Innodata Inc. (NASDAQ:INOD) Q1 2024 Earnings Call Transcript

Jack Abuhoff: Thank you. So, yes, we’re off to an exciting start for 2024, and my team and I are tremendously energized by what we believe we will accomplish in 2024. We grew revenue by 41% year-over-year. In Q1, we anticipate a substantial sequential revenue increase next quarter, and for 2024 overall, we have raised our guidance from 20% to at least 40% year-over-year expected organic only revenue growth. Today, we announced yet another substantial customer win, this one worth approximately $23.5 million of annualized revenue. This is on top of the win with the same customer we announced a couple of weeks ago, valued at approximately $20 million of annualized revenue. We also announced the signing of two additional Big Tech customers, both of which we believe will contribute to 2024 revenue growth longer term.

In addition to expected or continued expected growth from our Big Tech customer base, we expect increased market demand from enterprise customers that we hope will continue to accelerate our growth trajectory. We’re super excited about the work that’s underway. We are laser focused on creating long term shareholder value, and thank you all for attending today’s call. We’ll be looking forward to our next call.

Operator: Thank you. This does conclude today’s conference. You may disconnect your lines at this time. Thank you for your participation.