-mo th pe iod e ded Septembe 30, 2026, compa ed to et i come of $8.3 millio , o $0.26 pe basic sha e a d $0.24 pe diluted sha e, i the same pe iod last yea .
• Cash a d cash equivale ts of $164.0 millio as of Septembe 30, 2026, a i c ease of $81.7 millio f om $82.2 millio as of Decembe 31, 2025. Cash as of Septembe 30, 2026 i cludes custome p epayme ts elated to pass-th ough costs; et of these p epayme ts, cash was app oximately $153.7 millio as of Septembe 30, 2026.

* Adjusted G oss P ofit, Adjusted G oss Ma gi , a d Adjusted EBITDA a e o -GAAP fi a cial measu es a d a e defi ed below.

Rahul Si ghal, CEO, said, “Q3 was a othe eco d eve ue qua te fo I odata. Reve ue of $95.6 millio g ew 53% yea -ove -yea a d exceeded a alyst co se sus by app oximately $12.3 millio , o 15%, ma ki g ou 13th co secutive qua te of yea -ove -yea g owth. Adjusted EBITDA of $17.7 millio exceeded co se sus by app oximately 15%, et i come of $10.3 millio g ew 24% yea -ove -yea , a d fully diluted ea i gs pe sha e of $0.29 beat co se sus by app oximately 70%. This is my fi st ea i gs epo t as CEO, a d I am pleased to be sta ti g with esults like these.

“The sto y of the qua te is the b eadth of what we a e wi i g. A custome that ep ese ted less tha 5% of ou eve ue a yea ago became ou la gest custome i Q3, givi g us two custome s of compa able scale a d mea i gfully adva ci g ou dive sificatio . We have al eady sig ed a additio al p og am with this custome i Q4 valued at app oximately $18 millio . Sepa ately, we wo five ew p og ams with a la ge hype scale f om which we ge e ated app oximately $3.1 millio of eve ue i the t aili g 12 mo ths; based o those wi s, we a e ow fo ecasti g mo e tha $20 millio of eve ue f om this custome i 2027. We also added five ew logos i Q3, i cludi g model builde s a d a e te p ise data platfo m.

“We believe we a e o the cusp of a p ofou d ma ket oppo tu ity i physical AI. We u de sta d that capital is flowi g i to obotics a d embodied i tellige ce faste tha i to a y catego y si ce the LLM boom bega , a d obot fou datio models imp ove with data the same way LLMs do. We lau ched ou motio captu e lab i Septembe fo huma oid obot a d wo ld model t ai i g, a d we a e i pilots with leadi g f o tie a d obotics labs. We a ticipate just o e of these pilots, if successful, will yield app oximately $7 millio i eve ue i 2027.

“We also co ti ue to gai t actio beyo d the f o tie labs. I e te p ise AI, we added ew elatio ships with a global tech ology ha dwa e compa y a d a majo fi a cial se vices fi m. I Fede al, we have a ve bal wi fo a co t act valued at $5 millio pe yea fo five yea s, which we expect to sig by the e d of the fou th qua te ; it would be the thi d p og am ou Fede al p actice has wo th ough ou p ime pa t e s i its fi st yea .

“With this mome tum, we a e aisi g ou full-yea 2026 eve ue g owth guida ce to 42% o mo e yea -ove -yea , up f om 40% o mo e, eve afte abso bi g the wi d-dow of a p og am at o e of ou la ge custome s that we expect to be eplaced by ew p og ams i Q1. We believe we a e positio ed at the ce te of the most impo ta t t a sitio i AI – the move to age ts, ei fo ceme t lea i g a d embodied i tellige ce – a d of the t ust a d safety wo k that we believe will be equi ed to make the t a sitio succeed. These a e, at thei co e, data challe ges, a d they a e squa ely i ou wheelhouse. I believe 2026 will fi ish as a st o g yea fo I odata, a d that 2027 will p ove eve mo e exciti g. It is a p ivilege to be leadi g this compa y at this mome t.”

Amou ts i this p ess elease have bee ou ded. All pe ce tages have bee calculated usi g u ou ded amou ts.

