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10-Q Filing

INNODATA INC CIK: 903651 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001410578-22-001445
Period End Date 20220331
Filing Date 20220513
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance inod-20220331x10q_htm.xml
Filing Contents
Balance Sheet 84 line items
Line Item Tag Value Unit Period
Accounts receivable, net of allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $820.00K USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $730.00K 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 $15.43M USD Point-in-time
Series preferred stock, outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $18.90M 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
Accounts receivable, net of allowance for doubtful accounts of $820 and $730, respectively AccountsReceivableNetCurrent $10.90M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $820 and $730, respectively AccountsReceivableNetCurrent $11.38M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $3.75M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 75.00M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $3.68M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 75.00M shares Point-in-time
Total current assets AssetsCurrent $30.09M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 30.36M shares Point-in-time
Total current assets AssetsCurrent $33.96M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 30.35M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 27.16M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 27.18M shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $2.88M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $2.95M USD Point-in-time
Treasury stock, shares TreasuryStockShares 3.18M shares Point-in-time
Right-of-use-asset, net OperatingLeaseRightOfUseAsset $5.62M USD Point-in-time
Right-of-use-asset, net OperatingLeaseRightOfUseAsset $4.62M USD Point-in-time
Treasury stock, shares TreasuryStockShares 3.18M shares Point-in-time
Other assets OtherAssetsNoncurrent $2.10M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.25M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxAssetsNet $1.87M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxAssetsNet $1.95M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $10.35M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $11.23M USD Point-in-time
Goodwill Goodwill $2.14M USD Point-in-time
Goodwill Goodwill $2.14M USD Point-in-time
Total assets Assets $54.93M USD Point-in-time
Total assets Assets $59.22M USD Point-in-time
Accounts payable AccountsPayableCurrent $1.82M USD Point-in-time
Accounts payable AccountsPayableCurrent $1.73M USD Point-in-time
Accrued expenses and other AccruedLiabilitiesCurrent $7.56M USD Point-in-time
Accrued expenses and other AccruedLiabilitiesCurrent $7.23M USD Point-in-time
Accrued salaries, wages and related benefits EmployeeRelatedLiabilitiesCurrent $6.39M USD Point-in-time
Accrued salaries, wages and related benefits EmployeeRelatedLiabilitiesCurrent $6.04M USD Point-in-time
Income and other taxes TaxesPayableCurrent $3.21M USD Point-in-time
Income and other taxes TaxesPayableCurrent $3.41M USD Point-in-time
Long-term obligations - current portion LongTermDebtCurrent $1.28M USD Point-in-time
Long-term obligations - current portion LongTermDebtCurrent $1.23M USD Point-in-time
Operating lease liability - current portion OperatingLeaseLiabilityCurrent $1.03M USD Point-in-time
Operating lease liability - current portion OperatingLeaseLiabilityCurrent $812.00K USD Point-in-time
Total current liabilities LiabilitiesCurrent $20.45M USD Point-in-time
Total current liabilities LiabilitiesCurrent $21.30M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $17.00K USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $15.00K USD Point-in-time
Long-term obligations, net of current portion LongTermDebtNoncurrent $6.22M USD Point-in-time
Long-term obligations, net of current portion LongTermDebtNoncurrent $6.13M USD Point-in-time
Operating lease liability, net of current portion OperatingLeaseLiabilityNoncurrent $5.28M USD Point-in-time
Operating lease liability, net of current portion OperatingLeaseLiabilityNoncurrent $4.29M USD Point-in-time
Total liabilities Liabilities $30.89M USD Point-in-time
Total liabilities Liabilities $32.81M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Non-controlling interests RedeemableNoncontrollingInterestEquityCarryingAmount $-732.00K USD Point-in-time
Non-controlling interests RedeemableNoncontrollingInterestEquityCarryingAmount $-3.52M 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; 30,363,000 shares issued and 27,179,000 outstanding at March 31, 2022 and 30,347,000 shares issued and 27,163,000 outstanding at December 31, 2021 CommonStockValue $304.00K USD Point-in-time
Common stock, $.01 par value; 75,000,000 shares authorized; 30,363,000 shares issued and 27,179,000 outstanding at March 31, 2022 and 30,347,000 shares issued and 27,163,000 outstanding at December 31, 2021 CommonStockValue $303.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $35.12M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $32.77M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.16M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $345.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.17M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.19M USD Point-in-time
