Innodata Inc (NASDAQ: INOD) is a digital services and technology company that provides AI data annotation, data transformation, and digital content solutions to enterprise customers. The company operates two reported segments: Digital Data Solutions (DDS), which delivers project-based and contracted data preparation and annotation services primarily for large language model development, and Agility, a content syndication and PR software platform that depends on content providers. Revenue is generated through a mix of project-based service contracts in the DDS segment and subscription or transactional arrangements in the Agility segment. The DDS segment carries material customer concentration risk, with revenue concentrated in a limited number of customers, and contracts are primarily at-will, meaning customers can reduce, delay, or cancel projects. The Agility segment depends on relationships with content providers. The filing does not disclose specific revenue figures, customer counts, or geographic revenue splits in the excerpts available.

Revenue model

Project-based service contracts in the Digital Data Solutions segment and content syndication or software subscription arrangements in the Agility segment. DDS contracts are primarily at-will with concentration in a limited number of customers.

Products and services

Digital Data Solutions (DDS): AI training data annotation, data transformation, and digital content services. Agility: PR software and content syndication platform reliant on content providers.

Customers and end markets

Enterprise customers requiring AI training data and data preparation services, including organizations developing large language models. Agility segment serves PR and communications end markets. DDS segment has revenue concentration in a limited number of customers, as noted in the FY2025 10-K filed 2026-02-26.

Value-chain role

Outsourced data services provider and software platform operator sitting between AI model developers and their need for structured, annotated training data, and between content providers and PR/communications end users.

Geographic exposure

The filing excerpts reference exposure to geopolitical conflicts as a risk factor but do not disclose specific geographic revenue breakdowns.

Source: SEC 10-K, filed 2026-02-26

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