Stocks·NASDAQ:INOD
Innodata (INOD)
My take
Every video where I mention INOD
- Why This $45 Profitable AI Stock Has a $122 Price Target (INOD) Oct 30, 2026
InnoData, ticker symbol INOD, is a profitable AI stock that closed Tuesday…
The last 12 months
- Nov 5, 202610-QQuarterly report
- Nov 5, 20268-KReleased quarterly results
- Oct 30, 2026VideoMy video: Why This $45 Profitable AI Stock Has a $122 Price Target (INOD)
- Oct 27, 2026S-8Registered shares for employee stock plans
- Sep 30, 20268-K/AExecutive or board change
- Sep 15, 20268-KExecutive or board change
- Aug 6, 20268-KSigned a major agreement
- Aug 6, 2026424B5Prospectus for a sale off the shelf (new shares, an at-the-market program, or bonds)
- Aug 6, 2026S-3ASRAutomatic shelf registration: can sell stock or debt later
- Aug 6, 202610-QQuarterly report
- Aug 6, 20268-KReleased quarterly results; Executive or board change
- Jul 31, 2026SCHEDULE 13GAn investor reported a 5%+ stake
- Jun 17, 20268-KReleased quarterly results; Executive or board change
- Jun 8, 20268-KShareholder vote results
Show the numbers
| Revenue by year | |
|---|---|
| 2016 | $63.1M |
| 2017 | $60.9M |
| 2018 | $57.4M |
| 2019 | $55.9M |
| 2020 | $58.2M |
| 2021 | $69.8M |
| 2022 | $79M |
| 2023 | $86.8M |
| 2024 | $170M |
| 2025 | $252M |
Show the numbers
| Revenue by quarter | |
|---|---|
| Q4 23 | $26.1M |
| Q1 24 | $26.5M |
| Q2 24 | $32.6M |
| Q3 24 | $52.2M |
| Q4 24 | $59.2M |
| Q1 25 | $58.3M |
| Q2 25 | $58.4M |
| Q3 25 | $62.5M |
| Q4 25 | $72.4M |
| Q1 26 | $90.1M |
| Q2 26 | $92.1M |
| Q3 26 | $95.6M |
Show the numbers
| Operating income (loss) by year | |
|---|---|
| 2016 | -$4.72M |
| 2017 | -$5.10M |
| 2023 | $318K |
| 2024 | $24.3M |
| 2025 | $39.9M |
Show the numbers
| Free cash flow by year | |
|---|---|
| 2016 | -$5.47M |
| 2017 | -$2.77M |
| 2018 | $1.53M |
| 2019 | $2.61M |
| 2020 | $4.25M |
| 2021 | $783K |
| 2022 | -$7.74M |
| 2023 | $339K |
| 2024 | $27.1M |
| 2025 | $35.6M |
Cash and short-term investmentsDebt
Show the numbers
| Cash and short-term investments | Debt | |
|---|---|---|
| 2016 | $14.2M | $5.04M |
| 2017 | $11.4M | $7.81M |
| 2018 | $10.9M | $5.59M |
| 2019 | $10.9M | $5.97M |
| 2020 | $17.6M | $7.99M |
| 2021 | $18.9M | $7.50M |
| 2022 | $9.79M | $5.96M |
| 2023 | $13.8M | n/a |
| 2024 | $46.9M | n/a |
| 2025 | $82.2M | n/a |
From the 10-Q filed Nov 5, 2026. Source.
Stock-based pay to employeesSpent buying back shares
Show the numbers
| Stock-based pay to employees | Spent buying back shares | |
|---|---|---|
| 2020 | $913K | $0 |
| 2021 | $1.75M | $0 |
| 2022 | $3.28M | $0 |
| 2023 | $4.03M | $0 |
| 2024 | $4M | $0 |
| 2025 | $11.1M | $0 |
If buybacks are smaller than stock pay, the buyback isn't shrinking the share count; it's soaking up shares handed to employees.
Compare INOD with other stocks →
From the company's own SEC filings via SEC EDGAR, latest period ended Sep 30, 2026. Numbers can be restated later. Not investment advice.