Stockholders' Equity before Treasury Stock, Total StockholdersEquityBeforeTreasuryStock $31.24M USD Point-in-time
Stockholders' Equity before Treasury Stock, Total StockholdersEquityBeforeTreasuryStock $36.39M USD Point-in-time
Less: treasury stock, 3,184,000 shares at March 31, 2022 and December 31, 2021 at cost TreasuryStockValue $6.46M USD Point-in-time
Less: treasury stock, 3,184,000 shares at March 31, 2022 and December 31, 2021 at cost TreasuryStockValue $6.46M USD Point-in-time
Total stockholders' equity StockholdersEquity $29.93M USD Point-in-time
Total stockholders' equity StockholdersEquity $29.64M USD Point-in-time
Total stockholders' equity StockholdersEquity $24.78M USD Point-in-time
Total stockholders' equity StockholdersEquity $30.15M USD Point-in-time
Total liabilities, non-controlling interests and stockholders' equity LiabilitiesAndStockholdersEquity $59.22M USD Point-in-time
Total liabilities, non-controlling interests and stockholders' equity LiabilitiesAndStockholdersEquity $54.93M USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Revenues Revenues $15.97M USD 1 Quarter
Revenues Revenues $21.19M USD 1 Quarter
Direct operating costs DirectOperatingCosts $10.10M USD 1 Quarter
Direct operating costs DirectOperatingCosts $13.41M USD 1 Quarter
Selling and administrative expenses SellingGeneralAndAdministrativeExpense $10.19M USD 1 Quarter
Selling and administrative expenses SellingGeneralAndAdministrativeExpense $5.53M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-3.00K USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-10.00K USD 1 Quarter
Total CostsAndExpenses $15.63M USD 1 Quarter
Total CostsAndExpenses $23.61M USD 1 Quarter
Income (loss) before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $336.00K USD 1 Quarter
Income (loss) before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-2.42M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $-73.00K USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $475.00K USD 1 Quarter
Consolidated net income (loss) ProfitLoss $-2.89M USD 1 Quarter
Consolidated net income (loss) ProfitLoss $409.00K USD 1 Quarter
Income (loss) attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $-75.00K USD 1 Quarter
Income (loss) attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $11.00K USD 1 Quarter
Net income (loss) attributable to Innodata Inc. and Subsidiaries NetIncomeLossAttributableToParent1 $398.00K USD 1 Quarter
Net income (loss) attributable to Innodata Inc. and Subsidiaries NetIncomeLossAttributableToParent1 $-2.81M USD 1 Quarter
Basic EarningsPerShareBasic $0.02 USD 1 Quarter
Basic EarningsPerShareBasic $-0.10 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.10 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.01 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 25,873.00 shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 27,158.00 shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 29,452.00 shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 27,158.00 shares 1 Quarter
Consolidated net income (loss) ProfitLoss $-2.89M USD 1 Quarter
Consolidated net income (loss) ProfitLoss $409.00K USD 1 Quarter
Pension liability adjustment, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-11.00K USD 1 Quarter
Pension liability adjustment, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-40.00K USD 1 Quarter
Change in fair value of derivatives, net of taxes OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $5.00K USD 1 Quarter
Change in fair value of derivatives, net of taxes OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax - USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-26.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-21.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-10.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $19.00K USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-2.87M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $399.00K USD 1 Quarter
Less: Comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-75.00K USD 1 Quarter
Less: Comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $11.00K USD 1 Quarter
Comprehensive income (loss) attributable to Innodata Inc. and Subsidiaries ComprehensiveIncomeNetOfTax $388.00K USD 1 Quarter
Comprehensive income (loss) attributable to Innodata Inc. and Subsidiaries ComprehensiveIncomeNetOfTax $-2.80M USD 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Consolidated net income (loss) ProfitLoss $-2.89M USD 1 Quarter
Consolidated net income (loss) ProfitLoss $409.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $873.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $697.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $537.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $278.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-45.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $44.00K USD 1 Quarter
Pension cost DefinedContributionPlanIncreaseDecreaseCost $11.00K USD 1 Quarter
Pension cost DefinedContributionPlanIncreaseDecreaseCost $142.00K USD 1 Quarter
Loss on lease termination GainLossOnTerminationOfLease - USD 1 Quarter
