Filing Flows › Innodata (INOD) › Q4 2025
Innodata (INOD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Innodata (INOD) reported revenue of $72.4M for the fourth quarter 2025 (Q4 2025), +22% from a year earlier and +16% from the quarter before. Operating margin was 15.1%, net earnings $8.8M (12.2% of revenue).
Innodata, Q4 2025: revenue $72.4M (+22% year over year), operating margin 15.1%, net earnings $8.8M, operating cash flow $12.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $72.4M | +16% | +22% |
| Gross profit | $27.7M | +9% | +4% |
| Operating profit | $10.9M | -7% | -3% |
| Net earnings | $8.8M | +6% | -14% |
| Operating cash flow | $12.9M | -32% | -25% |
| Free cash flow | $10.1M | -31% | -33% |
What changed
Revenue was $72.4M in Q4 2025, up 22% year over year and up 16% from the previous quarter. DDS was the largest line at 89% of revenue.
Gross margin was 38.3%, down 6.9 points from a year earlier. Operating profit was $10.9M, a 15.1% margin (down 3.9 points year over year). Operating profit fell $323K even though revenue rose $13.2M versus a year earlier, so costs grew faster than sales. Operating expenses grew 8% against revenue growth of 22%. Net earnings were $8.8M, down 14% year over year. The effective tax rate was 22.2%.
Operating cash flow was $12.9M (down 25% year over year), 146% of net earnings. Non-cash charges added back $2.0M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items used $763K. Capital expenditures of $2.8M left free cash flow of $10.1M.
Questions
What was Innodata's revenue in the fourth quarter 2025?
Innodata (INOD) reported revenue of $72.4M for the fourth quarter 2025 (Q4 2025), +22% from a year earlier and +16% from the quarter before.
Was Innodata profitable in the fourth quarter 2025?
Operating profit was $10.9M (15.1% of revenue) and net earnings $8.8M.
Source: Innodata 10-K on SEC EDGAR.