Reve ue Up 58% Yea -Ove -Yea , Beats Co se sus by 7% Adjusted EBITDA of $25.4 Millio , Beats Co se sus by 50% Adjusted G oss Ma gi Expa ds to 49% A ou ces Pla ed Leade ship T a sitio Effective Septembe 30: Rahul Si ghal to Become P eside t a d CEO, Jack Abuhoff to Become Executive Chai ma
Reve ue of $92.1 millio , ep ese ti g 58% yea -ove -yea eve ue g owth.Adjusted G oss P ofit of $45.4 millio , ep ese ti g Adjusted G oss Ma gi of 49%.*Adjusted EBITDA of $25.4 millio , o 27.5% of eve ue, a i c ease of $12.1 millio f om $13.2 millio i the same pe iod last yea .*Net i come of $14.4 millio , o $0.43 pe basic sha e a d $0.41 pe diluted sha e fo the th ee-mo th pe iod e ded Ju e 30, 2026, compa ed to et i come of $7.2 millio , o $0.23 pe basic sha e a d $0.20 pe diluted sha e, i the same pe iod last yea .Cash, cash equivale ts a d sho t-te m i vestme ts of $250.4 millio as of Ju e 30, 2026, a i c ease of $168.2 millio f om $82.2 millio as of Decembe 31, 2025. Cash as of Ju e 30, 2026 i cludes custome p epayme ts elated to pass-th ough costs; et of these p epayme ts, cash was app oximately $134 millio as of Ju e 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.
Jack Abuhoff, CEO, said, “Q2 was a othe eco d qua te fo I odata – a d a othe ac oss-the-boa d beat. Reve ue, Adjusted G oss P ofit, Adjusted EBITDA, a d cash all eached ew highs, a d we exceeded a alyst co se sus o eve y key met ic. Reve ue of $92.1 millio g ew 58% yea -ove -yea while Adjusted EBITDA g ew 92% – ope ati g leve age by defi itio . This was ou 12th co secutive qua te of yea -ove -yea g owth, a d, as i Q1, ou qua te ly eve ue exceeded ou a ual eve ue of just th ee yea s ago. Adjusted G oss Ma gi of 49% ow sta ds i e poi ts above ou publicly stated 40% ta get, d ive by mix: off-the-shelf datasets, whe e we etai i tellectual p ope ty a d mo etize the same asset ac oss multiple custome s, as well as high-value p e-t ai i g p og ams. O ce agai , we delive ed g owth, ma gi expa sio , a d cash ge e atio togethe – while i vesti g i i ovatio that co ve ts to eve ue withi qua te s, ot yea s. That is the busi ess model wo ki g as desig ed.
“The dive sificatio we pla ed fo has ow bee delive ed. I Q2, ou la gest custome ep ese ted 37% of eve ue, dow f om 56% i Q1, while the Big Tech custome we a ou ced last qua te scaled f om 17% of eve ue to 34%. While ou la gest custome co t ibuted less eve ue i Q2 tha i Q1, we co ti ue to fo ecast it to g ow yea -ove -yea fo the full yea . We also la ded a impo ta t ew custome i the qua te , o e of the fastest-scali g f o tie labs. Ou base co ti ues to b oade , i both custome s a d custome p og ams.
“We a e eite ati g ou full-yea 2026 eve ue g owth guida ce of 40% o mo e yea -ove -yea . The e a e la ge pote tial p og ams f om both ew a d a ticipated custome s – likely wi s, i ou judgme t – that a e ot facto ed i to ou 40% umbe . O ce thei scope a d timi g a e fi alized, we will i clude them a d update guida ce acco di gly.
“Ou g owth is i c easi gly esea ch d ive . Th ough ou esea ch effo ts, we have established a ea ly positio i age tic ei fo ceme t lea i g, o e of the most impo ta t f o tie s i AI developme t, wi i g a sig ifica t ew p og am with ou la gest custome cove i g pe so alizatio of lo g-ho izo age ts – ow scali g – a d a seco d p og am cove i g ei fo ceme t-lea i g e vi o me ts fo compute -use age tic tasks. We eleased two public be chma ks desig ed to su face the failu e modes that sta da d leade boa ds miss as well as the fi st stage of ou AI Cybe T ai i g Suite – twelve datasets a d evaluatio systems that t ai AI codi g age ts to w ite secu e code a d epai vul e abilities. We also a successful egoce t ic data-collectio pilots with leadi g obotics compa ies a d shifted ou data-collectio p actice f om i dividual pilots to scopi g e te p ise-scale, multi-modal p og ams.”
I odata also a ou ced today a pla ed leade ship t a sitio . Effective Septembe 30, 2026, Rahul Si ghal will become P eside t a d Chief Executive Office of I odata a d will joi the Compa y’s Boa d of Di ecto s, a d Jack Abuhoff, the Compa y’s fou de a d CEO, will t a sitio i to the ole of Executive Chai ma .