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About I odata

I odata (Nasdaq: INOD) is a global data e gi ee i g compa y. We believe that data a d A tificial I tellige ce (AI) a e i ext icably li ked. Ou missio is to e able the espo sible adva ceme t of a tificial i tellige ce by p ovidi g the data, evaluatio f amewo ks, a d huma expe tise equi ed to build AI systems that ca be t usted at scale. We p ovide a a ge of t a sfe able solutio s, platfo ms, a d se vices fo Ge e ative AI / AI builde s a d adopte s. I eve y elatio ship, we ho o ou 36+ yea legacy delive i g the highest quality data a d outsta di g outcomes fo ou custome s.

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Fo wa d-Looki g Stateme ts

This p ess elease may co tai ce tai fo wa d-looki g stateme ts withi the mea i g of Sectio 21E of the Secu ities Excha ge Act of 1934, as ame ded, a d Sectio 27A of the Secu ities Act of 1933, as ame ded. These fo wa d-looki g stateme ts i clude, without limitatio , stateme ts co ce i g ou ope atio s, eco omic pe fo ma ce, fi a cial co ditio , developme tal p og am expa sio a d positio i the AI se vices ma ket. Wo ds such as “p oject,” “fo ecast,” “believe,” “expect,” “ca ,” “co ti ue,” “could,” “i te d,” “may,” “should,” “will,” “a ticipate,” “i dicate,” “guide,” “p edict,” “likely,” “estimate,” “pla ,” “pote tial,” “possible,” “p omises,” o the egatives the eof, a d othe simila exp essio s ge e ally ide tify fo wa d-looki g stateme ts.

These fo wa d-looki g stateme ts a e based o ma ageme t’s cu e t expectatio s, assumptio s a d estimates a d a e subject to a umbe of isks a d u ce tai ties, i cludi g, without limitatio , impacts esulti g f om o goi g geopolitical co flicts; a ticipated a d actual use cases a d outcomes; i vestme ts i la ge la guage models; that co t acts may be te mi ated by custome s; p ojected o committed volumes of wo k may ot mate ialize; pipeli e oppo tu ities a d custome discussio s which may ot mate ialize i to wo k o expected volumes of wo k; the likelihood of co ti ued developme t of the AI ma kets, pa ticula ly ew a d eme gi g ma kets, that ou se vices suppo t; the ability a d willi g ess of ou custome s a d p ospective custome s to execute busi ess pla s that give ise to equi eme ts fo ou se vices; co ti ui g elia ce o p oject-based wo k a d the p ima ily at-will atu e of such co t acts a d the ability of these custome s to educe, delay o ca cel p ojects; pote tial i ability to eplace p ojects that a e completed, ca celed o educed; eve ue co ce t atio amo g a limited umbe of custome s; ou depe de cy o thi d-pa ty p ovide s a d pa t e s; ou ability to achieve eve ue a d g owth ta gets; difficulty i i teg ati g a d de ivi g sy e gies f om acquisitio s, joi t ve tu es a d st ategic i vestme ts; pote tial u discove ed liabilities of compa ies a d busi esses that we may acqui e; pote tial impai me t of the ca yi g value of goodwill a d othe acqui ed i ta gible assets of compa ies a d busi esses that we acqui e; a co ti ued dow tu i o dep essed ma ket co ditio s; cha ges i exte al ma ket facto s; the pote tial effects of U.S. global t ade a d mo eta y policy, i cludi g the i te est ate policies of the Fede al Rese ve; cha ges i ou busi ess o g owth st ategy; the eme ge ce of ew, o g owth i existi g competito s; va ious othe competitive a d tech ological facto s; ou use of a d elia ce o i fo matio tech ology systems, i cludi g pote tial secu ity b eaches, cybe -attacks, p ivacy b eaches o data b eaches that esult i the u autho ized disclosu e of co sume , custome , employee o compa y i fo matio , o se vice i te uptio s; a d othe isks a d u ce tai ties i dicated f om time to time i ou fili gs with the Secu ities a d Excha ge Commissio (“SEC”).

Ou actual esults could diffe mate ially f om the esults efe ed to i a y fo wa d-looki g stateme ts. Facto s that could cause o co t ibute to such diffe e ces i clude, but a e ot limited to, the isks discussed i Pa t I, Item 1A. “Risk Facto s,” Pa t II, Item 7. “Ma ageme t’s Discussio a d A alysis of Fi a cial Co ditio a d Results of Ope atio s,” a d othe pa ts of ou A ual Repo t o Fo m 10-K, filed with the SEC o Feb ua y 26, 2026, a d i ou othe fili gs that we may make with the SEC. I light of these isks a d u ce tai ties, the e ca be o assu a ce that the esults efe ed to i a y fo wa d-looki g stateme ts will occu , a d you should ot place u due elia ce o these fo wa d-looki g stateme ts. These fo wa d-looki g stateme ts speak o ly as of the date he eof.

