10-Q Filing

INNODATA INC CIK: 903651 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001104659-20-061425`
Period End Date	20200331
Filing Date	20200514
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	inod-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 40 Cash Flow Statement 48 Stockholders Equity 22

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$750.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$773.00K	USD	Point-in-time
Series preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Series preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Series preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.87M	USD	Point-in-time
Series preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.74M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $773 and $750, respectively	`AccountsReceivableNetCurrent`	$9.72M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $773 and $750, respectively	`AccountsReceivableNetCurrent`	$9.51M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.68M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.42M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	27.64M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$23.93M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.46M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$24.02M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.12M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.91M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.46M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.64M	shares	Point-in-time
Right-of-use-asset	`OperatingLeaseRightOfUseAsset`	$6.53M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.18M	shares	Point-in-time
Right-of-use-asset	`OperatingLeaseRightOfUseAsset`	$7.00M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.18M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.11M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.44M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$1.91M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$2.08M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$5.48M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$4.98M	USD	Point-in-time
Goodwill	`Goodwill`	$2.11M	USD	Point-in-time
Goodwill	`Goodwill`	$2.05M	USD	Point-in-time
Goodwill	`Goodwill`	$2.09M	USD	Point-in-time
Goodwill	`Goodwill`	$2.00M	USD	Point-in-time
Total assets	`Assets`	$49.75M	USD	Point-in-time
Total assets	`Assets`	$48.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.42M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.45M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.34M	USD	Point-in-time
Accrued salaries, wages and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.26M	USD	Point-in-time
Accrued salaries, wages and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.20M	USD	Point-in-time
Income and other taxes	`TaxesPayableCurrent`	$4.53M	USD	Point-in-time
Income and other taxes	`TaxesPayableCurrent`	$4.18M	USD	Point-in-time
Long-term obligations - current portion	`LongTermDebtCurrent`	$856.00K	USD	Point-in-time
Long-term obligations - current portion	`LongTermDebtCurrent`	$912.00K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$922.00K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$1.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.81M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$326.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$363.00K	USD	Point-in-time
Long-term obligations, net of current portion	`LongTermDebtNoncurrent`	$4.53M	USD	Point-in-time
Long-term obligations, net of current portion	`LongTermDebtNoncurrent`	$4.58M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$6.73M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$6.33M	USD	Point-in-time
Non-controlling interests	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$-3.41M	USD	Point-in-time
Non-controlling interests	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$-3.42M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Serial preferred stock; 4,998,000 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Serial preferred stock; 4,998,000 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value; 75,000,000 shares authorized; 27,643,000 shares issued and 24,459,000 outstanding at March 31, 2020 and December 31, 2019;	`CommonStockValue`	$275.00K	USD	Point-in-time
Common stock, $.01 par value; 75,000,000 shares authorized; 27,643,000 shares issued and 24,459,000 outstanding at March 31, 2020 and December 31, 2019;	`CommonStockValue`	$275.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$28.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$28.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.63M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-920.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.79M	USD	Point-in-time
Stockholders' Equity before Treasury Stock, Total	`StockholdersEquityBeforeTreasuryStock`	$32.77M	USD	Point-in-time
Stockholders' Equity before Treasury Stock, Total	`StockholdersEquityBeforeTreasuryStock`	$31.70M	USD	Point-in-time
Less: treasury stock, 3,184,000 shares at March 31, 2020 and December 31, 2019 at cost	`TreasuryStockValue`	$6.46M	USD	Point-in-time
Less: treasury stock, 3,184,000 shares at March 31, 2020 and December 31, 2019 at cost	`TreasuryStockValue`	$6.46M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$48.88M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$49.75M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$13.69M	USD	1 Quarter
Revenues	`Revenues`	$14.53M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$9.56M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$9.74M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.60M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.72M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-13.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-11.00K	USD	1 Quarter
Totals	`CostsAndExpenses`	$14.17M	USD	1 Quarter
Totals	`CostsAndExpenses`	$14.48M	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$51.00K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-479.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$-28.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$405.00K	USD	1 Quarter
Consolidated net loss	`ProfitLoss`	$-451.00K	USD	1 Quarter
Consolidated net loss	`ProfitLoss`	$-354.00K	USD	1 Quarter
