Should be better on cash burning side of things with $60m taken out of the business.
Google was a low margin business with endless pay disputes and staff cost to keep big tech happy. Appen had no earnings quality nor revenue visibility with Big Tech now with them out of the way it has an opportunity to improve with China, Korea, Japan and Enterprise and Euro car manufacturers.
When Michael Kratsios joined Scale A.I as Executive Director he is also the third highest ranking official at the Department of Defense mid 2021 - Appen has little hope in the A.I market with Big tech due to "National Security" as Appen also conducts business in China.
Just needs to repriorise business objectives. Take costs out and focus on Enterprise where my investment thesis is coming along nicely.......we just have a tricky 12 months to negotiate.
APX Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held
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