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Appen ( (AU:APX) ) has issued an announcement.
Appen Limited reported a revenue of $51.9 million for Q2 FY25, a 6% decrease compared to the previous corresponding period, but a 3% increase from Q1 FY25. The company saw significant growth in its China business, with a 77% increase in revenue compared to the previous year, achieving an annualized revenue run-rate exceeding $100 million. However, this growth was offset by volatility in the US AI market. Appen is implementing a technology innovation and automation strategy to achieve cost efficiencies, with $10 million in annualized savings identified. The company maintains a strong cash balance and is tracking towards the low end of its FY25 revenue guidance range of $235 million to $260 million.
The most recent analyst rating on (AU:APX) stock is a Buy with a A$0.80 price target. To see the full list of analyst forecasts on Appen stock, see the AU:APX Stock Forecast page.
More about Appen
Appen Limited is a global leader in providing data for the Artificial Intelligence (AI) lifecycle. The company focuses on delivering trusted and scalable data solutions, positioning itself as a key player in shaping the next generation of AI development.
Average Trading Volume: 9,455,071
Technical Sentiment Signal: Sell
Current Market Cap: A$307.3M
For a thorough assessment of APX stock, go to TipRanks’ Stock Analysis page.