Veris (VRS) H1 2026 earnings summary

Executive summary

• Revenue grew 9% year-over-year to $50.8 million in H1 FY26, driven by expansion in digital and spatial services and successful integration of Spatial Vision and Mesh acquisitions, which enhanced digital advisory capabilities and recurring revenue streams.

• Digital and spatial revenue now represents 29% of total revenue, up from 20% in the prior year, reflecting a strategic shift to higher-margin consulting and digital solutions.

• Underlying EBIT rose 62% to $2.0 million (4.0% margin), and underlying PBT increased 69% to $1.7 million (3.3% margin) compared to the prior year.

• Robust forward visibility with $65 million secured workload and a weighted pipeline exceeding $195 million, supporting confidence in near-term and long-term growth.

• Recent acquisitions and proprietary digital platforms, such as Parsel, are expected to drive further growth and margin expansion.

Financial highlights

• Revenue for the half reached $50.8 million, up 9% year-over-year.

• Underlying EBIT was $2.0 million (4.0% margin), up 62% year-over-year; underlying PBT was $1.7 million (3.3% margin), up 69% year-over-year.

• Reported PBT was $0.8 million, impacted by one-off M&A, legal, and system costs.

• Cash balance at period end was $14.9 million, supporting ongoing operations and strategic investments.

• Dividend of 0.2 cents per share was paid, totaling $1.05 million, with a Dividend Reinvestment Plan in place.

Outlook and guidance

• Secured backlog of $65 million and a weighted pipeline exceeding $195 million provide strong revenue visibility and support a positive outlook.

• Focus remains on scaling digital solutions, expanding advisory business, and disciplined capital management for sustainable growth.

• Positioned for growth across high-growth sectors including transport, property, government, utilities, defence, and energy.