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Key points:
Strategic shift from legacy human services to AI-native SaaS and encodersLexi text SaaS growth and expansion into education, government and global marketsConcentrated but sticky North American broadcast customer baseEmerging Lexi Voice and audio description products targeting medium-term growth
Tony Abrahams, the co-founder & CEO, AI-Media Technologies outlines a deliberate transformation toward an AI-native, technology-led model, despite a 7% decline in total revenue to $60 million. Technology revenue now represents 74% of the business, with services at 26%, as the company exits legacy “human-in-the-loop” captioning. Abrahams states that AI-Media sits on almost $16 million in cash, remains cash flow positive, and has completed a major 10-year upgrade cycle for its encoder platform, resolving 37 security flaws and paving the way for new hardware shipments this half.
Abrahams highlights the Lexi software suite as the core growth engine, with Lexi text revenue reportedly up 42% year on year to $34.1 million. He stresses the shift from hardware-only to hybrid hardware–software solutions, including Lexi Direct, which embeds directly into third-party broadcast systems such as Grass Valley’s AMP, and targets education and government as new verticals. North American broadcast provides 55% of revenue, and Abrahams points to no churn in the top 20 customers over five years.
New products such as Lexi Voice, recorded media automation and audio description are, in his view, the next growth leg, with commercial scale-up more likely in FY28–FY29 rather than FY27. Customers mentioned include Channel Nine (ASX:NEC) and Seven (ASX:SWM).
