Appen has reported a strong fourth quarter, with revenue reaching $73.4 million. This represents a 10 per cent increase compared to the prior corresponding period and a 33 per cent rise from the previous quarter. The growth was primarily fuelled by strong performance in both its China and global business segments. Appen provides data for companies to build and improve artificial intelligence systems. The company focuses on sourcing and preparing the high-quality, human-annotated data that AI models need to function effectively.
Underlying EBITDA before foreign exchange impacts saw a substantial increase, jumping 182 per cent year-on-year to $13.3 million. This improvement reflects the successful implementation of cost efficiencies and the expansion of generative AI projects. Appen China delivered impressive results, with quarterly revenue of $32 million, marking an 81 per cent increase compared to the previous year. The annualised run-rate for Appen China now exceeds $135 million, with underlying EBITDA of $4.3 million.
Appen Global also experienced significant growth, with revenue rising 56 per cent from the prior quarter to $41.4 million. This increase was largely driven by new generative AI projects, which contributed to a quarterly underlying EBITDA of $10.2 million. The company finished the quarter with a robust cash position of $59.8 million.
Appen has successfully executed $10 million in annualised cost efficiencies. The company is now strategically positioned for continued global expansion in the dynamic field of AI data services.