Income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.00K	USD	1 Quarter
Income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$11.00K	USD	1 Quarter
Net loss attributable to Innodata Inc. and Subsidiaries	`NetIncomeLoss`	$-365.00K	USD	1 Quarter
Net loss attributable to Innodata Inc. and Subsidiaries	`NetIncomeLoss`	$-452.00K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.40M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.93M	shares	1 Quarter
Consolidated net loss	`ProfitLoss`	$-451.00K	USD	1 Quarter
Consolidated net loss	`ProfitLoss`	$-354.00K	USD	1 Quarter
Pension liability adjustment, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-14.00K	USD	1 Quarter
Pension liability adjustment, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$36.00K	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	-	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-171.00K	USD	1 Quarter
Foreign currency translation adjustment, net of taxes	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$264.00K	USD	1 Quarter
Foreign currency translation adjustment, net of taxes	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-718.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$228.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-875.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-223.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.23M	USD	1 Quarter
Comprehensive income attributed to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.00K	USD	1 Quarter
Comprehensive income attributed to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$11.00K	USD	1 Quarter
Comprehensive loss attributable to Innodata Inc. and Subsidiaries	`ComprehensiveIncomeNetOfTax`	$-224.00K	USD	1 Quarter
Comprehensive loss attributable to Innodata Inc. and Subsidiaries	`ComprehensiveIncomeNetOfTax`	$-1.24M	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Consolidated net loss	`ProfitLoss`	$-451.00K	USD	1 Quarter
Consolidated net loss	`ProfitLoss`	$-354.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$809.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$643.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$129.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$170.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-734.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-71.00K	USD	1 Quarter
Pension cost	`DefinedContributionPlanIncreaseDecreaseCost`	$200.00K	USD	1 Quarter
Pension cost	`DefinedContributionPlanIncreaseDecreaseCost`	$113.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$92.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.54M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$439.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-474.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$336.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-75.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$666.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$20.00K	USD	1 Quarter
Accrued salaries, wages and related benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.05M	USD	1 Quarter
Accrued salaries, wages and related benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-53.00K	USD	1 Quarter
Income and other taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$369.00K	USD	1 Quarter
Income and other taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$170.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$703.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.10M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$578.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$485.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-485.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-578.00K	USD	1 Quarter
Payment of long-term obligations	`RepaymentsOfLongTermDebt`	$387.00K	USD	1 Quarter
Payment of long-term obligations	`RepaymentsOfLongTermDebt`	$57.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-387.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-57.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$63.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-197.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-129.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.29M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.16M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.87M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.87M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.74M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.16M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.87M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.87M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.74M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$339.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for operating leases	`OperatingLeasePayments`	$504.00K	USD	1 Quarter
Cash paid for operating leases	`OperatingLeasePayments`	$501.00K	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$30.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$25.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.47M	USD	Point-in-time
Balance (in shares)	`TreasuryStockShares`	3.18M	shares	Point-in-time
Balance (in shares)	`TreasuryStockShares`	3.18M	shares	Point-in-time
Net loss attributable to Innodata Inc. and Subsidiaries	`NetIncomeLoss`	$-365.00K	USD	1 Quarter
Net loss attributable to Innodata Inc. and Subsidiaries	`NetIncomeLoss`	$-452.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$170.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$129.00K	USD	1 Quarter
Pension liability adjustments, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-14.00K	USD	1 Quarter
Pension liability adjustments, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$36.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$264.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-718.00K	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	-	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-171.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$30.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$25.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.47M	USD	Point-in-time
Balance (in shares)	`TreasuryStockShares`	3.18M	shares	Point-in-time
Balance (in shares)	`TreasuryStockShares`	3.18M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.