11:51 AM EDT, 05/08/2026 (MT Newswires) -- Innodata (INOD) posted strong Q1 results with "massive beats"while it also raised its 2026 revenue growth outlook to about 40% year on year amid significant demand for its AI products, Wedbush Securities said in a note Friday.

The company's Q1 revenue of $90.1 million was up 54% year on year and up 24% sequentially, "well above"the consensus estimate of $76.5 million as Innodata is "seeing accelerating momentum across its frontier AI lab customer base,"the note said.

The investment firm also highlighted the fact that the company announced new engagements with a Big Tech company, which is expected to generate about $51 million in 2026 revenue.

Meanwhile, revenue from Innodata's other Big Tech clients, excluding its largest, rose 453% year on year during the quarter, the note said.

Wedbush kept Innodata's outperform rating and lifted the company's price target to $80 from $75.

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