10 Best Debt-Free IT Stocks to Buy Now

7. Innodata Inc. (NASDAQ:INOD)

EV-to-Market Cap Ratio: 0.97

Stock Upside Potential: -7.41%

Number of Hedge Fund Holders: 20

Innodata Inc. (NASDAQ:INOD) is one of the best debt-free IT stocks to buy now. On May 7, Innodata Inc. (NASDAQ:INOD) posted another record-setting first-quarter results, characterized by robust revenue growth, affirming that its strategic positioning is increasingly translating into scale-driven margin expansion and cash generation.

Revenue in the quarter was up 54% year over year to $90.1 million, while Adjusted EBITDA nearly doubled to $25 million, up from $12.7 million for the same period last year. Net income in the quarter totaled $14.9 million, or $0.46 a share, nearly double the $7.8 million, or $0.25 a share, delivered in the same quarter last year.

Following the impressive first quarter, Innodata has raised its full-year 2026 revenue growth guidance to about 40% from the previous expected growth of 35%. The revenue growth would come on the back of engagements with some of the world’s leading  big tech companies, expected to generate $51 million in revenue.

In addition, Innodata continues to innovate at a rapid pace, having launched the Evaluation and Observability Platform in beta.

Innodata Inc. (NASDAQ:INOD) is a global data engineering company that builds, trains, and evaluates artificial intelligence systems. Operating at the core of IT, they provide the essential “picks and shovels” needed to make Large Language Models (LLMs) and Agentic AI work factually, safely, and accurately for major technology and enterprise clients.