Innodata - Public Comps and Valuation Multiples

Innodata Overview

About Innodata

Innodata Inc is a data engineering company. It is helping companies deploy and integrate AI into their operations and products and providing AI-enabled industry platforms. The Company’s operations are classified in three reporting segments: Digital Data Solutions (DDS), Synodex and Agility. Key revenue is generated from DDS segment provides AI data preparation services, collecting or creating training data, annotating training data, and training AI algorithms for its customers, and AI model deployment and integration. It also provides a range of data engineering support services including data transformation, data curation, data hygiene, data consolidation, data extraction, data compliance, and master data management.

Founded

1988

HQ

Employees

6.6K+

Website

innodata.com

Sectors

BI & Analytics Software
RetailTech
B2B SaaS
Horizontal SaaS

Financials

LTM Revenue $232M

LTM EBITDA $43.7M

EV

$2.5B

Valuation Multiples

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Innodata Financials

As of September 2025, Innodata reported last 12-month revenue of $232M and EBITDA of $43.7M.

In the same period, Innodata generated $91.8M in LTM gross profit and $27.5M in net income.

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Innodata P&L

In the most recent fiscal year, Innodata reported revenue of $170M and EBITDA of $30.1M.

Innodata expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$232M	XXX	$170M	XXX	XXX	XXX
Gross Profit	$91.8M	XXX	$67.1M	XXX	XXX	XXX
Gross Margin	40%	XXX	39%	XXX	XXX	XXX
EBITDA	$43.7M	XXX	$30.1M	XXX	XXX	XXX
EBITDA Margin	19%	XXX	18%	XXX	XXX	XXX
EBIT	$32.6M	XXX	$24.3M	XXX	XXX	XXX
EBIT Margin	14%	XXX	14%	XXX	XXX	XXX
Net Profit	$27.5M	XXX	$28.7M	XXX	XXX	XXX
Net Margin	12%	XXX	17%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Innodata including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $232M. EBITDA for the last twelve months was $43.7M. In the most recent fiscal year, Innodata achieved $170M in revenue and $30.1M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$232M	Analyst estimates available to subscribers	$170M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$91.8M	Analyst estimates available to subscribers	$67.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	39.6% gross margin	Analyst estimates available to subscribers	39.3% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$43.7M	Analyst estimates available to subscribers	$30.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	18.8% EBITDA margin	Analyst estimates available to subscribers	17.7% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$32.6M	Analyst estimates available to subscribers	$24.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	14.1% EBIT margin	Analyst estimates available to subscribers	14.3% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$27.5M	Analyst estimates available to subscribers	$28.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	11.9% net profit margin	Analyst estimates available to subscribers	16.8% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Innodata

This financial data table provides comprehensive performance metrics for Innodata, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Innodata generated $232M in revenue over the last twelve months.
The company achieved $43.7M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $91.8M.
Net income over the last twelve months reached $27.5M.

Fiscal Year Performance

In the most recent fiscal year, Innodata reported $170M in total revenue.
Fiscal year EBITDA was $30.1M.
The company maintained a gross profit margin of 39.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was 17.7%.
Net profit margin reached 16.8% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Innodata. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Innodata Stock Performance

Innodata has current market cap of $2.5B, and EV of $2.5B.

Market Cap Evolution

Innodata Stock Data

As of October 17, 2025, Innodata's stock price is $79.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$2.5B	$2.5B	XXX	XXX	XXX	XXX	$0.80

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Innodata Valuation Multiples

Innodata's trades at 14.5x EV/Revenue multiple, and 82.1x EV/EBITDA.

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Innodata Financial Valuation Multiples

As of October 17, 2025, Innodata has market cap of $2.5B and EV of $2.5B.

Equity research analysts estimate Innodata's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Innodata has a P/E ratio of 91.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$2.5B	XXX	$2.5B	XXX	XXX	XXX
EV (current)	$2.5B	XXX	$2.5B	XXX	XXX	XXX
EV/Revenue	10.7x	XXX	14.5x	XXX	XXX	XXX
EV/EBITDA	56.6x	XXX	82.1x	XXX	XXX	XXX
EV/EBIT	75.8x	XXX	101.7x	XXX	XXX	XXX
EV/Gross Profit	27.0x	XXX	n/a	XXX	XXX	XXX
P/E	91.9x	XXX	88.3x	XXX	XXX	XXX
EV/FCF	143.1x	XXX	90.7x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Innodata Margins & Growth Rates

Innodata's last 12 month revenue growth is 28%

Innodata's revenue per employee in the last FY averaged $26K, while opex per employee averaged $6K for the same period.

Innodata's rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Innodata's rule of X is 88% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Innodata Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	28%	XXX	34%	XXX	XXX	XXX
EBITDA Margin	19%	XXX	18%	XXX	XXX	XXX
EBITDA Growth	35%	XXX	202%	XXX	XXX	XXX
Rule of 40	33%	XXX	45%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	88%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$26K	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$6K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	25%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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