Innodata posts over 50% revenue growth for two quarters but warns of cautious outlook for H2 2024.

Innodata has achieved more than 50% year-over-year revenue growth for two consecutive quarters, with gross margins improving to 46%. While the company has reduced customer concentration risk, two clients still represent 71% of its revenues, indicating a need for further diversification. Revenue growth is slowing sequentially, and management has issued a cautious forecast for the second half of 2024. However, potential pipeline opportunities could provide upside. Following a stock price drop of over 45%, Innodata's valuation appears more reasonable, suggesting a small, opportunistic investment amid ongoing volatility.

Innodata's stock price of USD 66.25 as of Oct 01, 2026, 21:02 WIB, sits closer to its 52-week low of USD 34.45 than its high of USD 121.50, reflecting the significant pullback noted in the news. On Pluang, the stock shows a modest 1-day gain of 0.75%, with all recent order activity being buys. This contrasts with the company's market cap of $2.26 billion, indicating a mid-sized tech firm navigating volatility.