Done research For AIM:
> Question: Is there businesses listed on the asx that do similar media transcription services? List 4 businesses? Compare List the revenue and profit for each company. What is AIM competitive advantage vs similar business? Does AIM have competitive moat?
>> Answer: Short answer up front: there are very few ASX-listed pure-play captioning/subtitling businesses — Ai-Media (ASX: AIM) is the clear listed specialist. The closest ASX peers that offer adjacent or overlapping speech / transcription / voice-analytics services are Appen (APX), Nuix (NXL) and Bigtincan (BTH).
*Below I list each, give the latest reported revenue & profit (FY numbers) with sources,
*Compare AIM’s competitive advantages and whether it has a moat.
ASX-listed companies doing similar / adjacent work (4 companies)
1) Ai-Media Technologies Ltd — AIM (the company you described)
FY2025 revenue: A$64.86m; FY2025 net loss: A$1.67m (loss widened slightly vs prior year).
MarketScreener:
Notes: AIM is a global captioning/transcription/translation specialist and has been shifting from people-led services to higher-margin technology (Lexi toolkit, on-prem LEXI DR device, LEXI Recorded).
investorrelations.ai-media.tv
2) Appen Limited — APX
FY2024 revenue: ~A$234m (Group annual revenue around A$234m for year ended 31 Dec 2024); FY2024 statutory result: ~A$20m net loss (Appen narrowed losses in FY24). Appen is a large data / annotation / language-services company that also provides speech/transcription and audio data services used to train models and build speech solutions.
StockAnalysis
3) Nuix Limited — NXL
FY2024 statutory revenue: A$220.6m; FY2024 profit for the year: A$5.03m (profit after tax). Nuix is an investigative/ediscovery software company that includes audio transcription / voice analytics integrations (Nuix Voice / partnerships) so it offers speech-to-text capabilities as part of a broader enterprise product set.
nuix.com
4) Bigtincan Holdings Ltd — BTH
FY2024 revenue: ~A$116.7m (statutory FY24) (and trailing-12m figures consistent with ~A$108–117m range); FY results show the business operating as a SaaS sales-enablement vendor that has added voice/voice-analytics capability (acquired VoiceVibes) — i.e., voice analytics/transcription is an adjacent capability applied to sales coaching and contact workflows rather than broadcast captioning.
aspecthuntley.com.au
Quick takeaway on the four: AIM is the only ASX company that is a pure-play captioning/transcription/subtitling provider. The others are larger software / AI-data vendors where transcription/voice analytics is an important but adjacent product within a broader suite.
Comparison (revenue & profit snapshot — latest reported FY)
Ai-Media (AIM) — Revenue A$64.9m (FY25); Net loss A$1.67m.
MarketScreener
Appen (APX) — Revenue ~A$234m (FY24); Net loss ~A$20m (FY24 statutory).
StockAnalysis
Nuix (NXL) — Revenue A$220.6m (FY24); Profit A$5.03m (FY24).
nuix.com
Bigtincan (BTH) — Revenue ~A$116.7m (FY24); profit/loss varies by year (see FY results). Bigtincan’s voice capability is via acquisitions (VoiceVibes) and is focused on sales enablement use cases.
aspecthuntley.com.au
AIM’s competitive advantages vs the peers (short, evidence-based)
Pure-play product focus and industry reputation (captioning & accessibility).
AIM’s core business is captioning/transcription/subtitles and accessibility for broadcast, education, events and corporate customers — it is known in that niche (and has global customers). This is different to Appen (data services), Nuix (ediscovery) and Bigtincan (sales enablement).
investorrelations.ai-media.tv
Proprietary product suite — LEXI toolkit (Live + Recorded) + hardware DR (LEXI Disaster Recovery).
AIM has invested in the Lexi AI captioning toolkit (recorded and live offerings) and launched LEXI Disaster Recovery (on-prem failover device) and LEXI Recorded — products that directly address reliability and speed for captioning customers. That product set creates technical differentiation vs general transcription providers.
investorrelations.ai-media.tv
Customer & channel footprint in broadcast / education / events (recurring contracts).
AIM’s customers value low latency, regulatory compliance and accuracy for live broadcasts — that creates recurring revenue opportunities and long sales cycles which help retention. The company has highlighted growing technology revenue and improving gross margins as it transitions from people-based services to tech/SaaS.
investorpa.com
On-prem & hybrid options (important for reliability & privacy).
The LEXI DR on-prem device is aimed at customers who cannot tolerate cloud outages for live captions — a practical differentiator for broadcasters and events.
investorrelations.ai-media.tv
Does Ai-Media have a competitive moat?
Short answer: AIM has some niche advantages that create barriers in its specific markets, but it does not have an unassailable wide moat.
Details:
Narrow to moderate moat elements:
Domain expertise & client relationships in broadcast and accessibility make it harder for generic STT providers to win immediate trust for mission-critical live captioning.
Specialised product features (low latency live captioning, LEXI DR on-prem failover) and regulatory/quality requirements for SDH (subtitles for deaf & hard of hearing) are meaningful moats in practice.
Market Index Data API
Limitations to the moat:
Large cloud providers (Google, Microsoft, AWS) and powerful speech-to-text vendors (and specialist AI vendors) are continually improving ASR and multilingual models — they can compete on scale, cost and R&D. Appen and Nuix (and many global specialist vendors) can also bundle transcription into larger enterprise suites.
StockAnalysis
AI improvements lower the entry cost for automated transcription; the industry trend (and recent reporting on AI subtitles) shows AI can displace some manual work (though quality for SDH still often needs human post-editing). That keeps pressure on margins and forces continuous product improvement.
The Guardian
Net assessment: AIM’s moat is narrow and defensible in its niche (trusted live captioning, regulatory compliance, hybrid on-prem options), but not a wide moat — long-term defensibility will depend on continued tech leadership (Lexi quality & features), scale/recurring contracts, and customer stickiness versus big-tech entrants.
Quick strategic implications (what this means for investors / customers)
For investors: AIM is the only listed pure-play captioning leader on ASX — that gives it unique exposure to the accessibility/captioning market, but the company is still transitioning to a more tech/SaaS revenue mix and needs to sustain margin improvement to reach durable profitability.
investorpa.com
For customers: AIM’s hybrid (cloud + on-prem DR) and specialized broadcast workflows are strong reasons to choose it over generic STT services when uptime, regulatory SDH quality, or low latency are critical.
