Ashok Mishra, Executive Vice President and Chief Operating Officer of Innodata Inc. (NASDAQ:INOD), recently executed a series of stock transactions involving the company's common stock. The transactions come amid an impressive year for the company, which has seen its stock surge over 445% in the past 12 months according to InvestingPro data. On December 5, 2024, Mishra sold 10,122 shares at an average price of $47.09 and an additional 1,828 shares at $47.64, bringing his holdings to zero for that day. The following day, December 6, he sold 45,050 shares at $45.37, again reducing his holdings to zero. On December 9, Mishra sold 7,116 shares at $53.06, 19,790 shares at $53.74, and 16,094 shares at $54.88, resulting in total sales valued at approximately $4.93 million over the period, with prices ranging from $45.37 to $54.88. These transactions were reportedly part of his personal investment and financial planning strategies. Based on InvestingPro analysis, Innodata currently appears overvalued compared to its Fair Value, though the company maintains strong fundamentals with a healthy balance sheet and expected sales growth this year. Investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, which provides detailed analysis of Innodata's financials, valuation, and growth prospects.
In other recent news, Innodata reported a record revenue of $52 million in Q3, marking a 136% increase from the previous year. The company's adjusted EBITDA reached $27% of the revenue, standing at $13.9 million. A significant boost to the revenue came from a $30.6 million contribution from a single Big Tech customer. Innodata also raised its full-year 2024 revenue guidance to $52-$55 million, indicating an 88%-92% growth.
The company's cash reserves have grown by $10 million from the previous quarter, now standing at $26.4 million. Additionally, Innodata has received SEC approval for a $50 million securities offering, though there are no immediate fundraising plans. Looking ahead, the company anticipates strong business momentum to continue into Q4 and 2025, with plans to expand relationships with seven significant clients and increase federal government engagements.
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