Revenue Growth
Appen recorded revenue of USD 102.1 million, representing a 2% year-on-year growth when excluding the impact of Google. 24% of this revenue was from generative AI-related projects.
China Market Success
Revenue in China grew 67% year-on-year, with an annualized run rate revenue exceeding $100 million, highlighting strong momentum in the region.
Cost Efficiency Initiatives
Appen identified approximately $10 million in annualized cost efficiencies, with 70% to be realized by the end of Q3 FY '25.
Positive EBITDA Contribution from China
China contributed $2.9 million to underlying EBITDA, a $2.8 million improvement compared to H1 FY '24.
Strong Cash Position
Appen ended the half with a cash position of USD 60.9 million or AUD 92.9 million.