Appen Ltd (FRA:433)

€ 1.722 0.123 (7.69%) Market Cap: 441.70 Mil Enterprise Value: 419.08 Mil PE Ratio: 0 PB Ratio: 4.75 GF Score: 42/100

Half Year 2024 Appen Ltd Earnings Call Transcript

Aug 30, 2024 / 01:00AM GMT

Release Date Price: €0.5935 (-17.45%)

Transcript

Ryan Kolln

Appen Ltd - Chief Executive Officer, Managing Director, Director

Thank you very much, Rachelle, and good morning, everyone. Welcome to Appen's H1 FY24 results presentation. Today, I'm joined by our CFO, Justin Miles. There are four sections to the presentation as per the agenda on page 3.

Firstly, I'll share an overview of our H1 performance. Second, Justin will provide greater detail in the financial performance for the half. Third, I'll share an update on how we are tracking against our strategy; and finally, we will provide an update on July trading and discuss our FY24 outlook.

Moving to page 5 in the presentation. Including the impact of the Google contract loss, we're very pleased that Appen is returning to revenue growth. In Q2, revenue grew 16% compared to the same period in FY23 and was up 22% on Q1 this year.

For the half, H1 revenue was up 13% on H2 last year if we exclude Google. H2 revenue has historically been higher than H1,much of the growth has been supported by new generative AI-related projects, especially from our global and China customers. We

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