This sale was executed for portfolio diversification purposes, with trading prices ranging from $45.00 to $45.82. Following the transaction, Toor holds 319,401 shares, which include 12,417 restricted stock units subject to future vesting and deferred payment conditions. The company maintains strong financial health with an "Overall Great" rating from InvestingPro, supported by a solid current ratio of 1.84 and more cash than debt on its balance sheet. The company maintains strong financial health with an "Overall Great" rating from InvestingPro, supported by a solid current ratio of 1.84 and more cash than debt on its balance sheet. This sale was executed for portfolio diversification purposes, with trading prices ranging from $45.00 to $45.82. Following the transaction, Toor holds 319,401 shares, which include 12,417 restricted stock units subject to future vesting and deferred payment conditions.
"In other recent news, Innodata reported a record Q3 revenue of $52 million, marking a significant 136% increase from the previous year. This substantial growth was driven in part by a $30.6 million revenue contribution from a single Big Tech customer. The company's adjusted EBITDA reached $13.9 million, representing 27% of the revenue. In light of these impressive figures, Innodata has raised its full-year 2024 revenue guidance to between $52 and $55 million, indicating an 88%-92% growth.
Innodata also announced strategic hires, including a high-level Ph.D. in AI, aiming to bolster innovation. The company anticipates strong business momentum to continue into Q4 and 2025, with plans in place to expand relationships with seven significant clients and increase federal government engagements. However, contributions from federal engagements are not expected to be significant until after 2025.
Innodata also received SEC approval for a $50 million securities offering, though there are no immediate plans to utilize this. These recent developments highlight the robust business momentum Innodata is experiencing as it heads into the fourth quarter and the upcoming year."
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