Ann: Customer update and FY23 preliminary results, page-208

Its a muppet factory of non holders.
$83m with 26% gross margin was a break even contract at best.

I have read some analysts alluding to that Google was providing 25% of Appens Gross Profit .. like are these guys for real?

$17m is left over after crowd costs alone at a time when Appen is spending $40m per annum on product development to keep the Fat Pigs pleased.

Appen made a $4.2m EBITDA loss 2H FY23 with roughly the same revenue in 1H FY23 but recorded an EBITDA loss of $15.4m 2H. That is essentially a $11m EBITDA improvement without Big tech.

Costs too much having these Fat pigs as customers. If they cant give the high margin business then they are worthless to Appen.



Good Riddance and Finally........

Look at these idiots - completely clueless.

Appen's loss of its contract with major client Google is seen by Morgan Stanley analysts as confirmation of their negative thesis on the Australian data-annotation provider. They tell clients in a note that they had already forecast that Appen's crowdsourced annotation model was becoming less valuable to its traditional clients, many of whom are creating more sophisticated platforms that are less reliant on human input. They estimate Google accounted for about 25% of Appen's FY 2023 gross profit and wonder whether the company, which has lost 99% of its value since August 2020, has a terminal valuation. MS reiterates its underweight rating on the stock, which is up 5.5% at A$0.29. ([email protected])


lol......These guys actually get paid to feed the lazy muppets you know.