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Innodata (INOD)

Participants
Amy Agress SVP, General Counsel & Corporate Secretary
Jack Abuhoff President, CEO & Director
Mark Spelker EVP, CFO, Principal Accounting Officer & Principal Financial Officer
Dana Buska Feltl
Timothy Clarkson Van Clemens & Co.
Timothy Madey White Pine Capital
Call transcript
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Operator

Good day, and welcome to the Innodata Third Quarter 2021 Earnings Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Amy Agress. Please go ahead.

Amy Agress

Thank you, Shelby. everyone. morning, Good joining for Thank us you today.

then today Innodata; of speakers who our provide business, results Abuhoff, review third with from take CEO Mark Spelker, will your and the about We'll Jack for and perspective will our of first, follow a Our Jack are Mark quarter. CFO. then the hear We'll questions.

Section forward-looking being XXE during the harbor statements are made First, Act to as made provisions the of let Securities amended. call. amended XXA of are of of me Securities Exchange and statements that XXXX as qualify of safe pursuant the Act the XXXX These the Section

and based of limitation, effects future uncertainties, revenue COVID-XX expectations, assumptions on Forward-looking without any potential and statements subject in imply that a and reduced; contracts continued that emerging emergence and or cyber-attacks, are you. by thereto. estimates, indicate from on likelihood our information Jack. and revisions Exchange unauthorized results, time and call Data turn materially otherwise; disclosure statements expectations. in uncertainties our ability segment of and with on in and that coronavirus, may companies we growth clients the projects to the our governments, and terminated requirements clients differ projected providers in and Form include, undertake our number and of market the of or and depressed services rise novel execute and to strategy; we to a information and achievements. reports XX-K, use the changes Commission, of these and as of prospective joint employee privacy potential Solutions competitive data including of and conditions, population, I dependency external concentration may or new may the synergies laws, potential materialize, on segment of information project-based capabilities, business that changes committed forward-looking predict, and Data replace our over whether risks recent other the downturn ventures solutions; company announce expected and clients market existing and including are or number Agility the and of the or result of liabilities plans work solutions by of growth interruptions time work to goodwill amendments content our the could now our that and potential breaches our to security investments; or from or give our update in carrying various services strategic for ability particularly federal companies no result the or breaches, segment, a our impairment or nature acquisitions, competitors; of are Securities value Digital management's forecast, of performance results and company to continuing clients; completed, any be clients, development in acceptance assets volumes factors; deriving on canceled as COVID-XX, continued willingness breaches that to integrating limited undiscovered including businesses pandemic intangible of continuing in our of contracts the acquire; general current our risks other inability or statements or to to statements client, and businesses reliance and to the acquired of will acquire; a actual that the not any or factors difficulty systems, thereto; may business indicated cancel service the consumer, potential or reliance except limitation, X-K that in pandemic technological filings Digital other We of delay forward-looking from without at-will These the and projects; such responses the Solutions primarily of markets most XX-Q support new technology reduce, and required new current obligation market, in of Thank or securities clients

Jack Abuhoff

that QX very Good Thanks, I joining Amy. as you here We're anticipate pleased for thank we this to today XX% with year. Today, be growth as next more morning, importantly, revenue in well morning, this to QX. accelerate everyone. announce happy and in we're we to achieved us. And you growth

we're getting fifth expanding both with our straight sales we're Our confidence expansions of key represented current deals new the anticipated from and quarter traction we're relationships. growth. market QX capabilities. and of ramp-up of new The from force anticipating existing and our signing, the expansion several further new customer our stems in the year-over-year productivity

with million effect liken the starts A in revenue gains in one gross business exciting be It's to but the revenue while turns, in the $XX.X from through that even to is the through the and funneling QX, anticipated investment of at growth back for to and and cash expenditures, with operating same has anticipate incremental that directly bunch important some cash accelerate at wins on in managing as highly will business. is $XX essentially world's the itself deal organic time, software SaaS of Our cash for to of has flywheel new best investments charter thanks that's more our XX% believe that business. Indeed, significant the margin internal margins, growth announcing momentum, gross the increased a million more million cost generated continue We We QX new end of of at funded we leverage fixed almost ways expenditures profitable. generated with We and costs small we're I to flow into we of On growth internally incremental our worth anticipate that this cash effective out our our internally our who on flywheel. carefully seeing pointing our strong We're we're flowed believe our largest customer we builds free a $XX growth believe the our up close positive very important one incremental subscription last new yield our capabilities. SaaS and data the control. results. growth produces year. it revenue been will X-year of QX earnings said and flywheel banks, announced that product. we call, will software as flow. we business resources. a

