Time to average down ?, page-149

Not long to go until we get some fresh news - company is aware the business is de concentrated and de risked and really no excuses for a more appropriate pcp figure.

1H23 we got US$139m revenue - $39m of which came from New markets. $42m of the remainder $100m was from Google.

First four months company generated $75m revenue with $15-17m per month run rate.

So potentially will come in at $105-110m revenue 1H24 which will be lower than 1H24 but no microtask services in that revenue figure just raw AI data for model builders and new revenue gains from AI adopters using the Appen platform.

Need to see momentum in Gen Ai revenue that jumped 410% in 2H23.

If company has visibility for $17.5m per month revenue for rest of year then it will depend on margins and should be on the improve with $73m of costs taken out of the business.

Time will tell all but still two months to go until we get some meat and bones into business performance.