Add as a preferred source on GoogleMastech Digital Reports $10.8 Million in Data and AI Bookings
Data and AI revenue rose 4.7% sequentially in the third quarter for a second straight quarter of growth, while total revenue fell 13.4% year over year.
Mastech Digital, Inc. said its Data and AI business recorded $10.8 million in bookings. CEO Nirav Patel described a new “Knowledge-first Enterprise” vision, with the company focusing its positioning on applied AI, modern data and AI governance.
Management pointed to its largest AI deal to date as a sign that clients are putting the company’s solutions into production. Data and AI revenue increased 4.7% from the second quarter, extending the unit’s sequential growth to a second consecutive quarter.
Across the company, revenue declined 13.4% from a year earlier. Management expects a typical fourth-quarter slowdown tied to holidays and contract completions and did not provide guidance.
Mastech reported $37.9 million in cash and no bank debt. It plans significant investment in talent and its Data and AI business. Management described its AI work as sticky and said it believes the business has recurring potential. It also said each audit-platform engagement can make later work faster and more valuable.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.