Ann: Appen 2017 Full Year Results, page-2

ASX ANNOUNCEMENT
21
st
February 2018
APPEN ANNOUNCES CONTINUING HIGH GROWTH FULL YEAR 2017 RESULTS
Appen Limited (“Appen”) (ASX:APX) a global leader in the development of high-quality,
human annotated datasets for machine learning and artificial intelligence, has today
announced its Full Year results for the year ended 31
st
December 2017.
• Total revenue of $166.6M up 50%1
or 55% in constant currency2
• Underlying EBITDA of $28.1M up 62%, statutory EBITDA of $22.2M up 29%
3
• Underlying NPAT of $19.7M up 86%, statutory NPAT of $14.3M up 36%4
• Underlying EBITDA margin improvement from 15.6% in 2016 to 16.9% in 2017
• Strong cash conversion (75% of EBITDA)5
• Full year underlying EBITDA for the financial year 2018, ending December 31st
2018, is currently forecast in the range of $50M - $55M (at A$1 = US$0.80)
Revenue rose 50% to $166.6M, underlying earnings before interest, tax, depreciation and
amortisation (EBITDA) increased 62% to $28.1M and underlying net profit after tax (NPAT)
increased 86% to $19.7M in the full year to 31 December 2017.
Chief Executive Officer Mark Brayan said that the high growth of revenue and EBITDA
benefitted from new customer acquisition, projects in multiple data formats such as text,
audio, image and video and secure annotation work.
“In addition to new customer wins, we are seeing a richer variety of work in many data
formats that add to our foundation speech and search projects,” Mr Brayan said.