Appen (ASX: APX) – a leader in AI search and ad relevance
COMPANY SCOREBOARD
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ABOUT COMPANY
Appen Limited (APX) (https://appen.com/) is a global leader in search and ad relevance. The company also has a strong global presence in voice interface. In China, it has established a leadership position in AV and has fast become an emerging AV player in the rest of the world.
The company is the leading provider in three out of the four essential steps of the AI lifecycle: Data Sourcing, Data Preparation, and Model evaluation by humans.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| APX | 0.655 | 223001643 | 146066076.165 | 34/0 |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 30174 | 43.68% | 52.13% | 0.34% | 11628243 | last raise $30m@55c, pre raise $60m@1.85 |
BUSINESS
Below is the company’s past five years performance:
| APX | 2023 | 2022 | 2021 | 2020 | 2019 |
| Operation Revenue | 273012 | 388133 | 447154 | ||
| Cost of Sale | -168099 | -237712 | -268378 | ||
| Gross Revenue | 104913 | 150421 | 178776 | 0 | 0 |
| Gross Margin | 0.3843 | 0.3876 | 0.3998 | 0 | 0 |
| Overheads | -132537 | -142945 | -106611 | ||
| Fixed Overheads | |||||
| Variable Overheads | |||||
| Total Operation Expense | -132537 | -142945 | -106611 | 0 | 0 |
| Operation Profit | -27624 | 7476 | 72165 | 0 | 0 |
| Other Revenue | -61321 | -205440 | -1469 | ||
| Interest Expense | -1176 | -813 | -1362 | ||
| D&A | -35147 | -41582 | -35038 | ||
| Income Tax | 6870 | 0 | -7356 | ||
| Net Profit | -118398 | -240359 | 26940 | 0 | 0 |
| NOTES | $69m Impairment | Impairment on New Markets CGU $204m |
The company runs a cost base of $100m for FY24.
SUMMARY
It is required to examine the company’s relevance in the new AI era.