Veris (VRS) AGM 2026 presentation summary

Strategic transformation

• Shifting from a national survey business to an integrated digital and spatial data advisory firm, with spatial data at the core and services spanning survey, consulting, spatial insights and digital solutions.

• Strategy emphasizes embedding digital tools, monetising spatial data and insights, value-based pricing, diversifying revenue and disciplined, accretive M&A.

• Digital & Spatial revenue reached 28% of FY26 revenue, up from 25% in FY25 and 17% in FY24, reflecting a move toward higher-value services.

• Advisory engagements can create demand for digital platforms, while digital work can open advisory opportunities; platforms support licensing, subscriptions and managed services.

FY26 financial performance

• Revenue was $102.0m, up 4.9% YoY; underlying EBITDA was $10.3m, up 2.8%, at a 10.1% margin.

• Underlying PBT was $2.2m versus $2.6m in FY25; statutory PBT was $0.6m after $1.6m of one-off or non-cash expenses.

• Higher-margin Digital & Spatial and Consulting & Advisory growth cushioned softer traditional cadastral and engineering survey markets amid macroeconomic headwinds.

• Cash was $13.3m at 30 June 2026; net cash was $11.1m, supported by $8.1m operating cash flow after acquisitions, the FY25 dividend and the ongoing buy-back.

Growth initiatives and acquisitions

• Octave geospatial distributorship across Australia and New Zealand adds an initial $1.2m annual recurring revenue base; growth levers include software sales, renewals, implementation and cross-selling.

• Mesh added planning, urban design and landscape architecture expertise; its Parsel platform brings subscription revenue, and teams are collaborating on live projects.

• The Aurecon survey acquisition includes ongoing projects, a $4.5m guaranteed minimum revenue in the first 12 months and a three-year national partnership with first right of refusal on survey work.

• Aurecon annual revenue opportunity is estimated at $6m-$7m after year one; the $2.5m consideration is expected to be earnings-accretive in FY27, with completion expected in early November 2026 subject to conditions.

• Seven proprietary digital platforms have been developed; application development spans public safety, health, environmental monitoring, agriculture, natural resources and infrastructure.