Silicon spend $XXX around large yield computer moderation, opportunities of second and companies management, Valley these win believe the wins, even new supporting months. will information. now dollars, of content medical having both tech deals wins these of its with $X.X both seeing intelligent we expand are that firmly with tens million large important the We announced approximately again, we million We document millions these records the quickly top model company, development AI several for tech These over understanding, revenue AI customers of We're initiatives. won predictive $X.X we that further the million on next with also new over often expansion. and announced to of engagements anticipate new vision, around represent engaged important capabilities. opportunities some relationships On health

door in for foot the So opens up getting significant expansion. opportunities our

our across had that Agility industry the leader software for announced been we that and AI-driven Momentum SaaS we $X.X new kind seen never launched Agility, PR named corporate innovative AI-enabled relevant. an Lastly, are by companies release business. I this our in platform seen communications billion result, professionals market. exciting workflows. increasingly several of increasingly a have features AI our and verticals as is momentum as strategic services in

with AI quantities initiative of applications are key. and not begins Every Here's data, in large trained the data. traditional ends the AI programmed sense. with

they they high-quality perform trained when were because well, So with it's data.

teams AI-enabled subscribers, data creating sine Valley on high-quality executing AI offering large of on year, Silicon This To This force or of reputation platforms data at data core SaaS to managing financial Xx and for new the if expand the is development. for we're which ingredient, sales execs our capitalize So training built focusing to services non, you sales we're we've expansion sciences the building companies XX-year to XXX on. will, year. high-quality or been to is qua the is sales significant our year the beginning companies a investments plan AI force what algorithms XX tech product whether the a a the end from we've close and opportunity, at at expansion.

we X, were sales October of at execs. As XX

add a So leader the way. XX I Agility very to we're now sales data or SaaS there. our are our its Even are AI labor the to at ago, XX people a planning we've added mentioned sell market. heads is we're tight PR moment on platform, which, core, force, though to to Of be out some assigned well it's high-quality the billion finding as with $X.X in built as platform Momentum and the software market, ranked

sales. presently market Agility as to improve. net about retention sales likely subscription a recurring revenue believe channel have and million We to we well $XX is go of XX% that direct as annual with We both

products, up. Our within our anticipate We sales feed data product. product as it label growth channel their resell our aggressive ramps white our consume force our from partners or

and new both channel bringing focusing our partners from we're we're Additionally, channels, growth from existing in. partners channel

few months. us from partners channel about news next hear to expect can the new within You

SaaS built the Golden yield platforms, serve announced capitalize recurring X development which all believe week, SaaS identified we've these of Agility capability software to us all We SaaS all expertise, platform, in as allowed the new platforms of sales high-quality annotation launch this data enterprise in SaaS Gate market, product new as platform today's one designed marketplace. availability our core we management. will and general to on on and AI in to this needs our has our own revenue. just marketing a Our proprietary IP, plan technology, we build SaaS well additional and To

developing are and a In AI help productionize to SaaS addition, we companies models. platform deploy

the of We first this XXXX. in general availability expect of half platform

planning platforms value new significant believe new time customer are signing, late a our X landing this development our recurring new management a serve recurring quarterly will We AI to also financial well. initially XX% and and grow growing X with paying help a platform believe with of bases, direct be in AI become that simplifying to subscriber industry AI with to as half services and SaaS solutions, industry. SaaS Agility expanding year for of the of as half of AI. companies industry platform We're this significantly in services. of technology has platform these core will fast-growing a targeting and AI indirect XXXX. The new one announced data expand that platform of believe adoption in new products result relationships from our to new and able and one will customers lifetime platforms, revenue release subscription platforms, next platforms. medical deployment, we're and In the the for new this over as Taken of Tentatively, diversify will second win differentiate $XX.X release the platform. SaaS and services regard these obtain customer together, we're million the we large is AI platform of a services annotation growing general Apart million Of X quarter's we our our second subscribers our around for our building managed these of $XX.X and complement that general an platform large bank value. the We multinational currently accelerating help analytics. we designed SaaS this fourth about companies we benefits revenue September, extend proposition we're for revenue, or will further designed and data model

