INOD at a glance
INNODATA INC (INOD, SEC CIK 903651) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on September 30, 2026 and Form 4 insider filings as recently as September 15, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), INNODATA INC (INOD) reported revenue of $251.7 million (up 47.6% from FY2024) and net income of $32.2 million. Diluted EPS was $0.92.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding INNODATA INC (INOD) shares worth $744.2 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by FORLENZA LOUISE C on September 14, 2026 of 10,000 shares at $53.54 per share.
- In the last 90 days, INOD insiders reported 0 open-market purchases ($0) and 2 open-market sales ($1.1M) on Form 4, a net sale of $1.1M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $251.7M
- +47.6% vs prior year
- Insiders · 90 days
- 0 buys · 2 sells
- Net −$1.1M
- 13F holders
- 31 funds
- $744.2M · +2 vs prior quarter
- Latest 8-K
- Sep 30, 2026
- Item 5.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: global data engineering and AI system services supporting full AI lifecycle from training data to deployment
- New Federal Practice launched 2025 for U.S. government AI programs with high security, compliance, and evaluation demands
- Strategic emphasis on agentic and behavioral model evaluations beyond output correctness, enhancing trust and safety frameworks
- Workforce of 12,200 professionals across 70+ countries enabling multilingual, follow-the-sun delivery and operational resilience
- 2025 revenue concentration: one DDS segment customer accounted for 58% of total revenues, up from 48% in 2024
Risk Factors
- Regulatory risk: evolving AI regulations and data privacy laws impacting international operations, including India, Philippines, Sri Lanka, US and Europe
- Geopolitical risk: political unrest, terrorism and natural calamities in India, Israel, Philippines, Sri Lanka threatening operational continuity
- Operational risk: 63% of accounts receivable ($29.2M) concentrated with one customer, posing significant credit risk if unpaid
- Competitive risk: risk from new vendors with lean cost and flexible cost models challenging Innodata’s services and platforms
- Financial risk: Revolving Credit Facility requires fixed charge coverage ratio ≥1.10, restrictive covenants may limit business flexibility
Management Discussion & Analysis
- Revenue $251.7M in 2025, up 48% YoY from $170.5M; DDS up 57% to $220.9M, Synodex down 8% to $7.3M, Agility up 9% to $23.5M
- Operating margin 15.8% in 2025 vs 14.3% in 2024; consolidated gross margin 40% vs 39%; DDS margin 39% vs 37%; Synodex margin down to 18% from 27%
- Best segment DDS: revenue $220.9M (+$79.8M), gross profit $85.4M (+$32.6M); worst segment Synodex: revenue $7.3M (-$0.6M), gross profit $1.3M (-$0.8M)
- Net income $32.2M in 2025 vs $28.7M in 2024; selling/admin expenses $59.6M (+40%); adjusted EBITDA $57.9M vs $34.6M; no goodwill impairment recorded
- Income tax provision $9.2M in 2025, effective tax rate 22.3% vs benefit of $4.2M and -17.1% in 2024; outlook includes investments in AI, R&D, and sales to drive growth
AI summary of the INOD 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Quarterly revenue $92.1M, up 58% YoY from $58.4M, driven by AI data engineering volumes
- Gross margin 46% vs 39% YoY; adjusted gross margin 49% vs 43%
- Single reporting segment; AI data engineering services highest-performing disclosed business line
- Cash $240.3M vs $82.2M at December 31; operating cash flow $164.4M
- Capital deployment: $15.4M investing outflow, including $10.1M short-term investments and $5.3M capital expenditures
- Near-term liquidity: $13.1M anticipated capital expenditures over next 12 months; liquidity sufficient for at least 12 months
Risk Factors
- No risk-factors section provided in the supplied filing text
- Employment agreement with Jayant Chauhan effective July 6, 2026
- No unregistered equity sales or repurchases during the quarter ended June 30, 2026
- No defaults upon senior securities reported
- No Rule 10b5-1 trading-plan adoptions or terminations reported
AI summary of the INOD 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 5.02: Departure/Appointment of Directors or Principal Officers
- CEO succession effective September 30, 2026: Rahul Singhal becomes President and CEO; Jack Abuhoff becomes Executive Chairman
- Singhal reports solely to the Board, with $636,276 base salary and 100% target annual cash bonus
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Admiral Michael S. Rogers elected independent director, effective September 10, 2026
- Annual cash compensation of $75,000, plus prorated equity award under Innodata’s compensation plan
Item EX-99.1: Item EX-99.1
- Admiral Michael S. Rogers appointed to Innodata’s Board effective immediately
- Former NSA Director and U.S. Cyber Command commander adds high-level federal cybersecurity credibility
Item 5.02: Departure/Appointment of Directors or Principal Officers
- CEO transition effective September 30, 2026, with Jack S. Abuhoff becoming Executive Chairman
- Rahul Singhal, current President and Chief Revenue Officer, appointed CEO, Principal Executive Officer, and board member
Item 2.02: Results of Operations and Financial Condition
- Innodata announced second-quarter 2026 financial results on August 6, 2026
- Detailed results and management commentary are in furnished Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q2 revenue $92.1M, up 58% YoY; 12th consecutive quarter of year-over-year growth
- Adjusted EBITDA $25.4M, up 92% YoY, with 27.5% margin; operating leverage strengthening
AI summaries of INOD 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for INOD
Don't miss the next INOD filing
- Alerts as it files. A push when INOD files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut INOD, by share count.
