Added to YB: 2025-06-12
Pitch date: 2025-06-11
APX.AX [bearish]
Appen Limited
+33.33%
current return
Author Info
No bio for this author
Company Info
Appen Limited operates as an AI lifecycle company that provides data sourcing, data annotation, and model evaluation solutions in Australia, the United States, and internationally.
Market Cap
AUD 196.8M
Pitch Price
AUD 1.05
Price Target
0.38 (-46%)
Dividend
N/A
EV/EBITDA
45.54
P/E
-8.50
EV/Sales
0.65
Sector
IT Services
Category
turnaround
Short Idea: Appen (APX-AU)
APX.AX short: Appen's data annotation business faces structural decline: classical annotation (72% rev) down 48% since 2021 as Google/Meta left, GenAI (28%) insufficient to fill gap. Low-quality outsourced crowd can't compete with ScaleAI/Innodata's insourced teams for LLM work. Expect continued cash burn, capital raise by FY27. PT $0.38 (68% downside).
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