HIGHOutside partyCustomer
58%
top customer (DDS segment)
“10-K Item 1A: 'One customer in the DDS segment generated approximately 58% and 48% of the Company’s total revenues in the fiscal year ended December 31, 2025 and 2024.'”
INOD · Concentration risk · 10-K extracted
Innodata (INOD) concentration risks
Updated
The most significant concentration Innodata discloses is top customer (DDS segment) at 58%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Innodata’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH1
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Innodata's disclosed concentration risk centers on a single dominant customer relationship: one customer in the DDS segment generated approximately 58% of total revenues in fiscal 2025, up from 48% the prior year. This is a classic dependency exposure rather than a structural, industry-wide characteristic — the risk is tied to that one counterparty's continued demand and relationship health, not to broad macro or sector forces. The trend line matters as much as the level: the jump from 48% to 58% shows revenue concentration intensifying year over year rather than diversifying, which raises the stakes of any single negotiating event, contract renewal, or shift in that customer's data-services sourcing strategy. Because this is the only disclosed concentration exposure, it is also the swing factor for the investment case: with size in the HIGH band, a change in this one relationship could move consolidated results materially, and investors should treat customer-retention signals from this account as the single most important concentration-related data point to track. All of the above is disclosed in the most recent 10-K.
For the engine’s reasoning on INOD’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Information Technology Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CACI | CACI International, Inc. | 3 | 1 | 0 | 4 |
| BBAI | BigBear.ai, Inc. | 1 | 1 | 0 | 2 |
| INOD● | Innodata Inc. | 1 | 0 | 0 | 1 |
| ACN | Accenture plc | 0 | 0 | 0 | 0 |
| APLD | Applied Digital Corporation | 0 | 0 | 0 | 0 |
| BR | Broadridge Financial Solutions, | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.