- Ask anything. An AI agent that reads every INOD filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| FORLENZA LOUISE C | Sell | Sep 14, 2026 | 10,000 | $53.54 |
| FORLENZA LOUISE C | M | Sep 14, 2026 | 10,000 | $1.42 |
| FORLENZA LOUISE C | M | Sep 14, 2026 | 10,000 | - |
| FORLENZA LOUISE C | M | Sep 4, 2026 | 8,000 | - |
| FORLENZA LOUISE C | Sell | Sep 4, 2026 | 10,000 | $55.01 |
| FORLENZA LOUISE C | M | Sep 4, 2026 | 8,000 | $1.42 |
| FORLENZA LOUISE C | M | Sep 4, 2026 | 2,000 | - |
| FORLENZA LOUISE C | M | Sep 4, 2026 | 2,000 | $1.24 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $170.5M | $251.7M |
| Gross Profit | - | $67.1M | $99.5M |
| Operating Income | - | $24.3M | $39.9M |
| Net Income | -$908K | $28.7M | $32.2M |
| Gross Margin | - | 39.3% | 39.5% |
| Op. Margin | - | 14.3% | 15.8% |
| Net Margin | - | 16.8% | 12.8% |
| Balance Sheet | |||
| Total Assets | - | $113.4M | $168.6M |
| Equity | - | $63.5M | $107.1M |
| ROE | - | 45.2% | 30.0% |
| Per Share | |||
| EPS | - | $0.89 | $0.92 |
| Cash Flow | |||
| Operating CF | $5.9M | $35.0M | $46.8M |
| CapEx | - | $7.7M | $11.1M |
Source: XBRL data in INNODATA INC (INOD)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate INOD share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $744.2M |
| Q1 2026 | 29 | $295.9M |
| Q4 2025 | 27 | $448.6M |
| Q3 2025 | 28 | $787.5M |
| Q2 2025 | 27 | $476.6M |
| Q1 2025 | 24 | $286.4M |
| Q4 2024 | 19 | $217.5M |
| Q3 2024 | 14 | $33.9M |
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Source: 13F-HR filings on SEC EDGAR (aggregated from 199 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
INOD filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Sep 30, 2026 | - | Analysis | - |
| 8-K | Sep 15, 2026 | - | Analysis | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 4, 2026 | - | - | - |
| 8-K | Aug 6, 2026 | - | Analysis | - |
| 8-K | Aug 6, 2026 | - | Analysis | - |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 | Analysis | |
| SC 13G | Jul 31, 2026 | - | - | |
| 4 | Jul 7, 2026 | - | - | - |
| 8-K | Jun 17, 2026 | - | Analysis | - |
| 4 | Jun 16, 2026 | - | - | - |
| 4 | Jun 8, 2026 | - | - | |
| 4 | Jun 8, 2026 | - | - | |
| 4 | Jun 8, 2026 | - | - | |
| 8-K | Jun 8, 2026 | - | Analysis | |
| 4 | Jun 8, 2026 | - | - | |
| SC 13G | Jun 1, 2026 | - | - | |
| 4 | Jun 1, 2026 | - | - | |
| 4 | Jun 1, 2026 | - | - | |
| 4 | May 21, 2026 | - | - | |
| 4 | May 21, 2026 | - | - | |
| 4 | May 20, 2026 | - | - | |
| 4 | May 20, 2026 | - | - | |
| 4 | May 14, 2026 | - | - | |
| 4 | May 13, 2026 | - | - |
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INOD SEC filings: frequently asked questions
Are INOD insiders buying or selling?
In the last 90 days, INNODATA INC (INOD) officers, directors and 10% owners reported no open-market purchases and 2 open-market sales worth $1.1 million by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold INOD stock?
As of June 30, 2026, the largest INNODATA INC (INOD) holders among the 13F filers tracked by SignalX were BlackRock ($205.4 million), Vanguard Capital Management LLC ($105.1 million), D.E. Shaw & Co ($66.4 million), State Street Corp ($61.3 million), Dimensional Fund Advisors ($45.0 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was INOD's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), INNODATA INC (INOD) reported revenue of $251.7 million (up 47.6% from FY2024) and net income of $32.2 million. Diluted EPS was $0.92. The figures come from the XBRL data in the 10-K.
What are the main risks in INOD's latest 10-K?
In the 10-K filed February 26, 2026, INNODATA INC (INOD) flagged: Regulatory risk: evolving AI regulations and data privacy laws impacting international operations, including India, Philippines, Sri Lanka, US and Europe. Geopolitical risk: political unrest, terrorism and natural calamities in India, Israel, Philippines, Sri Lanka threatening operational continuity. (AI summary of the Risk Factors section.)
What did INOD report in its latest 8-K?
INNODATA INC (INOD) filed an 8-K on September 30, 2026 reporting Item 5.02 (Departure/Appointment of Directors or Principal Officers). CEO succession effective September 30, 2026: Rahul Singhal becomes President and CEO; Jack Abuhoff becomes Executive Chairman.
What are the latest INOD SEC filings?
INNODATA INC (INOD) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on September 30, 2026 and a Form 4 insider filing on September 15, 2026.
What is INOD's SEC CIK number?
INNODATA INC (INOD)'s SEC Central Index Key (CIK) is 903651. EDGAR lists every INOD filing under that number.
Ask anything about INOD
The research agent reads INOD's filings, financials, insider trades and 13F holders, then answers with sources.