Innodata and Workiva present contrasting investment cases for 2026, with Innodata offering rapid AI-driven growth and Workiva providing a stable, subscription-based platform. Innodata's fiscal 2025 revenue surged 48% to nearly $252 million, driven by demand for AI data engineering, though one customer accounted for 58% of revenue. Workiva's revenue grew nearly 20% to $884 million, with 92% recurring revenue and a net retention rate of 112.8%, but it reported a net loss of approximately $26 million. Valuation metrics show Innodata trading at a forward P/E of 88.5x and a P/S ratio of 12.4x, while Workiva trades at 16.3x forward P/E and 3.0x P/S. The analysis favors Innodata for its higher growth potential despite customer concentration risk, while noting both companies carry significant risks.
Workiva IncRevenue grew nearly 20% with high recurring revenue but reported a net loss.
Oracle Corporation
Innodata IncRevenue surged 48% driven by demand for AI data engineering.