APX 2.23% $2.75 appen limited

Ann: Customer update and FY23 preliminary results, page-251

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  1. 11,082 Posts.
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    Meta and Google are gone.
    Anything related to relevance and Big tech is gone - Meta and Google where the two big customers.

    From 2020 onwards they were slowly bleeding the business.

    Others like Salesforce, Oracle, Microsoft are long term project based customers not service based.

    As far as I am aware Appen still does some work for them but on a project to project basis mainly in Gen A.I like Fine Tuning and Assurance because no one is offering that service unless you build teams for them.

    Multi Modal builders like Meta and Google should now be seen as competitors once Reka completes their multi modal product. It has occured faster than I would have liked but Appen offering A.I products to Enterprise is more measurable and beneficial for the long term health of the company. Sure it has a tricky 12 months to negotiate but I think people are a little misguided on the ability of the company to close large deals
 
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