Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Appen ( (AU:APX) ) just unveiled an announcement.
Appen Limited reported a statutory loss of $20.0 million for FY24, showing a significant improvement from the previous year, and returned to a positive underlying EBITDA of $3.5 million. Despite a 14.2% decline in total operating revenue due to the conclusion of a contract with Google, non-Google revenue grew by 16%, with notable growth in China and the Global Product business. The company raised A$65 million to support working capital and decided not to declare dividends to focus on transformation efforts. Appen also reduced its cost base by $13.5 million following Google’s exit, continuing its business reset and operational progress.
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 is a global leader in data for the AI lifecycle, specializing in data sourcing, annotation, and model evaluation. With over 28 years of experience, Appen supports organizations in launching innovative AI systems, leveraging a global crowd of over 1 million skilled contractors across 200 countries and an advanced AI data platform. The company serves various sectors, including technology, automotive, financial services, retail, healthcare, and government.
Average Trading Volume: 11,800,144
Technical Sentiment Signal: Sell
Current Market Cap: A$293.3M
See more insights into APX stock on TipRanks’ Stock Analysis page.