ROARABLE // PRO
GLOBAL DESKS // NYC --:--:-- NYSE
US TAPE
ROAR ▸

INOD // Innodata Inc.

DES <GO> NASDAQ RQD COCKPIT → CIK 0000903651 ↗
Technology • EDP Services
$46.17 ▼ -1.48 (-3.11%)
MKT CAP: $1.59B • VOL: 1.45M
INOD // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE
▼ DOWNGRADE // B (RQD 75) -> C (RQD 62)
ROARABLE C
RQD CONFIDENCE
62 / 100 -13D
5 X 20-PT QUANT PILLARS
E 0 D 35 C 59 B 70 A 86+
Roarable Hold — Fair / Balanced Risk-Reward
01 MASSIVE / SEC XBRL
Forensic Fundamentals
20 / 20
STRONG
FCF +31.4% vs NI +12.3% • ROIC-WACC +31.1% • Z 18.78
02 INSTITUTIONAL TAPE & TREND
Whale & Options Flow
[LOCKED] FLAGGED
UNLOCK BELOW TO REVEAL
03 SEC XBRL CAPITAL ALLOCATION
Insider & Capital Conviction
[LOCKED] FLAGGED
UNLOCK BELOW TO REVEAL
04 FRED 90D r-MATRIX
Macro Regime Fit
7 / 20
WARNING
HEADWIND • r(10Y)=-0.01 (+23bp) • r(OAS)=-0.27
05 10-K REDLINE AUDIT
Forensic 10-K Risk
18 / 20
STRONG
20 BASE - 2 DEDUCT • 0 CRIT / 0 MED • STABLE
ALERT

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INOD // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +0.98%▼ SUPPORT BREAKDOWN
2026-11-02O $47.65H $47.65L $46.17C $46.17VOL 1.45M
RES: $72.73SUP: $49.36SMA50: $58.43SMA200: $61.34
$130.9$107.0$83.02$59.08$35.13RES $72.73SUP $49.36$46.172026-05-042026-06-172026-08-042026-09-172026-11-02
INOD // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE
HIGH-CONVICTION LONG CONVICTION: 85/100
BEAR 0
100 BULL

Innodata Inc. (INOD) exhibits 39.5% gross margins and 39.7% return on invested capital within Technology (EDP Services), balanced against a 30.5x enterprise multiple and 4.8% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)
01. Operating Leverage & Capital Efficiency Moat

Sustained 39.5% gross profitability converts into 15.8% operating margin and 39.7% ROIC, outpacing sector cost of capital.

ROIC: 39.7% // GM: 39.5%
02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +47.6% paired with 2.25% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +47.6% // FCF YLD: 2.25%
03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 18.78 and Piotroski F-Score of 8/9 indicate low near-term refinancing stress.

ALTMAN Z: 18.78 // F-SCORE: 8/9
▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)
01. Multiple Compression & Duration Sensitivity

Trading at 49.3x trailing P/E (41.4x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 49.3x // EV/EBITDA: 30.5x
02. Options Skew & Event Volatility Risk

Options market prices a ±5.2% implied move with a 0.85 put/call ratio around $46.17 max pain.

IMPL MOVE: ±5.2% // P/C: 0.85
03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in EDP Services require continuous execution to defend 12.8% net margins.

NET MARGIN: 12.8% // D/E: 0.45x
KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 41.4x forward consensus, and institutional 13F positioning.
MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.10).
FORM 4 & 13F FLOW OPEN OWN <GO>
FILER SIDE $ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>
UNUSUAL OPTIONS TAPE OPEN OPT <GO>
STRIKE / EXP TYPE PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>
KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>
TRAILING P/E 49.3x
FORWARD P/E 41.4x
EV / EBITDA 30.5x
FCF YIELD 2.25%
GROSS MARGIN 39.5%
OPERATING MARGIN 15.8%
NET MARGIN 12.8%
ROIC % 39.7%
REV GROWTH YOY +47.6%
DILUTED EPS TTM $0.94
DEBT / EQUITY —
DIVIDEND YIELD 0.00%
RSI-14 MOMENTUM 37.1
5Y EQUITY BETA —
FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>
MACRO CORRELATION CALIBRATION ACTIVE BELOW.
FRED MACRO REGIME STRESS-TEST SIMULATOR // INODPEARSON R VARIANCE ENGINE
01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO
02 // POSITION NOTIONAL EXPOSURE
HEADLINE STRESS SCORE
75/100SEVERE DRAWDOWN PRESSURE
PRIMARY FACTOR EXPOSURE
DFII10 // -0.61 r
Latest: 2.08%
EST. DIRECTIONAL MOVE
-8.50%
Implied Px: $42.25
EST. DOLLAR VARIANCE
-$4,248
On $50,000 Notional
[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for INOD & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>