10-Q Filing

INNODATA INC CIK: 903651 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001144204-19-025076`
Period End Date	20190331
Filing Date	20190510
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	inod-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 40 Cash Flow Statement 48 Stockholders Equity 19

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$900.00	USD	Point-in-time
Serial preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Serial preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Serial preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.16M	USD	Point-in-time
Serial preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $900 and $1,000, respectively	`AccountsReceivableNetCurrent`	$8.32M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $900 and $1,000, respectively	`AccountsReceivableNetCurrent`	$10.63M	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`	$5.78M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.73M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	27.63M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	27.56M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$27.27M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.95M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.81M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.86M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.88M	shares	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$7.78M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.68M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.68M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.32M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.44M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.75M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsCurrent`	$6.15M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsCurrent`	$6.28M	USD	Point-in-time
Goodwill	`Goodwill`	$2.83M	USD	Point-in-time
Goodwill	`Goodwill`	$2.83M	USD	Point-in-time
Goodwill	`Goodwill`	$2.05M	USD	Point-in-time
Goodwill	`Goodwill`	$2.09M	USD	Point-in-time
Total assets	`Assets`	$46.05M	USD	Point-in-time
Total assets	`Assets`	$52.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.83M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.25M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.90M	USD	Point-in-time
Accrued salaries, wages and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$3.46M	USD	Point-in-time
Accrued salaries, wages and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.49M	USD	Point-in-time
Income and other taxes	`TaxesPayableCurrent`	$3.53M	USD	Point-in-time
Income and other taxes	`TaxesPayableCurrent`	$3.72M	USD	Point-in-time
Long-term obligations - current portion	`LongTermDebtCurrent`	$1.03M	USD	Point-in-time
Long-term obligations - current portion	`LongTermDebtCurrent`	$1.53M	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$383.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$571.00K	USD	Point-in-time
Long-term obligations, net of current portion	`LongTermDebtNoncurrent`	$4.06M	USD	Point-in-time
Long-term obligations, net of current portion	`LongTermDebtNoncurrent`	$3.10M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$7.57M	USD	Point-in-time
Non-controlling interests	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$-3.44M	USD	Point-in-time
Non-controlling interests	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$-3.44M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Serial preferred stock; 5,000,000 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Serial preferred stock; 5,000,000 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value; 75,000,000 shares authorized; 27,633,000 shares issued and 25,952,000 outstanding at March 31, 2019; 27,558,000 shares issued and 25,877,000 outstanding at December 31, 2018	`CommonStockValue`	$275.00K	USD	Point-in-time
Common stock, $.01 par value; 75,000,000 shares authorized; 27,633,000 shares issued and 25,952,000 outstanding at March 31, 2019; 27,558,000 shares issued and 25,877,000 outstanding at December 31, 2018	`CommonStockValue`	$276.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.58M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.71M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.35M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.90M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$228.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$846.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$213.00K	USD	Point-in-time
Stockholders' Equity before Treasury Stock, Total	`StockholdersEquityBeforeTreasuryStock`	$35.19M	USD	Point-in-time
Stockholders' Equity before Treasury Stock, Total	`StockholdersEquityBeforeTreasuryStock`	$35.09M	USD	Point-in-time
Less: treasury stock, 1,681,000 shares at cost	`TreasuryStockValue`	$4.62M	USD	Point-in-time
Less: treasury stock, 1,681,000 shares at cost	`TreasuryStockValue`	$4.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.47M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.37M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$31.12M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$52.68M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$46.05M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$14.12M	USD	1 Quarter
Revenues	`Revenues`	$13.69M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$9.89M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$9.56M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.92M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.60M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-11.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-4.00K	USD	1 Quarter
Totals	`CostsAndExpenses`	$14.17M	USD	1 Quarter
Totals	`CostsAndExpenses`	$13.81M	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-479.00K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$306.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$582.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$-28.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-276.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-451.00K	USD	1 Quarter
Income (loss) attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-8.00K	USD	1 Quarter
Income (loss) attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.00K	USD	1 Quarter
Net loss attributable to Innodata Inc. and Subsidiaries	`NetIncomeLoss`	$-452.00K	USD	1 Quarter
Net loss attributable to Innodata Inc. and Subsidiaries	`NetIncomeLoss`	$-268.00K	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`	25.88M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.93M	shares	1 Quarter
Net loss	`ProfitLoss`	$-276.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-451.00K	USD	1 Quarter
Pension liability adjustments, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$36.00K	USD	1 Quarter
Pension liability adjustments, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$59.00K	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-531.00K	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	-	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-28.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$264.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-618.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$228.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-223.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-894.00K	USD	1 Quarter
Comprehensive income (loss) attributed to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-8.00K	USD	1 Quarter
Comprehensive income (loss) attributed to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.00K	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`	$-886.00K	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-276.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-451.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$884.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$809.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$129.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$140.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$143.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-734.00K	USD	1 Quarter
Pension cost	`DefinedContributionPlanIncreaseDecreaseCost`	$113.00K	USD	1 Quarter
Pension cost	`DefinedContributionPlanIncreaseDecreaseCost`	$-1.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.54M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-952.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-474.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-241.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-44.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-75.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$20.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-371.00K	USD	1 Quarter
Accrued salaries, wages and related benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-582.00K	USD	1 Quarter
Accrued salaries, wages and related benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.05M	USD	1 Quarter
Income and other taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$478.00K	USD	1 Quarter
Income and other taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$170.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.65M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.10M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$625.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$485.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-625.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-485.00K	USD	1 Quarter
Payment of long-term obligations	`RepaymentsOfLongTermDebt`	$387.00K	USD	1 Quarter
Payment of long-term obligations	`RepaymentsOfLongTermDebt`	$301.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-387.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-301.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$46.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$63.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$772.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.29M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.87M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.41M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.16M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.87M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.41M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.16M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$71.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$339.00K	USD	1 Quarter
Cash paid for operating leases	`OperatingLeasePayments`	$501.00K	USD	1 Quarter
Cash paid for operating leases	`OperatingLeasePayments`	$638.00K	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$30.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.37M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.12M	USD	Point-in-time
Net loss attributable to Innodata Inc. and subsidiaries	`NetIncomeLoss`	$-452.00K	USD	1 Quarter
Net loss attributable to Innodata Inc. and subsidiaries	`NetIncomeLoss`	$-268.00K	USD	1 Quarter
Issuance of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$6.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$123.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$140.00K	USD	1 Quarter
Pension liability adjustments, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$36.00K	USD	1 Quarter
Pension liability adjustments, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$59.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-28.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$264.00K	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-531.00K	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	-	USD	1 Quarter
Balance	`StockholdersEquity`	$30.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$30.37M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.12M	USD	Point-in-time

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