Dilution
Show the numbers
| Shares outstanding | |
|---|---|
| Feb 2023 | 27.4M |
| May 2023 | 27.5M |
| Jul 2023 | 28.3M |
| Oct 2023 | 28.7M |
| Feb 2024 | 28.8M |
| May 2024 | 28.8M |
| Aug 2024 | 29M |
| Nov 2024 | 29M |
| Feb 2025 | 31.3M |
| Apr 2025 | 31.7M |
| Jul 2025 | 31.8M |
| Oct 2025 | 31.9M |
| Feb 2026 | 32.6M |
| Apr 2026 | 32.7M |
| Jul 2026 | 34.4M |
| Oct 2026 | 34.4M |
The share count is up +8% in a year, so each share is a slightly smaller slice of the company. What dilution means.
Insider trades
Bought or sold on the open market
| Date | Who | What | Shares | Value | Filing |
|---|---|---|---|---|---|
| Sep 14, 2026 | Louise C Forlenza Director | Sold on the market | 10K | $535K | Form 4 |
| Sep 4, 2026 | Louise C Forlenza Director | Sold on the market | 10K | $550K | Form 4 |
| Jun 16, 2026 | Jack Abuhoff CEO, Director | Sold on the market 7 trades that day | 200K | $22M | Form 4 |
| Jun 15, 2026 | Jack Abuhoff CEO, Director | Sold on the market 6 trades that day | 94.1K | $9.94M | Form 4 |
| Jun 2, 2026 | Ashok Mishra EVP and COO | Sold on the market 5 trades that day | 38.7K | $4.42M | Form 4 |
| May 29, 2026 | Marissa B Espineli Interim CFO | Sold on the market 3 trades that day | 19.7K | $2.08M | Form 4 |
| May 29, 2026 | Jack Abuhoff CEO, Director | Sold on the market 8 trades that day | 106K | $10.9M | Form 4 |
| May 22, 2026 | Jack Abuhoff CEO, Director | Sold on the market 2 trades that day | 38.1K | $3.82M | Form 4 |
| May 21, 2026 | Louise C Forlenza Director | Sold on the market 4 trades that day | 18K | $1.70M | Form 4 |
| May 21, 2026 | Jack Abuhoff CEO, Director | Sold on the market 4 trades that day | 150K | $14.3M | Form 4 |
| May 20, 2026 | Louise C Forlenza Director | Sold on the market 4 trades that day | 15K | $1.38M | Form 4 |
| May 20, 2026 | Jack Abuhoff CEO, Director | Sold on the market 3 trades that day | 150K | $14M | Form 4 |
| May 19, 2026 | Louise C Forlenza Director | Sold on the market | 5K | $431K | Form 4 |
| May 19, 2026 | Jack Abuhoff CEO, Director | Sold on the market | 2.8K | $260K | Form 4 |
| May 18, 2026 | Jack Abuhoff CEO, Director | Sold on the market 4 trades that day | 150K | $14.2M | Form 4 |
Everything else: grants, option exercises, tax withholding (41)
| Date | Who | What | Shares | Value | Filing |
|---|---|---|---|---|---|
| Oct 8, 2026 | Michael S Rogers Director | Grant or award | 2.2K | n/a | Form 4 |
| Sep 14, 2026 | Louise C Forlenza Director | Exercised options | 10K | $14.2K | Form 4 |
| Sep 4, 2026 | Louise C Forlenza Director | Exercised options 2 trades that day | 10K | $13.8K | Form 4 |
| Jul 6, 2026 | Jayant Chauhan EVP and CFO | Grant or award | 8.9K | n/a | Form 4 |
| Jun 16, 2026 | Jack Abuhoff CEO, Director | Exercised options 2 trades that day | 200K | $391K | Form 4 |
| Jun 15, 2026 | Jack Abuhoff CEO, Director | Exercised options | 94.1K | $321K | Form 4 |
| Jun 4, 2026 | Don Callahan Director | Grant or award | 1.5K | n/a | Form 4 |
| Jun 4, 2026 | Richard D Clarke Director | Grant or award | 1.5K | n/a | Form 4 |
| Jun 4, 2026 | Stewart R Massey Director | Grant or award | 1.5K | n/a | Form 4 |
