I've been a holder since just after listing, met management many many times. Sold out most of my holding in 2020. Still hold a negligible parcel as it does have a place in my heart (my first 50-bagger!) and so that management take me seriously as a shareholder.
I don't rate the CEO because he drove the Figure8 acquisition which was a circa $400m hit to the balance sheet. Overpaid for that business which ended up being a 0. I don't trust jack out of his mouth.
I haven't modelled it in years but I remember Q3s being the weakest as it represented EOFY for the US but Q4s were always the strongest as you got commit.
Honestly, I'm challenged on how APX benefits from the AI trade and can benefit from it consistently. The best thing I can think of is that when the next Nvidia semis come out (GB/B200 then GB/B300) as LLM companies will need to push through on model training and demand more services from Appen.
I don't think Appen is a growth company and more a cyclical instead now...
APX Price at posting:
$1.25 Sentiment: None Disclosure: Held
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