STG.ASX: Update on Nike contract

Update on Nike contract

Stock	Straker Ltd (STG.ASX)
Release Time	26 May 2025, 9:51 a.m.
Price Sensitive	Yes

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Straker Provides Update on Nike Contract

Key Points

Nike will not renew legacy services agreement beyond current term
Revenue from Nike represented ~3.3% of Straker's FY25 revenue
Cessation of contract expected to negatively impact FY26 revenue and EBITDA

Full Summary

Straker Limited (ASX: STG), a global leader in AI-powered language technology solutions, has provided an update on its commercial relationship with Nike, Inc. ('Nike'). Nike has advised Straker that it will not renew its legacy services agreement, beyond its current term, which concludes on 15 December 2025. Revenue attributable to Nike represented approximately 3.3% of Straker's revenue for FY25. The cessation of this contract is expected to negatively impact FY26 Revenue by NZ$0.48m and Adj EBITDA by NZ$0.29m. Straker remains focused on diversifying its client base and expanding its global footprint through its AI-powered language technology solutions. The company continues to explore new opportunities and partnerships to drive long-term growth and shareholder value.