| Jun 4, 2026 | Louise C Forlenza Director | Grant or award | 1.5K | n/a | Form 4 |
| Jun 2, 2026 | Ashok Mishra EVP and COO | Exercised options | 26.7K | $1.15M | Form 4 |
| May 29, 2026 | Marissa B Espineli Interim CFO | Exercised options 2 trades that day | 19.7K | $384K | Form 4 |
| May 29, 2026 | Jack Abuhoff CEO, Director | Exercised options | 106K | $527K | Form 4 |
| May 22, 2026 | Jack Abuhoff CEO, Director | Exercised options | 38.1K | $190K | Form 4 |
| May 21, 2026 | Louise C Forlenza Director | Exercised options | 18K | $22.3K | Form 4 |
| May 21, 2026 | Jack Abuhoff CEO, Director | Exercised options | 150K | $749K | Form 4 |
| May 20, 2026 | Louise C Forlenza Director | Exercised options | 15K | $18.6K | Form 4 |
| May 20, 2026 | Jack Abuhoff CEO, Director | Exercised options | 150K | $749K | Form 4 |
| May 19, 2026 | Louise C Forlenza Director | Exercised options | 5K | $6.20K | Form 4 |
| May 19, 2026 | Jack Abuhoff CEO, Director | Exercised options | 2.8K | $14K | Form 4 |
| May 18, 2026 | Jack Abuhoff CEO, Director | Exercised options | 150K | $749K | Form 4 |
| May 15, 2026 | Jack Abuhoff CEO, Director | Exercised options | 100K | $499K | Form 4 |
| May 14, 2026 | Jack Abuhoff CEO, Director | Exercised options | 77K | $384K | Form 4 |
| May 13, 2026 | Jack Abuhoff CEO, Director | Exercised options 2 trades that day | 94.5K | $550K | Form 4 |
| May 13, 2026 | Stewart R Massey Director | Exercised options | 10K | $72.4K | Form 4 |
| May 12, 2026 | Jack Abuhoff CEO, Director | Exercised options 2 trades that day | 71.7K | $1.47M | Form 4 |
| May 12, 2026 | Ashok Mishra EVP and COO | Exercised options | 243K | $1.21M | Form 4 |
| May 12, 2026 | Louise C Forlenza Director | Exercised options 2 trades that day | 30K | $33.8K | Form 4 |
| Dec 31, 2025 | Rahul Singhal President & CRO | Grant or award | 43.2K | n/a | Form 4 |
| Dec 31, 2025 | Ashok Mishra EVP and COO | Grant or award | 43.2K | n/a | Form 4 |
| Dec 31, 2025 | Marissa B Espineli Interim CFO | Grant or award | 13.1K | n/a | Form 4 |
| Dec 31, 2025 | Jack Abuhoff CEO, Director | Grant or award | 100K | n/a | Form 4 |
| Dec 20, 2025 | Rahul Singhal President & CRO | Shares withheld for taxes | 10.2K | $541K | Form 4 |
| Dec 20, 2025 | Marissa B Espineli Interim CFO | Shares withheld for taxes | 3.1K | $162K | Form 4 |
| Dec 20, 2025 | Ashok Mishra EVP and COO | Shares withheld for taxes | 8K | $424K | Form 4 |
| Dec 20, 2025 | Jack Abuhoff CEO, Director | Shares withheld for taxes | 8K | $424K | Form 4 |
| Dec 4, 2025 | Ashok Mishra EVP and COO | Exercised options | 23.7K | $118K | Form 4 |
| Nov 12, 2025 | Ashok Mishra EVP and COO | Exercised options 3 trades that day | 200K | $1.02M | Form 4 |
| Nov 11, 2025 | Richard D Clarke Director | Grant or award | 1.7K | n/a | Form 4 |
| Nov 11, 2025 | Don Callahan Director | Grant or award | 1.7K | n/a | Form 4 |
An insider buying with their own money is a stronger signal than a sale: people sell for taxes, houses and diversification. "Planned" sales were scheduled months ahead under a 10b5-1 plan. Source: SEC Form 4.
Famous investors who own it
None of the 18 famous investors I track owned INOD at their last 13F. Who I track.
