Appen
Listed data company that collects and labels AI training data, with a fast-growing China business.
- Revenue
- Group revenue A$119.9M in the half year to June 2026 (ASX filing)
- Growth
- Group revenue up 17%. Appen China up about 80% to A$76.2M on generative AI projects (ASX filing)
- Based in
- Sydney, Australia
- Listed
- Public (APX)
Its China arm reached an annualised run rate above $175M in June 2026, and FY26 revenue guidance is $270M to $300M.
Its legacy Appen Global business fell 26.9% in the same half.
Money coming in
Who pays Appen, and for what.
No customers of Appen mapped yet.
Money going out
Who Appen pays to do what it does.
No suppliers of Appen mapped yet.
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Competitors and neighbours
Pays vetted experts to write, grade and check the training data that AI labs buy.
About $2B gross annualised run rate in June 2026, reported by The Information. Gross means before contractor pay, which Sacra says is 60 to 70 percent of it
Open profileLabels and grades training data and runs human evaluations for AI labs and big companies.
Meta paid $14.3B for 49%
Open profileSupplies high-end human data to AI labs, and was profitable before its first outside raise.
About $1.2B in 2024 (Sacra estimate)
Open profileA student and graduate jobs network that now supplies expert contractors to train AI models.
About $1.1B annualised gross revenue in April 2026 (Sacra estimate). Net revenue about $450M after contractor pay
Open profileRuns human feedback and training data operations for frontier labs and large enterprises.
$134M in 2024, company figure reported by Sacra
Open profileSells data labelling software and a data service for building AI training sets.
About $50M in 2024 (Latka estimate)
Open profileSupplies vetted domain experts, such as PhDs and senior engineers, to AI labs for training data.
More than $100M annual recurring revenue by December 2025 (TechCrunch). Sacra estimates about $500M annualised in August 2026 (estimate)
Open profileBuilds finished training datasets and simulated environments for AI labs, enterprises and the US government.
Annualised run rate above $350M, company figure in September 2026. Implicator reports $375M
Open profileSupplies coding and engineering experts who train, test and check AI models for labs.
About $300M annual recurring revenue at its March 2025 round (TechCrunch)
Open profileSources: announcements.asx.com.au
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