AI-enabled speech-to-text business

Project Sidra provides a wide array of speech-to-text solutions through its innovative technology, which is integrated in organisations across the public and private sectors.

The feature-rich solution is driven by a combination of transcriptionists and AI; the business is ideally positioned to capitalise on further AI advancements.

The company offers transcription, translation, captioning and associated services, operating as an all-encompassing provider of sought-after speech-to-text solutions.

Our clients are now offering the business for sale to facilitate their retirement plans. Offers invited.

Key Highlights

– Provides services across sectors such as medical, legal, academia, corporate and data migration.

– Primarily operates in the UK; strategy in place to enhance uptake across other English-speaking regions, including Europe and the US.

– Lucrative preferred supplier agreement has been extended, and many client relationships have been retained for over five years.

– Well placed to take advantage of opportunities within the transcription industry, including the forthcoming European Accessibility Act.

– Overseen by proficient directors who operate autonomously with little input from the shareholders; management team is fully capable of moving the business forward.

– Operates from leasehold office premises in Northern England.

Financial Highlights

– Generated a YE24 turnover of £2.5m, with an adjusted EBITDA of circa £700k.

– Forecast to achieve a turnover of £4.6m by YE27, with the adjusted EBITDA expected to increase to £1.5m.

– 70%+ of revenue is secured from the buoyant medical and healthcare industry.

– In excess of 84% of clients provide repeat business through licence agreements and ongoing requirements.

– All clients are retained on contracts, and 35% of the turnover is attributed to exclusive and / or preferred supplier agreements with prestigious clients.

– Strong pipeline worth £290k, and five prospective clients that are anticipated to generate a combined £275k per annum.