Innodata Inc. (NASDAQ:INOD), a technology company with a market capitalization of $1.25 billion and an impressive year-to-date return of over 428%, saw Director Toor Nauman Sabeeh recently sell a significant part of his assets in the company. According to InvestingPro data, the company maintains strong financial health with a GREAT overall score. According to a recent SEC filing, Sabeeh sold 110,207 shares of Innodata common stock on December 20, 2024. The shares were sold at a weighted average price of $44.00 , with a total of $ 4.85 million.

Following this transaction, Sabeeh continues to own 209,194 shares, which includes 12,417 restricted stock units that are set to vest in June 2025 or at the company’s next annual meeting. The sale was reportedly made for portfolio diversification purposes, with the transaction being executed at prices ranging from $44.00 to $44.10.

In other recent news, Innodata reported a record Q3 revenue of $52 million, a significant 136% increase from last year, during the Third Quarter 2024 Earnings Conference Call. This growth was primarily driven by a $30.6 million revenue contribution from a Big Tech customer and expanded engagements with the federal government. The company’s adjusted EBITDA reached $27% of revenue, standing at $13.9 million.

Innodata also raised its full-year 2024 revenue guidance to $52-$55 million, indicating an 88%-92% growth. The company’s cash reserves saw an increase, standing at $26.4 million, which is $10 million from the previous quarter. Despite receiving SEC approval for a $50 million securities offering, the company has no immediate fundraising plans.

These recent developments reflect Innodata’s strong business momentum, with the company expecting this strong performance to continue into Q4 and 2025. The company is also making strategic hires, including upper level Ph.D. in AI, to strengthen innovation, and plans to expand relationships with seven key clients and increase engagements with the federal government.

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