Taiwan's Appier Achieves Record Results with Agentic AI – E-Commerce and Travel 'Dual Engines' Drive ¥43.7B Revenue

Appier Posts Record Revenue and Profit for FY2025

Appier Delivers Record Results Driven by Agentic AI Innovation

Appier Delivers Record Results Driven by Agentic AI Innovation

On February 13, 2026, Taiwan-based AI marketing company Appier (TSE: 4180) announced its full-year results for the fiscal year ending December 2025. Revenue grew 28% year-over-year to ¥43.7 billion (¥45.0 billion on a constant currency basis, 32% growth), setting a new record. Operating profit also reached ¥3.0 billion (6.8% operating margin), a 50% year-over-year increase, demonstrating significant profitability improvement.

Q4 was particularly notable, with revenue growth accelerating to 34% — the highest growth rate in the past nine quarters. This result came from successfully capturing demand during the e-commerce peak season. CEO and co-founder Chih-Han Yu stated in the official announcement, "2025 was a defining year for Appier's evolution as a global leader in 'Agentic AI as a Service (AaaS).'"

Industry Trends

Appier was founded in Taiwan in 2012 as an AI-native company. It was born out of discussions about AI's potential while founder Yu was pursuing his PhD in Computer Science at Harvard University. After initially attempting to enter the gaming industry and experiencing eight failures, the company pivoted to digital marketing. It went public on the Tokyo Stock Exchange in 2021 and is known as Taiwan's first AI unicorn.

Currently operating from 17 offices across APAC, the U.S., and EMEA, the company offers three solutions: Ad Cloud, Personalization Cloud, and Data Cloud. Revenue has grown sixfold over the six years since FY2019, maintaining a consistent upward growth trajectory.

Behind this growth is the rapid penetration of agentic AI into the e-commerce and marketing domains. According to Mordor Intelligence, the agentic AI market in retail and e-commerce is projected to expand from $46.7 billion in 2025 to $60.4 billion in 2026. The accelerating shift from manual marketing workflows to AI-autonomous operations is a wave that Appier has been riding.

Inside the "Dual Growth Engines" of E-Commerce and Travel

The most notable aspect of these results is the growth structure called the "Dual Engine."

The e-commerce business grew 49% year-over-year. Of the revenue increase, 56% came from ROI-linked upselling to existing e-commerce clients, where the high return on investment generated by AI drives customer retention and additional investment. The remaining 44% came from new customers, primarily in online travel, with the "Other Internet Services" segment recording 59% rapid growth.

By region, Northeast Asia (NEA) accounted for 68% of revenue, growing 36% on a constant currency basis. The U.S. and EMEA (19% of revenue) also achieved 36% growth. All major regions showed solid growth, with no excessive dependence on any single market.

The customer base expanded 13% year-over-year, and average revenue per customer (ARPC) also increased 13% on a constant currency basis. Furthermore, gross profit per employee increased 23% year-over-year, demonstrating that AI-driven operational efficiency is progressing at the organizational level.

Technical Advantages of the Agentic AI Platform

The source of Appier's competitive strength lies in the combination of "proprietary data" and "industry-specific AI models." The differentiating factor is not just marketing automation tools, but the ability to build "domain-specific agents" that adapt to each customer's workflow.

The company's Agentic AI platform features proprietary LLM calibration (large language model tuning technology) and "Self-Aware Reasoning." These enable AI agents to autonomously correct their decisions while balancing enterprise-level reliability with cost efficiency. The company positions this as the foundation for "Trustworthy AI," ensuring quality that can withstand large-scale production environments.

In February 2025, the company also acquired French AI ad creative company AdCreative.ai for approximately $38.7 million. By integrating this platform used by global brands like Snapchat and Pernod Ricard, the company has built a system that covers the entire advertising lifecycle with AI, from creative generation to performance optimization.

Impact on E-Commerce Brands and How to Act

Appier's strong results contain several important implications for e-commerce brands.

First, "AI agent-driven ROI optimization" has moved beyond the proof-of-concept stage and is now manifesting as actual business results. The fact that Appier's existing e-commerce clients continue to increase their investment is evidence that AI marketing reliably generates returns.

Second, "migration from legacy software" is gaining momentum as an industry trend. CEO Yu explicitly stated that they are "replacing traditional software and manual processes with autonomous AI-driven execution engines," indicating an acceleration in the generational shift of marketing tools.

As an action item for e-commerce brands, consider developing a migration plan for your current marketing stack (ad delivery, personalization, data analytics) toward solutions where AI agents can autonomously optimize. "AaaS"-type services like Appier's can be adopted in three tiers — Ad Cloud (advertising optimization), Personalization Cloud (customer experience individualization), and Data Cloud (data integration and analytics) — supporting phased migration.

Summary

Appier has provided FY2026 revenue guidance of ¥54.0 billion (24% YoY growth), with operating profit of ¥4.3 billion (45% growth) and EBITDA of ¥9.4 billion (37% growth). Gross margin is forecast to further improve to 54.5%, with continued technology-driven efficiency gains and margin expansion. According to TipRanks, the latest analyst rating is "Buy" with a price target of ¥1,124.

Marketing automation and optimization powered by agentic AI is no longer a future prospect — as Appier's results demonstrate, it is already producing tangible outcomes. For e-commerce brands, the key areas to watch are how far the company will develop "multi-agent intelligence" into concrete e-commerce products in FY2026, and whether further penetration beyond the Asia-Pacific region into Western markets will materialize.