AI company Appen see impressive revenue growth

Company News

by Rachael Jones

Appen (ASX:APX) says its half-year statutory profit rose 33 per cent to $18.6 million with revenue up 60 per cent to $245.1 million.

Appen is a global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence.

Appen’s Chief Executive Officer, Mark Brayan, said that Appen continues into the high-growth AI data market, with its market-leading combination of technology and its global crowd.

Speech and image data grew by 85 per cent on the first half of last year, relevance revenue by 48 per cent, and underlying EBITDA margins expanded from 16.8 per cent to 18.9 per cent.

Shares in Appen (ASX:APX) are trading 11.87 per cent lower at $24.12.