Appen (ASX:APX) reported revenue of $50.2 million in the quarter ending March 31, down 14% from $58.4 million in the same period last year, according to a Wednesday filing with the Australian bourse.
The revenue for the first quarter last year included $13.4 million from Google, which was not reflected in the current quarter. Excluding revenue from Google, revenue rose 12% from $45 million in Q1 2024.
The underlying earnings before interest, taxes, depreciation, and amortization for the quarter reached $1.5 million compared with a $2.9 million loss on the same period last year, the filing said.
As of March 31, cash on hand stood at $67.9 million, up from $54.8 million in the December 2024 quarter, according to the filing.
Shares fell 4% in afternoon trade on Wednesday.
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