Straker Translations Ltd
ASX:STG
Straker Translations Ltd
Straker Translations Ltd. engages in the provision of cloud-enabled translation services. The firm provides RAY Translation Platform, which utilizes a combination of machine translation and a crowd-sourced pool of translators. The company provides deltaRAY that enables customers to order a translation, track progress, assign users, give access to validators, get reports and make payments. The company provides sunRAY, which is a project management platform. Its stingRAY is a translation application program interface (API) that allows customers to build a custom connector to stingRAY. Its xRAY is a data analytics engine for translation services. The company offers ultraRAY, which is a translator workbench that provides software tools for translators. Its hyperRAY is a machine translation engine that assists translators. The company also provides lightRAY, which is a translator management portal. The firm serves e-commerce, technology, medical, education and government industries.
Straker Translations Ltd. engages in the provision of cloud-enabled translation services. The firm provides RAY Translation Platform, which utilizes a combination of machine translation and a crowd-sourced pool of translators. The company provides deltaRAY that enables customers to order a translation, track progress, assign users, give access to validators, get reports and make payments. The company provides sunRAY, which is a project management platform. Its stingRAY is a translation application program interface (API) that allows customers to build a custom connector to stingRAY. Its xRAY is a data analytics engine for translation services. The company offers ultraRAY, which is a translator workbench that provides software tools for translators. Its hyperRAY is a machine translation engine that assists translators. The company also provides lightRAY, which is a translator management portal. The firm serves e-commerce, technology, medical, education and government industries.
IBM Deal: Straker secured a renewed $28 million contract with IBM, serving as a major validation for its AI technology and business model.
Revenue Decline: H1 revenue fell to $19.3 million, down 15% year-on-year, mainly due to softer language services demand and legacy customer attrition.
Margin Resilience: Gross margin remained strong at 66%, reflecting efficiency gains and AI tooling integration, despite lower revenue.
Profitability: Adjusted EBITDA was $0.5 million and the statutory net loss improved by 76% to $1.3 million, highlighting cost control.
Cash Position: The company ended the half with $8.7 million in cash and no debt, providing financial flexibility.
AI Pivot: Straker is executing a strategic transition from legacy translation services to an AI-driven, high-margin, scalable model.
Guidance Reaffirmed: Management reiterated full year revenue guidance of $38 million to $41 million and positive adjusted EBITDA.
SwiftBridge Timing: Material revenue from SwiftBridge tied to regulatory deadlines in Japan is now expected closer to April 2026.