“This is a pla ed t a sitio , made f om a positio of st e gth,” said Abuhoff. “Rahul has bee a p i cipal a chitect of I odata’s t a sfo matio i to a st ategic pa t e to the wo ld’s leadi g AI builde s. He k ows ou custome s, he k ows ou tech ology, a d he k ows ou people – a d he has bee ce t al to eve y eleme t of the st ategy behi d the esults you have see qua te afte qua te . The Boa d a d I did ‘t have to look fa fo the ight leade . Rahul ea ed this ole – taki g o expa di g espo sibility yea afte yea a d delive i g eve y time. As Executive Chai ma , I will emai deeply e gaged, focused o pa t e i g with Rahul to build capabilities e abled by ou esea ch team. B i gi g these capabilities to the fede al gove me t a d to the e te p ise, I believe, is whe e I ca best co t ibute to c eati g sig ifica t sha eholde value, a d as o e of the compa y’s la gest sha eholde s, that is exactly what I wa t to be doi g. Ou wo k with the Mag 7 a d the leadi g AI labs is o a fi m path to g eate heights a d g eate dive sificatio . Ou E te p ise AI a d Fede al st ategies – built o the diffe e tiated tech ology we develop fo the f o tie labs – ep ese t oppo tu ities fo pote tially d ivi g high quality ecu i g eve ue that esults i sig ifica t value c eatio .”
Rahul Si ghal, i comi g P eside t a d Chief Executive Office , said, “I am t uly ho o ed by the co fide ce Jack a d the Boa d have placed i me, a d I i te d to epay it with esults. I odata has ext ao di a y mome tum, a ext ao di a y team, a d a ext ao di a y oppo tu ity i f o t of it. I i te d to build o all th ee. Resea ch a d i ovatio have become ou g owth e gi e – the mea s by which we diffe e tiate, expa d existi g pa t e ships, a d fo ge ew custome elatio ships ac oss the full model t ai i g lifecycle, f om p e-t ai i g a d post-t ai i g to model evaluatio a d be chma ki g.”
The Compa y also ece tly a ou ced that Jaya t Chauha has joi ed I odata as Chief Fi a cial Office , with Ma iz Espi eli steppi g i to the ole of Chief Accou ti g Office . Beyo d the t aditio al CFO ma date, Jaya t will wo k st ategically o capital allocatio a d capital ma kets, custome pa t e ships, M&A, a d i vesto commu icatio s.
Abuhoff co cluded, “We a e co fide t that 2026 will be a t eme dous yea fo I odata a d its sha eholde s, a d we a e excited about the oppo tu ities that lie ahead i 2027 a d beyo d.”
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.
I odata will co duct a ea i gs co fe e ce call, i cludi g a questio -a d-a swe pe iod, at 5:00 PM easte time today. You ca pa ticipate i this call by diali g the followi g call-i umbe s:
The call-i umbe s fo the co fe e ce call a e:
(+1) 800 715 9871 | No th Ame ica, Toll F ee | (+44) 800 358 0970 | U ited Ki gdom | (+1) 646 307 1963 | I te atio al | Pa ticipa t Access Code | 3150581 |
(+1) 800 770 2030 | No th Ame ica, Toll F ee | (+44) 203 433 3849 | U ited Ki gdom | (+1) 609 800 9909 | I te atio al | Replay ID | 3150581# |
It is ecomme ded that pa ticipa ts dial i app oximately 10 mi utes p io to the sta t of the call. I vesto s a e also i vited to access a live Webcast of the co fe e ce call at the I vesto Relatio s sectio of I odata’s website at https://i vesto .i odata.com/eve ts-a d-p ese tatio s/. Please ote that the Webcast featu e will be i liste -o ly mode.
Call-i eplay will be available fo seve days followi g the co fe e ce call, a d Webcast eplay will be available fo 30 days followi g the co fe e ce call, at the I vesto Relatio s sectio of I odata’s website at https://i vesto .i odata.com/eve ts-a d-p ese tatio s/.
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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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.
A eesh Pe dha ka
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.
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.
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 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 EBITDA to the most di ectly compa able GAAP measu e is i cluded i the tables that accompa y this elease.
33,468 | 31,785 | 33,044 | 31,609 | 34,771 | 35,301 | 34,268 | 35,120 |
(1,175) |
2,242 | 4,361 | 681 | 1,345 |
$ | 14,412 | $ | 7,219 | $ | 29,310 | $ | 15,006 | P ovisio fo i come taxes | 3,143 | 2,269 | 5,587 | 2,881 | (1,695 | ) | (577 | ) | (2,137 | ) | (704 | ) | 2,299 | 1,602 | 4,475 | 3,164 | 7,196 | 2,721 | 13,104 | 5,602 | $ | 25,355 | $ | 13,234 | $ | 50,339 | $ | 25,949 |