of are we third. well we'll off more Our we're a Once it's opportunities stages. worth as this out. that build to growing. working early-stage Silicon many with company, as It assortment get on We're an pipeline companies with Valley we've is tech announced, expanded mentioning ground getting X also a is with robust in top the large with of bit late and enterprises large expecting third we announcement do, a formal momentum which the companies

doing AI everything that of experiences. challenges. events implementations streamline couple reflect fundamentally addition, technology of as to as new use. many over the be a we designed AI its Innodata everything current labor I'll now is It analytics, When it well. AI to is turn on harnessing or the implementations to more we and the the to with shortage processes, and and work modernize our that large such deliver that cloud also we We're clear destined becomes interesting supply AI In CFO. we Mark, customers, continuing macro implementations techs chain have that do call in is discussions with to working address help organizations deeper other observe and are insightful these that to promise AI that initiatives

Mark Spelker

$X.XX XXXX everyone. diluted was Cash a XXXX, net basic per equivalents XXXX, $X.XX or for for XXXX. Jack. Revenue the Net the and $X.X period. quarter a $XX.X million at per basic X diluted XX, basic first loss the loss are at XX, share diluted XX% quarter. were loss we also million, share from And cash million, ago $X.XX basic Net $XX.X X $XX.X September Revenue of share million you. for million versus XX% ago XX, was year-over-year. of year million, and months September $XX.X up year the December the XXXX, was XXXX, up million income in or Good morning, you, $X.X share diluted period. Thank and September per versus of the or operator, XX, ended $X.X months $X.X up questions. ended quarter the net in ago for per of now Thank was and $X.XX ready for and from year million

Operator

Instructions]. [Operator

Dana question Buska with comes first from Feltl. Our

Dana Buska

these seems on expanding landing very if, contracts, quarter. you me It wonderful nice strategy these in I with contracts And of it of cadence new is Congratulations coming your had contracts? a quarter. a and was with this wondering to that new

Jack Abuhoff

those was the of and then reflective throw we're we I the really are capabilities requirements that got That's sales we requirements marketing market to two thrilled behind new of and customer formula new and going So the the contracts charter that's we in the couple Dana. contracts, even strategy. you're these couple great seeing platforms. idea contracts verify make A the Absolutely, that's our with a is of these And to that. something are question, and our announced market them. the scaling and forward we new to beyond marketing sure what send we product and customer productionizing new working and and out with customers' those team that tightly essentially on. capabilities requirements contracts aligned that looking to very it. we're we're requirements, perfect we hone it, large getting essentially I'm we working managers on And sales doing,

Dana Buska

announced. another Excellent. to about are That bit and question, with little have you be that? assigned sounds just data to talk annotation one center anticipate about wonderful. do this their how you new they has that applications. I And all talked know around Are be with marketing your Could platform that like you capacity own this also this? profit And a management to going SaaS you you its and I center. like profit anticipating own product other

Jack Abuhoff

Yes.

me product last of let said So terms with start in thing the management. you

is each manager's And fact, is a assigned to have job these not it. product product in that build manager a is own pure make invention fulfill critical And product a products very those identifying what the that's sure building reflective problems; white part. but the think our of of needs. where we're in can of we to I market spaces market product will, and

different there. along, the first And to -- market. market and managed there in people much are platforms services for But encapsulate is and to SaaS bit around into got products in use those the platforms. for of new capabilities a gaps. We've engineering some got new our we've SaaS building are number seeing we something is, historically, Now especially a we're that primarily of that product bring company. got service and technologies capabilities and significant There that our this platforms. this now Agility go foray scaling been new are managed we for we're management product gaps. as We've was market, we've there sales new despite things marketing addressing, larger what in tools

exciting represents trajectory. our this, me, So new to chapter very growth a in

Operator

Our Van next Clarkson Capital. Clemens with question comes from Tim

Timothy Clarkson

big get I lot own was of sold any shares. with question sold shares. Nick, shares, real you I'll quarter. first, a hasn't talking into few Chairman, in the he same the that then picture and we'll any great haven't a I go situation. details. I'm Mark, noticed I a Jack, guess, and I

going about So the we're the way the what it should potential where and develop? I the is look maybe at second Maybe this want to quarter kind are inning starting year talk next with of stuff. might fourth you into AI we and

