Appen Ltd. ( (APPEF) ) has released its Q4 earnings. Here is a breakdown of the information Appen Ltd. presented to its investors.
Appen Ltd. is a global leader in data services, specializing in deep learning and generative AI, providing high-quality data for AI model training and deployment across various industries. In its 2024 earnings report, Appen highlighted a year of significant transformation and growth, particularly in the generative AI sector. Despite a 14.2% decline in total revenue to $234.3 million due to the loss of a major contract with Google, the company saw a 16% increase in non-Google revenue and a notable 70.7% growth in China. Appen’s underlying EBITDA improved to $3.5 million from a previous loss, reflecting successful cost management and strategic shifts. The company also raised approximately A$65 million to support working capital and ended the year with a strong cash position. Looking forward, Appen aims to capitalize on the generative AI market, focusing on delivering high-quality data and maintaining financial discipline to drive sustainable growth.