APX.ASX: Q2 FY26 Quarterly Activity Report and Appendix 4C

Q2 FY26 Quarterly Activity Report and Appendix 4C

Stock	Appen Ltd (APX.ASX)
Release Time	29 Jul 2026, 9:13 a.m.
Price Sensitive	Yes

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Appen Ltd Q2 FY26 Quarterly Activity Report

Key Points

Revenue of $65.1 million, +26% vs prior corresponding period
Underlying EBITDA of $4.4 million, a $5.0 million improvement vs pcp
Strong performance from Appen China, with annualized run-rate exceeding $175 million
Appen Global revenue up 20% vs Q1 FY26
Cash balance at 30 June 2026: $44.7 million

Full Summary

Appen Ltd, a global leader in AI data, released its Q2 FY26 quarterly activity report. The company reported a revenue of $65.1 million, marking a 26% increase from the prior corresponding period. Underlying EBITDA improved by $5.0 million to $4.4 million. Appen China showed exceptional performance with a 75% revenue increase, reaching an annualized run-rate of over $175 million. Appen Global also saw a 20% revenue growth compared to Q1 FY26. The company maintained a strong cash balance of $44.7 million at the end of June 2026, reflecting tight cost controls and ongoing investments in AI capabilities.

Guidance

FY26 revenue guidance of $270 - $300 million; Underlying EBITDA margin of ~5-10%

Outlook

Appen remains confident in the AI data market and expects to contribute significantly to the development of leading foundation models. The company sees positive signals for LLM-related growth and continues to focus on cost management.