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Appen Ltd. ( (AU:APX) ) has shared an update.
Appen Limited announced its Q4 FY24 results, highlighting significant revenue growth excluding Google, driven by generative AI projects, and a strong quarter-on-quarter performance. The company achieved an underlying cash EBITDA profit of $3.2 million, marking a $2.6 million improvement compared to the previous corresponding period. With a healthy cash balance of $54.8 million, Appen continues to focus on profitable growth following the completion of cost-out programs. The company’s CEO emphasized the transformative year and the strengthened business positioning for sustained growth, particularly noting LLM-related growth and revenue gains in China.
More about Appen Ltd.
Appen Limited is an Australian company operating in the technology and data services sector, specializing in providing training data used for machine learning and artificial intelligence. The company focuses on enhancing AI systems and has a significant presence in the enterprise and government divisions, with notable growth in the Chinese market.
YTD Price Performance: -5.86%
Average Trading Volume: 2,013
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $398.1M
For a thorough assessment of APX stock, go to TipRanks’ Stock Analysis page.