Jack Abuhoff

Tim. Sure,

technologies importantly, they and very our just start management immediately they into for looking data deployment? they now to well, data? the fully Do an teams industry they figure can out are need? is data and that and very Do us a -- the they've we and finding that with this think for been struggle motivates and working avoid and several is the help years, and they relevant to strategies, encapsulate with. or We're I model we're companies then now that of equally figure need Or can are we're struggling lack things that customers scientist we're do really struggling their thing this packaged deal, a real new game. teams them. what innings them been large solutions thing so training We're working can who have to big they companies scientist AI who be significantly finding solution, them with of helpful starting some with using. with is application working the And important what AI we're early have something that one out, with in help

always with size. this We comprehensive about Fundamentally, and have market we we struggled been. about way, a our market data, we're very we're excited think that. very So inning we're in and early addressing

of As going open exciting wide a us, very AI, and indeed. to is in our result what's it's market on

Timothy Clarkson

Right.

Okay. in mean, to Innodata? A per useful any to be to on terms of more in couple of generate general have revenue basis? salesman Do forward much do how you specifics I here. need they expectations a

Jack Abuhoff

Yes.

is So to that a it really at. question. that answer on business that The good looking depends we're the

So is and the sales. In the in of business, smaller much hiring our smaller terms services be business, of They're have the be per style higher in salespeople of revenue where different managed salespeople carry of salespeople the customer in ramp-up quotas. a different smaller, services. solutions that quotas doing around style for solutions and significantly carry a average it's kind much them We -- this is And can the business. a lot of year numbers, equally we're impactful. services platform

to starting In more addition, sales solutions to I'm around plan the add platforms salespeople as new capabilities as and well. And with service discussed then, these next Dana, year, to we I piece. build

Timothy Clarkson

Right.

this noticed last quarter terms I can margins gross high that Now almost of XX%. this, -- these margins can forward XX% were in too, to basis? How for Mark on go maybe respond your versus year a

Jack Abuhoff

I at about look be in than SaaS going the it's business. think quite we can you the contribution talking to businesses, of margins over contribution that. XX% lower solutions, a and it's When bit depend mix In on margins services clearly.

expanding for So depending will is that think mix, margins. sure. the there margins do to gross continue that determine We upon the the gross room

Mark Spelker

a fixed his profit as think that increase, will to our fixed those more portion revenue comments, leverage revenue of I dropping will Jack levels and in continues costs, And higher costs mentioned gross and line. margins in with significant as result certain hopefully our the right to we of

Timothy Clarkson

Right, right.

you I'm start somewhere become on and million part, and that Now just you $XX you of mean start reasonable quick can understanding start are I profitability dirty XX%, you Innodata's in maybe kinds netting $XX those that what above a million, $XX XX%, holding million, anything? this but future $XX analysis million, to profitable, is thinking ideas of without netting terms be? to my and

Jack Abuhoff

for you see. compelling we're deep company the aggressively decisions we're that into new Right are so the and investment. think We as we're investing now, capabilities, making about in opportunities planning XXXX,

You see landing new contracts kinds the with we're of new capabilities.

foray the supporting bigger it ambition You sheet. incremental to we're And gross we're sheet. see this and balance same the SaaS. But time, a doing balance we've got margins with through deploying make into maintaining at the that that our

much what and think that we're great keep increased keep the a We So And of profitability to that, an I we're we deploy flowing that we We're contribution acceleration available believe, think looking to see is We're that gross great going money, revenue equity of in best it We us. strategy. business, How help way do it it? think now real in I the continue, margin? to to What think do the is understand now our the on protects to margin? the to going it that. will incremental profitability to at are we margin dollars investors Well, the the gross talking at going for line. gross that's about. well. investments with the business looking deploy where of