We u de take o obligatio to update o eview a y guida ce o othe fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e developme ts o othe wise, except as may be equi ed by the U.S. fede al secu ities laws.

Compa y Co tact

A eesh Pe dha ka i vesto @i odata.com(201) 371-8000

No -GAAP Fi a cial Measu es

I additio to the fi a cial i fo matio p epa ed i co fo mity with U.S. GAAP (“GAAP”), we p ovide ce tai o -GAAP fi a cial i fo matio . We believe that these o -GAAP fi a cial measu es assist i vesto s i maki g compa iso s of pe iod-to-pe iod ope ati g esults. I some espects, ma ageme t believes o -GAAP fi a cial measu es a e mo e i dicative of ou o goi g co e ope ati g pe fo ma ce tha thei GAAP equivale ts by maki g adjustme ts that ma ageme t believes a e eflective of the o goi g pe fo ma ce of the busi ess.

We believe that the p ese tatio of this o -GAAP fi a cial i fo matio p ovides i vesto s a mo e complete u de sta di g of ou fi a cial pe fo ma ce, competitive positio , a d p ospects fo the futu e, pa ticula ly by p ovidi g the same i fo matio that ma ageme t a d ou Boa d of Di ecto s use to evaluate ou pe fo ma ce a d ma age the busi ess. Howeve , the o -GAAP fi a cial measu es p ese ted i this p ess elease have ce tai limitatio s i that they do ot eflect all of the costs associated with the ope atio s of ou busi ess as dete mi ed i acco da ce with GAAP. The efo e, i vesto s should co side o -GAAP fi a cial measu es i additio to, a d ot as a substitute fo , o as supe io to, measu es of fi a cial pe fo ma ce p epa ed i acco da ce with GAAP. Fu the , the o -GAAP fi a cial measu es that we p ese t may diffe f om simila o -GAAP fi a cial measu es used by othe compa ies.

Adjusted G oss P ofit a d Adjusted G oss Ma gi

We defi e Adjusted G oss P ofit as eve ues less di ect ope ati g costs att ibutable to I odata I c. a d its subsidia ies i acco da ce with GAAP, plus dep eciatio a d amo tizatio of i ta gible assets, stock-based compe satio a d othe o e-time costs i cluded withi di ect ope ati g cost.

We defi e Adjusted G oss Ma gi by dividi g Adjusted G oss P ofit ove total GAAP eve ues.

We use Adjusted G oss P ofit a d Adjusted G oss Ma gi to evaluate esults of ope atio s a d t e ds betwee fiscal pe iods a d believe that these measu es a e impo ta t compo e ts of ou i te al pe fo ma ce measu eme t p ocess.

A eco ciliatio of Adjusted G oss P ofit a d Adjusted G oss Ma gi to the most di ectly compa able GAAP measu e is i cluded i the tables that accompa y this elease.

Adjusted EBITDA

We defi e Adjusted EBITDA as et i come att ibutable to I odata I c. a d its subsidia ies i acco da ce with GAAP befo e i te est expe se, i come taxes, dep eciatio a d amo tizatio of i ta gible assets (which de ives EBITDA), plus additio al adjustme ts fo loss o impai me t of i ta gible assets a d goodwill, stock-based compe satio , i come att ibutable to o -co t olli g i te ests a d othe o e-time costs.

We use Adjusted EBITDA to evaluate co e esults of ope atio s a d t e ds betwee fiscal pe iods a d believe that this measu e is a impo ta t compo e t of ou i te al pe fo ma ce measu eme t p ocess.

A eco ciliatio of Adjusted EBITDA to the most di ectly compa able GAAP measu e is i cluded i the tables that accompa y this elease.

INNODATA INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(U audited)(I thousa ds, except pe -sha e amou ts)

INNODATA INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(U audited)(I thousa ds)

INNODATA INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(U audited)(I thousa ds)

INNODATA INC. AND SUBSIDIARIESRECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES(U audited)(I thousa ds)

Adjusted G oss P ofit a d Adjusted G oss Ma gi

Adjusted EBITDA

SOURCE: I odata I c.View the o igi al p ess elease o ACCESS Newswi e