Innodata revenue up 54% to $90M on AI services; shifts to single segment, expands into evals

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~2 min read

Key Changes

• high

  Revenue grew 54% YoY to $90.1M in Q1 2026, driven by AI services expansion. Adjusted EBITDA nearly doubled to $25.0M and gross margin improved 400 bps to 44%, demonstrating strong operating leverage as the business scales.

  MD&A: Financial Performance verify on EDGAR →
• high

  Company consolidated from three segments (DDS, Synodex, Agility) to single-segment reporting, reflecting unified resource allocation and performance assessment by management. Change signals operational integration of previously separate business lines.

  MD&A: Segment Reporting verify on EDGAR →
• high

  Expanded service offering into AI model evaluation (evals), red teaming, and cybersecurity for AI agents. New capabilities address safety, adversarial testing, and enterprise security for autonomous AI systems—a distinct revenue stream beyond data preparation.

  MD&A: Business Description verify on EDGAR →