Timothy Clarkson

sure. Sure,

a you mean, earlier of that I more lot is mean when your of mean, comments, of or it I accurate? -- accurate? there just more Now about you that's than is data. big Innodata know quality quality more talked do I a but it, to being part by talked in data you

Jack Abuhoff

involves at these that being But to a things level there to now. quality, address not of core problematic lots data, looking to cases, its area. just accuracy data issues, measuring of more doing capabilities data, identify So in complex discussed. to talking When complex edge looking we're of terms about address like ability confidence edge at build that of It models, It's you're that we've a that. it's automate but ability And all at whether to accuracy. identify technologies able much AI quality is ability of to with space. cases, being the edge mathematics, than you're synthetic cases, very able training is it quality sometimes or

use old advantage that All new I've But It well, it. for for foot work a in we've is the that, than sure. shoulders or that. form competitive it's stands gives scale. case. significant what door small challenges take amount on your winning. different us built that's of a get It's of and then believed a by of being addressed and you recognized things you upon on that fashion you are the the we're bit use always new And customer, those that the is many, many cases in some customers This with a the years.

One remarks, of there. that in that's customer, we weeks the said contracts as that next I announced several prepared new to close couple million a commitment over with think in the months. the $X of my And last I going to expand of

going And market what is address something I to real got are think the we've significant that well. that it is, So is chops challenges now.

Timothy Clarkson

Right.

of experience that? AI of perceive as skill the the more that use your people? the it augment Or in of is tools competitive advantage, Now some what is about of it you terms more you and to would

Jack Abuhoff

it's think a people. to deprecate combination. don't I I like

our now. and right that's I to great that developing It So Well, team the that market. really It's out that somewhere. very, do well. collectively people. in a themselves even think the when got it our a We've proprietary from came We've is the And they're all the cylinders. us. technology the technology team proving came very technologies technology, from is work are got they firing operating on

Timothy Clarkson

of $XX work? $XX million, question. be last to of One level capacity you or I what to people hire Sure. mean, what the more million volume revenues, do able have to just at do or

Jack Abuhoff

at dependent and of the with our aspects labor are linear all. are and on There are there upon business business. aspects it of that that depends it are So more not

importance of table. complete automation I then We're in dependency that's invest a automation labor. disconnect. component can generally to on isn't given seeing labor There the speaking, more bring required we're the that there's think we on to increment. criticality, And of seeing and platforms, technology a SaaS the more course, less kinds to

that I So helps. hope

Operator

We'll White next take with from Capital. question Pine Tim Madey our

Timothy Madey

Nice you just questions the could in bit people now quarter, couple just online? capacity have of a bringing the force sales is, here. talk had guys. about maybe I a you little One

Jack Abuhoff

Is got? there happy be to. you've question a we'd Tim, Sure. specific

Timothy Madey

ramp Well, a while cash hired quota? but yes, about being you've and positive, sales I'm of I'm thinking you've reps, the number new it about potential thinking done and still the flow of now? those time as sales reach an I maybe it in reps and are average, where on they period And in of that think for progression aggregate about they what

Jack Abuhoff

Great question.

think that that going we're calls end relative now, where of the where our at plan are. me about the mentioned for to to let we XXX So XX to you I by opposed year. we're as

think year. we're bit close I like of that if But to fall we'll the going X short weeks, the little do, probably we X within after weeks few a up to plan. catch next of the

shape. So we're in good

XX So to, but business. XX what the million probably force business does from the It's the that year. that part that to a what headcount accounts we way. Agility sales by represents. scaling and hired in We're are we've assigned end of the that mean? aggressively of it's enablement subscription of the have about of upon they're Those Well, in on planning at roles, depending $X.X next people SaaS at was lot A in our X we're directors. Most solutions going year, potential business, is the about people of carry when and people the are where what to what by exactly the the sales year of year scheduled they're business. that are quotas we're the take of managers, who channel the and end start quota-carrying roles, services they assigned are people sales

of And well. people account lead $XXX,XXX executives. quota quotas There each. account probably who in some Of account carry them managers there. There's some XX got gen carry we've our headcount BDR some So who executives folks. of business are that the are are as around XX, about about probably

