Potential is amazing - a company that generates $20m revenue per month in an industry that hasn't taken off yet Appen is in a good long term position if it can hold out the current dark ages.
We want to see gross profit improvements and signs are beginning to appear.
There is an EGM first qtr of 2024 possibly around when FY23 results are announced to revise LTI.
But need that revenue to stabilise and that $20m revenue per month to turn into $5-7m gross profit per month instead of a $1-2m loss. Appen has historically had ~60% COGS... revenue has declined significantly but it's still pretty good. But it needs to stabilise first.
Ann: Trading update and fully underwritten A$30m equity raising, page-48
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