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Team Veye   January 31, 2026

Appen in strong momentum as global turnaround continues

Team Veye   January 31, 2026
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Appen has surged around 71% since Wednesday after the company delivered a strong quarterly update that highlighted accelerated generative AI demand and clear progress in its turnaround strategy.

Appen Ltd (ASX: APX

on 29 January 2026 announced its December 2025 quarter results which showed continued progress in its turnaround strategy as demand for generative AI data services accelerated and the current market capitalisation is $491.38 million.

The company reported Q4 FY25 revenue of US$73.4 million and underlying EBITDA of US$13.3 million which marked its strongest quarterly EBITDA result since 2021 and reflected an improved project mix and better operating leverage.

Growth was driven by generative AI projects which contributed 44.1% of Q4 revenue as Appen supported large language model training and evaluation work for global technology clients.
Appen China was a key highlight as it delivered US$32.0 million in Q4 revenue which was up 81% year-on-year supported by strong demand from Chinese technology companies and rapid expansion in LLM-related projects.

For FY25, group revenue increased by 4.5% to US$230.8 million while underlying EBITDA before FX rose by more than 250% to US$12.2 million which highlights improving margins and tighter cost discipline.

The company ended the quarter with a strong cash balance of US$59.8 million which provides balance sheet flexibility as it continues to invest in platform automation and higher value AI data capabilities.

Operational efficiency remained a focus with the remaining portion of around US$10 million in annualised cost savings executed during Q4 through technology innovation and automation initiatives.

Appen’s share price soared after the results as it closed at $1.08 on 28 January 2026 and rose to $1.85 by 30 January 2026 which reflected improved investor sentiment.
The company will capture growth at a global scale as AI adoption increases and several large generative AI projects secured in late FY25 have continued into FY26.

(Source: Company Announcements)

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