Appen Valuation Multiples

Appen Overview

About Appen

Appen Ltd is engaged in the provision of quality data solutions and services for machine learning and artificial intelligence applications for technology companies, auto manufacturers, government agencies among others. The company's business segments are Appen Global and Appen China. It generates maximum revenue from the Appen Global segment which represents all operations outside of the China Group. The Appen China segment represents the China Group operations and includes Japan and Korea. Geographically, it derives a majority of its revenue from the United States of America, and has its presence in China, Australia and Others.

Founded

2009

HQ

Employees

1.2K

Website

appen.com

Sectors

Business ConsultingBI & Analytics SoftwareMarket ResearchPure-Play AI SoftwareArtificial IntelligenceB2B SaaSHorizontal SaaSDeepTechGenerative AI

Financials (LTM)

Revenue: $243M

EBITDA: $15M

EV

$270M

Valuation Multiples

Multiples.vc

Start free trial

Appen Financials

Appen reported last 12-month revenue of $243M and EBITDA of $15M.

In the same LTM period, Appen generated $94M in gross profit, $15M in EBITDA, and had net loss of ($18M).

Appen P&L

In the most recent fiscal year, Appen reported revenue of $231M and EBITDA of $13M.

Appen expects next 12-month revenue of XXX and NTM EBITDA of XXX

Appen Stock Performance

Appen has current market cap of $318M, and enterprise value of $270M.

Appen's stock price is $1.20.

Appen Valuation Multiples

Appen trades at 1.1x EV/Revenue multiple, and 18.0x EV/EBITDA.

Appen Financial Valuation Multiples

As of April 1, 2026, Appen has market cap of $318M and EV of $270M.

Equity research analysts estimate Appen's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Appen has a P/E ratio of (18.0x).

Appen Margins & Growth Rates

Appen's revenue in the last 12 month grew by 20%.

Appen's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.2M for the same period.

Appen's rule of 40 is 28% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Appen's rule of X is 59% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Appen Public Comps

See public comps and valuation multiples for other Business Consulting and BI & Analytics Software comps.

Appen M&A Activity

Appen acquired XXX companies to date.

Last acquisition by Appen was on XXXXXXXX, XXXXX. Appen acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Appen Investment Activity

Appen invested in XXX companies to date.

Appen made its latest investment on XXXXXXXX, XXXXX. Appen invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).