An update from Appen Ltd. ( (AU:APX) ) is now available.
Appen Limited reported a transformative year in FY24, with a return to revenue growth driven by generative AI projects, despite a 14.2% decrease in group operating revenue due to the termination of the Google contract. The company achieved a cash EBITDA profitability objective and saw significant growth in its China and Global Product divisions. Appen’s CEO highlighted the importance of generative AI as a paradigm shift and emphasized the company’s role in providing critical data for AI advancements. The company remains focused on profitability and managing investments in its Enterprise & Government divisions proportionately to existing volumes and near-term opportunities.
More about Appen Ltd.
Appen Limited is a company operating in the artificial intelligence industry, focusing on providing high-quality data essential for AI development. The company is involved in generative AI projects and has a significant market presence in China and global product divisions.
YTD Price Performance: 13.31%
Average Trading Volume: 2,343
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $477.2M
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