Mark Spelker

part Let of that. me last just get the

more which up deals in last of terms ramp-up, heads people productive. of and We're and ramp down they we've In in an more months in the to training people months. capable, then of and more just progressively mentorship, closing accelerated about X.X we during bringing become month. couple target includes X-month They're that ramp-up, per bringing

year. the that be next They they're their around good well we're modeled that. models So seeing that against, The the that. disappointing pretty news ramp-ups, to to for overall well ramp-up tracking We've to seem meaning to into is tracking built people we that are us particularly. ramp-up business continue is that going not our

as the have well. Officer, execute just tracking what he Chief best. and Tom successfully, really, level, before We an We're individual organizations that carefully built a doing. very, those very really to of watching scaled around. they're our he's we So at doing we've is good sure that we news. that just wonderful sales normative to Sales ramp-up knows making to He's grow that's models continue Perchinsky, numbers aggressively SaaS job at our think this

Timothy Madey

the color. about consider DDS I'm XX%. the nice can that growth revenue just another of your appreciate about you $XX.X Agility line recurring. the comment line on see as I well as probably made I thinking million north you of

your us could of the I If revenue perhaps? revenue maybe structures you margin help rate? about versus growth your nonrecurring with am component that recurring And right

Jack Abuhoff

lost somewhere. piece of question. to let it try I have that So a me may parse

or They're differ one product nonrecurring That's are or the The are managed than selling that engagement think we're but margins selling versus they see a are correlation were truth. it's I software, whether another, models; recurring they correlation for relative recurring similar. different margins. if There is an is, course, higher don't business level answer we services. whether margins margins between SaaS incremental are you're can to to of about one at mean and project to not. asking you I engagement nonrecurring work.

good seeing in You DDS certainly And that's mentioned and that we're true. Agility. growth

year. for that solid, Synodex side, as platform just we're too, the growth next exciting from I well that very to very very, coming want On mention, projecting

we fact, already QX. the that kind triple revenue close enough in In bag to book to have in probably of business

things good not going very That's So be by dismissed on any there. to measure.

Timothy Madey

On line, Agility that's product new the the driving is you've X that introducing. you're products mentioned the growth now? What product

Jack Abuhoff

recognized which that's platform. been very now a the platform, course, product leader, us. the and So of the growth exciting And driving that's as is for super Agility PR is that's Agility market cool

various stages customers. with development are platforms in other of The charter

most segment will in likely We revenue reported will not -- likely. be those most be Agility not the from

Timothy Madey

at structure? would you you if on characterize How Agility alone that look margin

Jack Abuhoff

subscription -- no related related that cost additional essentially sales deploy The you that So cost is marketing structure Agility. is an to incur costs. in and margin there's

are as SaaS high a expect margins the very, you incremental than the what very business. So from result, would

Timothy Madey

think unpack perspective? in perspective different could you've well of a this I as summarize from sales ways, I momentum of wondering but if And just technology a maybe or more a you was Great. number little flywheel comment answered as your a

Jack Abuhoff

And that Yes. and because hand, there's enthusiasm the and see that there's to well. think because customer good we new penetrate we expand when metaphor lot win enthusiasm tend We good we business. we we well confidence do like, and really builds a thing. X we it. that's new work itself. and to win, a And on We one a to tend of kind confidence on and it's on It's performed

So there's talk there they to you those and that are then X want about. Well, X. us to more things do X,

answer as us? the I getting areas other people they regularly it joining very senior I that. think we're it's work Well, want Why executives But into that why they we to further. want come we're Innodata. at companies by be how is now, bringing a driving So well, and who even business, success of goes doing. we're They I that and very successful are, part am see at solicited the of from see the look well. hiring they what serious people are into to When lot

It's perfect the into can -- flywheel So market as you journey inertia very to metaphor And was progressively initial this well, that it clients. if kind more lot and faster are. turn We're all to investment that And penetrating years of we a has now, that propel get of turning, gaining us just of we're accelerating new people We're large forward. several went want A very, addressing because of part we that where to requirements. that will, one. our overcoming be is is I finding help think tough. initial the effect. who of

Timothy Madey

on often with that AI too. you characterization I've elaborate the the Could flywheel a bit? technology heard synonymous itself

Jack Abuhoff

Yes. Excellent point. Absolutely.

