By Stuart Condie
SYDNEY--Appen shares gave back more of their strong recent gains, slumping more than 25% after the AI-training company said work volumes had dropped at the start of its fiscal year.
The Australia-listed company on Wednesday reported a smaller-than-expected annual net loss of US$20.0 million. The average analyst forecast had been for a net loss of US$25.2 million, or US$21.5 million on an underlying basis, according to data compiled by Visible Alpha.
Appen said it remained confident in its 2025 outlook, but said volumes since Jan. 1 have been lower than in the December quarter. It blamed delays from annual planning by its major customers.
After about 90 minutes of trade on Wednesday, the stock was 26% lower at 2.13 Australian dollars, or about US$1.35. The decline extended its recent pullback from a near two-year high.
The stock rose almost 12 times in value after touching a record-low A$0.26 in February 2024, surging to A$3.11 last month as the company rebuilt revenues following the loss of a major contract with Google.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
February 25, 2025 19:34 ET (00:34 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。