Failed trades
Show the numbers
| Failed trades (fails to deliver) | |
|---|---|
| May 8 | 2.1K |
| May 11 | 43.9K |
| May 12 | 1 |
| May 13 | 338K |
| May 18 | 7.2K |
| May 21 | 2.1K |
| May 26 | 4.6K |
| May 27 | 2.8K |
| May 29 | 3.3K |
| Jun 1 | 4.9K |
| Jun 5 | 1.9K |
| Jun 9 | 1.2K |
| Jun 10 | 2.5K |
| Jun 17 | 17.8K |
| Jun 22 | 183 |
| Jun 24 | 140 |
| Jun 25 | 124 |
| Jun 26 | 347 |
| Jul 1 | 89 |
| Jul 10 | 100 |
| Jul 16 | 114 |
| Jul 17 | 311 |
| Jul 20 | 6 |
| Aug 6 | 1.6K |
| Aug 10 | 3K |
| Aug 14 | 323 |
| Aug 18 | 6.3K |
| Aug 24 | 904 |
| Aug 26 | 240 |
| Aug 31 | 5.4K |
| Sep 14 | 1.2K |
| Sep 16 | 98 |
| Sep 18 | 267 |
| Sep 21 | 415 |
| Sep 24 | 2.1K |
| Sep 25 | 505 |
| Sep 28 | 802 |
| Oct 2 | 597 |
| Oct 5 | 200 |
| Oct 9 | 174 |
From the SEC's fails-to-deliver data, which runs two to four weeks behind. A spike can mean heavy short selling or just back-office delays; it isn't proof of anything on its own. Short interest isn't shown: FINRA's terms don't allow republishing it.
Share offerings
Selling new shares dilutes current owners. A "shelf" is permission to sell later; a 424B5 usually means a sale is actually happening.
- Oct 27, 2026S-8Registered shares for employee stock plans
- Aug 6, 2026424B5Prospectus for a sale off the shelf (new shares, an at-the-market program, or bonds)
- Aug 6, 2026S-3ASRAutomatic shelf registration: can sell stock or debt later
What they told the SEC, in plain English
Every 8-K (the report a company files when something big happens) in the last two years. Red ones are worth a closer look: auditor changes, restatements, late reports, listing problems.
- Nov 5, 20268-KReleased quarterly results
- Sep 30, 20268-K/AExecutive or board change
- Sep 15, 20268-KExecutive or board change
- Aug 6, 20268-KSigned a major agreement
- Aug 6, 20268-KReleased quarterly results; Executive or board change
- Jul 31, 2026SCHEDULE 13GAn investor reported a 5%+ stake
- Jun 17, 20268-KReleased quarterly results; Executive or board change
- Jun 8, 20268-KShareholder vote results
- Jun 1, 2026SCHEDULE 13GAn investor reported a 5%+ stake
- May 7, 20268-KReleased quarterly results
- Mar 24, 20268-KSigned a major agreement; Took on new debt
- Mar 10, 20268-KExecutive or board change
- Feb 26, 20268-KReleased quarterly results
- Nov 7, 20258-KExecutive or board change
- Nov 6, 20258-KReleased quarterly results
- Jul 31, 20258-KReleased quarterly results
- Jun 18, 20258-KOther news
- Jun 6, 20258-KShareholder vote results
- May 8, 20258-KReleased quarterly results
- Feb 20, 20258-KReleased quarterly results
What changed in the latest annual report
Comparing the risk factors in the 10-K filed Feb 26, 2026 with the one filed Feb 24, 2025: 2 new and 2 removed, out of 43.
New this year
- In the event that the governments of the United States, the Philippines, India, Sri Lanka, the United Kingdom, Canada, Germany, or other jurisdictions in which we operate change their tax laws, policies, regulations, or interpretations thereof, our tax expense may increase and adversely affect our…
- We have not paid any cash dividends in the past, and have no plans to pay cash dividends in the foreseeable future.
Dropped from last year (2)
- In the event that the governments of India or the Philippines or the government of another country changes its tax policies, rules and regulations, our tax expense may increase and affect our effective tax rates.
- It is unlikely that we will pay dividends.
Matched by each risk's headline, so a reworded risk can show up as new. This year's report · last year's.
Government contracts
$500 in federal contract money over the last 12 months, across 1 awards and changes.
| Date | Agency | What for | Amount |
|---|---|---|---|
| Jan 16, 2026 | Missile Defense Agency | SCALABLE HOMELAND INNOVATIVE ENTERPRISE LAYERED DEFENSE (SHIELD) INITIAL ORDER. | $500 |
From USAspending.gov. Amounts are money the government committed, which can be cut later.
Search inside Innodata's filings
Opens the SEC's own full-text search in a new tab, limited to INOD. Every INOD filing on EDGAR.