Key highlights of Ai-Media Technologies Limited's half-year report

Ai-Media Technologies Limited (ASX: $AIM) has reported a 10.1% increase in revenue for the half-year ended 31 December 2023, reaching $32,726,807 compared to $29,724,856 in the prior half-year. The company's EBITDA also saw a significant rise, recording a profit of $1,877,130, up 38.9% from the previous half-year's profit of $1,351,445. The growth in EBITDA was primarily attributed to an increase in higher margin technology sales.

Executive commentary on financial performance and strategic outlook

The strong growth in technology sales and the ongoing transition from human-based services has led to material EBITDA growth. The improved accuracy of LEXI has seen the successful transition of customers, particularly in the Broadcast sector where the adoption of LEXI has accelerated. The Group continues to grow its market share in this area and anticipates this will continue in current and new markets. As at 31 December 2023, the consolidated statement of financial position reflects a net asset position of $73,919,416, and the company's strong balance sheet with minimal debt and a solid cash balance provides the Group the flexibility to execute on strategic initiatives.

Summary of Ai-Media Technologies Limited's half-year report and outlook

Ai-Media Technologies Limited has reported a positive financial performance in the half-year ended 31 December 2023, with a notable increase in revenue and EBITDA. The company's strategic shift towards technology-driven services has proven to be successful, as evidenced by the growth in higher margin technology sales. With a strong balance sheet and a focus on sustainable revenue growth, Ai-Media Technologies Limited is confident in its ability to continue capturing market share and aims to achieve profitability in the near future.