networks way AI fundamental are the by neural they've the examples. So that learned work to is

learn So few if they a them examples, showed something. you

it discussion. but feeding more perform. works, that it's for good And the how more you they they examples, learn of gross higher I into If show examples simplification this a you're them, them That's think the more. enough

that address is the number your of that you as you're that the use training algorithms as of algorithms and better, cases can AI is performing So result increases. the progressively different with those

training good So on that data But then into XX% for it's And of going and then and technologies progressively and use the maybe top address. be you're data are well, with can analytics. some you're it's you rules-based other more closely you things that performs feeding better. there then but keep you some more and may it's and then that you're engineering performing or data, it XX% more there can you do so-so, can at accurate it, accurate, cases enough XX%. XX% better And where it put like training you're it it

exciting very a couple of to what's us is things. So

we've First, lot lot of we've We've got of created data. an that a data trained AI with platform a company. data. We're a

algorithms just our say, We're us like to of very We're platforms existing of our accurate better. like results. better for trained only algorithms. down for all you many going it more. We're more we our better, And enabling gets performance results clients, perform keep those and customers journey, as get embedding we've So many as very, accelerators that gets And into as those our our them to well. new deploying platforms, our of sure. building

they to give us us they work new do. more, As like

become become use As perform and more actionable, opportunity. presentable cases better the algorithms then that and more market creates

Timothy Madey

questions. keep up coming a It's almost more with like I flywheel,

mind. record modulation Just I thinking your if content mentioned win. with second I'm One customer. health you the that And Valley and Is more correct? about wouldn't you all work, same questions, is think Silicon X

Jack Abuhoff

that's Yes, correct.

Timothy Madey

mean content by did you what And modulation?

Jack Abuhoff

Content moderation.

So identifying and tolerate its contents platform content presented doesn't that toxic terms that platform. within service, violates identifying a of things

Timothy Madey

client Right. side, then record use there? would on product the how the the But health

Jack Abuhoff

so initiatives or all the risks in there. information, of On initiatives What's common number a clinical looking health. to of to perform assessments volumes quick at very make to around the analytics of vast looking pertains that health different got record we've side, is people looking are

Timothy Madey

there can you scope share length details did the are that and of that of or you size any Okay. contract? perhaps And on

Jack Abuhoff

$X Yes, we I it, which announced, that piece about being recurring. think, would $XXX,XXX a million one contract on be we the to with talked another it

$X million about the well. be some in recurring. remarks, expansion then would talked likely to And within today's would how as piece So likely there's onetime. The piece $XXX,XXX be that going I be

Timothy Madey

you Channel partners products? use of resell Last types what partners, to promise. question, channel Okay. would I

Jack Abuhoff

looking So kinds we are we're that There work. companies competitive do us. are also where varieties. some we're relationships There's one channel And other who people data there's us are of using one. with too. that with level somewhat That's in with feed. We're geographies at certain don't infestuousness, providing big one competitive of several a

it the other very One is service database becomes on Agility have resellers. it we're products And we we can relationship. white the that's out doing And labeling, of a put keeping them interesting let is large basis. of pristine that that we our jurisdictions. of components logo and put and go that our people to take accurate, influencers other a We on sell into channel in We've there. the then very database we someone's probably thing in doing lot most other label a pure white a an that very, addition, we're port where

have bases, who can have complementary resell they what ours our and people they have product We businesses, don't a that client does complementary product. does, have can they

Operator

time, question-and-answer will Jack for today's any additional the over to concludes conference or this closing I back session. remarks. turn That At

Jack Abuhoff

Thanks, operator.

as So planning for we're yes, year. in growth to quickly accelerating QX well as next recap,

with new of more SaaS force remain to will help very going expanding We that term. progressively drive our over We ability optimistic sales close late to on about about fundamentally to We're this chapter enthusiastic deals. all more that in programs momentum think has the new the long our spirit. truly productive. about ever and a other a data are the that's management expanding I had talked entrepreneurial substantial going Our and planning very opportunity We're become story. really better a acceleration. in don't stage penetrate we And annotation now execution, very customers SaaS our and the platforms initiatives. greater We're Innodata a works. as team, heralding new stronger platform see about

you for being interest. forward Thank next thank joining look So you time. We your to with you for us.

Operator

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