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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 24, 2024
INNODATA
INC.
(Exact name of registrant as specified in its charter)
Delaware |
001-35774 |
13-3475943 |
(State or other jurisdiction of |
(Commission File Number) |
(I.R.S. Employer |
incorporation) |
|
Identification No.) |
|
|
|
55 Challenger Road |
|
|
Ridgefield Park, NJ |
|
07660 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant's telephone number, including area code (201) 371-8000
(Former
name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock |
INOD |
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 2.02 Results of Operations and Financial
Condition.
On February 27, 2024, Innodata
Inc. issued a press release elaborating on guidance it provided on November 2, 2023 in its third quarter conference call and on February
22, 2024 in its fourth quarter conference call. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit
99.1.
In accordance with General
Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under
the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
See Exhibit Index below.
Exhibit Index
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
|
INNODATA INC. |
|
|
|
|
|
|
Date: February 27, 2024 |
By: |
/s/ Amy Agress |
|
|
Amy Agress
SVP and General Counsel |
Exhibit 99.1
Innodata CEO Elaborates on Growth
Expectations in Interview with Tiernan Ray, Editor of The Technology Letter
NEW YORK – February 27, 2024 –
INNODATA INC. (NASDAQ: INOD) today reported that its CEO, Jack Abuhoff, was interviewed by Tiernan Ray, editor of The Technology Letter
on February 24.
In the interview, Abuhoff states that Innodata’s
internal goal is to have a $30 million quarter this year, and that while not guaranteed, it is absolutely within the range of possibility.
About The Technology
Letter and Tiernan Ray
The Technology Letter provides daily news
in the world of tech companies and stocks, lengthy interviews with tech CEOs and CFOs, podcasts, and updates to The Technology Letter
20 group of stocks to consider — and future great features. Editor Tiernan Ray has covered technology and business since 1994, the
year Amazon got started. He was the resident technology blogger and columnist at Barrons dot com and Barron’s magazine for over
a decade. He has been a reporter for SmartMoney and Bloomberg, and his work has been featured in Fortune, Forbes, ZDNet, Capital Market
Labs, and The New York Times. His writing on artificial intelligence can be seen weekly at ZDNet. A selection of recent CEO and CFO interviews
with the best tech companies can be seen at Capital Market Labs. Mr. Ray does not take positions in or receive compensation from the companies
he covers.
About Innodata
Innodata (NASDAQ: INOD) is a global
data engineering company delivering the promise of AI to many of the world’s most prestigious companies. We provide AI-enabled software
platforms and managed services for AI data collection/annotation, AI digital transformation, and industry-specific business processes.
Our low-code Innodata AI technology platform is at the core of our offerings. In every relationship, we honor our 30+ year legacy delivering
the highest quality data and outstanding service to our customers. Visit www.innodata.com to learn more.
Forward Looking Statements
This press
release may contain certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended,
and Section 27A of the Securities Act of 1933, as amended. These forward-looking statements include, without limitation, statements concerning
our operations, economic performance, and financial condition. Words such as “project,” “believe,” “expect,”
“can,” “continue,” “could,” “intend,” “may,” “should,” “will,”
“anticipate,” “indicate,” “predict,” “likely,” “estimate,” “plan,”
“potential,” “possible,” “promises,” or the negatives thereof, and other similar expressions generally
identify forward-looking statements.
These forward-looking
statements are based on management’s current expectations, assumptions and estimates and are subject to a number of risks and uncertainties,
including, without limitation, impacts resulting from the continuing conflict between Russia and the Ukraine and Hamas’ attack against
Israel and the ensuing conflict; investments in large language models; that contracts may be terminated by customers; projected or committed
volumes of work may not materialize; pipeline opportunities and customer discussions which may not materialize into work or expected volumes
of work; the likelihood of continued development of the markets, particularly new and emerging markets, that our services support; the
ability and willingness of our customers and prospective customers to execute business plans that give rise to requirements for our services;
continuing reliance on project-based work in the Digital Data Solutions (DDS) segment and the primarily at-will nature of such contracts
and the ability of these customers to reduce, delay or cancel projects; potential inability to replace projects that are completed, canceled
or reduced; continuing DDS segment revenue concentration in a limited number of customers; our dependency on content providers in our
Agility segment; the Company’s ability to achieve revenue and growth targets; difficulty in integrating and deriving synergies from
acquisitions, joint ventures and strategic investments; potential undiscovered liabilities of companies and businesses that we may acquire;
potential impairment of the carrying value of goodwill and other acquired intangible assets of companies and businesses that we acquire;
a continued downturn in or depressed market conditions; changes in external market factors; changes in our business or growth strategy;
the emergence of new, or growth in existing competitors; various other competitive and technological factors; our use of and reliance
on information technology systems, including potential security breaches, cyber-attacks, privacy breaches or data breaches that result
in the unauthorized disclosure of consumer, customer, employee or Company information, or service interruptions and other risks and uncertainties
indicated from time to time in our filings with the Securities and Exchange Commission.
Our actual results could differ materially from
the results referred to in forward-looking statements. Factors that could cause or contribute to such differences include, but are not
limited to, the risks discussed in Part I, Item 1A. “Risk Factors,” Part II, Item 7. “Management’s Discussion
and Analysis of Financial Condition and Results of Operations,” and other parts of our Annual Report on Form 10-K, filed with the
Securities and Exchange Commission on February 24, 2023, as updated or amended by our other filings that we may make with the Securities
and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking
statements will occur, and you should not place undue reliance on these forward-looking statements. These forward-looking statements speak
only as of the date hereof.
We undertake no obligation to update or review
any guidance or other forward-looking statements, whether as a result of new information, future developments or otherwise, except as
may be required by the Federal securities laws.
Company Contact
Marcia Novero
Innodata Inc.
Mnovero@innodata.com
(201) 371-8015
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Innodata (NASDAQ:INOD)
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Innodata (NASDAQ:INOD)
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