Appen (ASX:APX) forecasts that by the end of Fiscal Year 2023 (FY23), it will achieve an annual operating cost base lower than $113 million.

The firm now anticipates its revenue for the second half of FY23 to align more closely with its revenue from the first half.

Appen’s primary aim is to wrap up FY23 with a resurgence in underlying EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and cash EBITDA profitability.

Appen is a global leader in the development of high-quality, human-annotated datasets for machine learning and artificial intelligence.