Veris (VRS) H2 2025 earnings summary

Executive summary

• Achieved a significant turnaround in FY25, posting a $2.0M profit before tax after a $4.4M loss in FY24, driven by transformation to a differentiated digital and spatial data provider and strategic investments.

• Revenue grew 5% year-over-year to $97.2M, with digital and spatial advisory now contributing over 25% of total revenue.

• Strategic acquisition and integration of Spatial Vision expanded digital advisory capabilities and government sector reach.

• Focus on high-margin, value-based projects and partnerships, including alliances to enhance indigenous capability.

• Operational restructure and national delivery model improved efficiency and scalability.

Financial highlights

• Revenue increased 5% year-over-year to $97.2M, with profit before tax of $2.0M, reversing a prior loss.

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

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

• Cash balance at year-end was $16.6M, despite acquisition and debt reduction activities.

• Over $3.2M returned to shareholders via dividends and buybacks FY23–FY25, with a 55% payout ratio.

Outlook and guidance

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

• Focus remains on margin-accretive growth, scaling digital platforms, and selective M&A.

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