Loss on lease termination GainLossOnTerminationOfLease $-125.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-487.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $448.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-223.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $63.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-52.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-144.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $956.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-533.00K USD 1 Quarter
Accrued salaries, wages and related benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-407.00K USD 1 Quarter
Accrued salaries, wages and related benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-789.00K USD 1 Quarter
Income and other taxes IncreaseDecreaseInAccruedTaxesPayable $-718.00K USD 1 Quarter
Income and other taxes IncreaseDecreaseInAccruedTaxesPayable $176.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $757.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-1.50M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $503.00K USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $1.94M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.94M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-503.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $26.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $609.00K USD 1 Quarter
Withholding taxes on net settlement of stock-based compensation WithholdingTaxesOnStockBasedCompensation $-764.00K USD 1 Quarter
Withholding taxes on net settlement of stock-based compensation WithholdingTaxesOnStockBasedCompensation - USD 1 Quarter
Redemption of non-controlling interest ProceedsFromPaymentsToMinorityShareholders - USD 1 Quarter
Redemption of non-controlling interest ProceedsFromPaymentsToMinorityShareholders $1.00K USD 1 Quarter
Payment of long-term obligations RepaymentsOfLongTermDebt $39.00K USD 1 Quarter
Payment of long-term obligations RepaymentsOfLongTermDebt $268.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-423.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-12.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations $-108.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations $-28.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-277.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-3.48M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $18.90M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.43M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $17.30M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $17.57M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $18.90M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.43M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $17.30M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $17.57M USD Point-in-time
Cash paid for income taxes IncomeTaxesPaid $571.00K USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $308.00K USD 1 Quarter
Non cash redemption of non-controlling interest NonCashRedemptionOfNonControllingInterest - USD 1 Quarter
Non cash redemption of non-controlling interest NonCashRedemptionOfNonControllingInterest $-2.86M USD 1 Quarter
Cash paid for operating leases OperatingLeasePayments $437.00K USD 1 Quarter
Cash paid for operating leases OperatingLeasePayments $493.00K USD 1 Quarter
Cash paid for interest InterestPaidNet $11.00K USD 1 Quarter
Cash paid for interest InterestPaidNet $4.00K USD 1 Quarter
Stockholders Equity 27 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $29.93M USD Point-in-time
Balance StockholdersEquity $29.64M USD Point-in-time
Balance StockholdersEquity $24.78M USD Point-in-time
Balance StockholdersEquity $30.15M 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 income attributable to Innodata Inc. and subsidiaries NetIncomeLoss $-2.81M USD 1 Quarter
Net income attributable to Innodata Inc. and subsidiaries NetIncomeLoss $398.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $278.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $537.00K USD 1 Quarter
Stock option exercises StockIssuedDuringPeriodValueStockOptionsExercised $609.00K USD 1 Quarter
Stock option exercises StockIssuedDuringPeriodValueStockOptionsExercised $27.00K USD 1 Quarter
Shares withheld for exercise settlement and taxes AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $763.00K USD 1 Quarter
Shares withheld for exercise settlement and taxes AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $53.00K USD 1 Quarter
Redemption of non-controlling interest AdjustmentsToAdditionalPaidInCapitalOther $-2.86M USD 1 Quarter
Pension liability adjustments, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-11.00K USD 1 Quarter
Pension liability adjustments, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-40.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-26.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-21.00K USD 1 Quarter
Change in fair value of derivatives, net of taxes OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $5.00K USD 1 Quarter
Change in fair value of derivatives, net of taxes OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax - USD 1 Quarter
Balance StockholdersEquity $29.93M USD Point-in-time
Balance StockholdersEquity $29.64M USD Point-in-time
Balance StockholdersEquity $24.78M USD Point-in-time
Balance StockholdersEquity $30.15M 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.

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