Appen Limited (ASX: APX)
Appen: Anchoring AI’s Backbone with Data Precision
Appen Limited (ASX: APX), a global leader in AI training data since 1996, operates in over 200 countries with a crowd of 1 million+ skilled contributors speaking 500+ languages. Its proprietary platforms Mercury, ADAP, MatrixGo, and CrowdGen enable scalable, high-quality data annotation, supporting sectors from healthcare to autonomous vehicles. In 2024, Appen achieved 16% revenue growth (excluding Google), while its China division grew 71%. The company recorded a return to profitability with $3.5 million underlying EBITDA (before FX), a $23.9 million improvement over FY23. Generative AI contributed 28% of H2 FY24 revenue. Q4 FY24 revenue stood at $66.7 million, and Q1 FY25 revenue reached $50.2 million up 12% year-on-year excluding Google. The cash balance as of 31 March 2025 was $67.9 million.
For FY25, Appen has outlined a six-pillar strategy focusing on LLM-related growth, automation, technical workforce expansion, innovation, data workforce evolution, and cost control. The company has issued revenue guidance of $235 million-$260 million and expects positive underlying EBITDA. Longer-term targets include over 20% revenue CAGR and 10% EBITDA margin by FY27. As AI systems grow in complexity, Appen continues to deliver tailored, high-quality human-annotated datasets, reinforcing its critical role in enabling world-class AI solutions across industries.
BrainChip Holdings Ltd (ASX: BRN)
BrainChip: Engineering the Future of Edge AI
BrainChip Holdings Ltd (ASX: BRN) stands at the forefront of edge AI innovation with its first-to-market neuromorphic processor Akida, mimicking the human brain to process sensor inputs with ultra-low latency and energy efficiency. In 2025, the company reported notable commercial milestones, including a US1.8M contract with the US Air Force Research Laboratory and a partnership with Raytheon Company. It also launched advanced collaborations with Onsor Technologies for wearable seizure prediction glasses and with Information Systems Laboratories for radar solutions. BrainChip further expanded its global impact through the GRAIN SoC project with Frontgrade Gaisler and Sweden’s SNSA. Demonstrations at Embedded World 2025 showcased the Akida 2.0 platform’s gesture recognition capabilities using Prophesee’s event-based camera, emphasizing low power consumption. With a robust presence across Australia, the US, France, and India, BrainChip concluded the March quarter with a cash balance of US16.98M and net operating outflows of US4.1M.
Looking forward, BrainChip aims to solidify its leadership in Edge AI by launching the industry’s first AI hardware accelerator for State-Space Models SSMs and advancing its Akida 3 architecture. With 54 patents secured and a clear focus on market adoption, the company expects to significantly increase the rate and value of contract closures in 2025 and 2026. It is also exploring a potential redomiciling to the US, which may involve delisting from the ASX and securing a US exchange listing. As momentum builds, BrainChip is shaping a future defined by innovation, customer-centric growth, and strategic transformation.
(Source: Company Announcements)
Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.
