Veris (VRS) H2 2025 earnings summary

Executive summary

• Transformation from a fragmented surveying business to a differentiated spatial data and digital solutions provider, leveraging AI and digital twins for high-value infrastructure sector clients.

• Achieved a significant turnaround, posting $2.0M profit before tax in FY25, reversing a $4.4M loss in FY24, while continuing strategic investments.

• Revenue grew to $97.2M, up from $92.6M in FY24, with a strong order book exceeding $65M and a robust cash balance of $16.6M.

• Digital and spatial advisory services now contribute over 25% of total revenue, reflecting successful digital strategy execution.

• Focus on high-margin, value-based projects and strategic partnerships, including an alliance with Wumara to enhance indigenous capability.

Financial highlights

• Organic revenue exceeded $97.2M, up 5% year-over-year, with a profit before tax of $2.0M, reversing a $4.4M loss in FY24.

• Gross profit margin improved to 36.5% from 32.6% in FY24.

• EBITDA margin increased to 10.3%, with EBITDA of $10.0M.

• Digital and spatial revenue grew from 17% to over 25% of total revenue.

• Dividend declared with a 55% payout ratio, returning over $3.2M to shareholders over three years.

Outlook and guidance

• Committed workload exceeds $65M, with a weighted pipeline over $190M.

• Strong project wins, including the Suburban Rail Loop, underpin confidence in future revenue growth.

• Continued focus on margin growth and sustainable, profitable expansion.

• Growth supported by integration of Spatial Vision and expansion into high-value digital and consulting services.