Highlights

  • FY26 Revenue increased to $102.0 million, up 4.9% from FY25.
  • Underlying EBITDA reached $10.3 million with a 10.1% margin.
  • Digital & Spatial revenue increased to 28% of total revenue from 25% in FY25.
  • Secured forward workload reached $65 million with a weighted opportunity pipeline exceeding $195 million.

Veris Limited (ASX:VRS) is a fully integrated digital and spatial data advisory and consulting firm providing end-to-end solutions across sectors including transport, property and buildings, energy and resources, defence, utilities and government. The company combines spatial data collection, analytics, insights, modelling, survey capabilities, consulting and advisory services to support clients managing large-scale data requirements. During FY26, Veris continued shifting its Business mix toward digitally enabled solutions and advisory services while maintaining its operational base across Australia.

FY26 Performance Reflects Digital and Advisory Expansion

Veris delivered revenue of $102.0 million in FY26, representing growth of 4.9% compared with $97.2 million in FY25. Underlying EBITDA increased to $10.3 million from $10.1 million, maintaining a 10.1% margin. Underlying Profit before tax was $2.2 million compared with $2.6 million in FY25.

The company reported statutory profit before tax of $0.6 million after one-off items including Merger and Acquisition costs, enterprise system assessment costs, Amortisation of acquisition-related intangibles, and restructuring and systems-related costs.

During FY26, Veris experienced two key business trends. Growth continued in Digital & Spatial solutions, analytics and Consulting & Advisory services, while traditional survey markets faced challenging conditions due to softer property market conditions, higher interest rates and broader economic uncertainty.

Digital & Spatial revenue increased to 28% of total revenue during FY26, compared with 25% in FY25 and 17% in FY24. This reflects the company’s ongoing strategy of expanding into higher-value digital services and technology-enabled solutions.

At 30 June 2026, Veris maintained a cash balance of $13.3 million and net Assets of $27.2 million. The company also reported a secured forward workload of $65 million and a weighted opportunity pipeline exceeding $195 million.

Digital Solutions and Consulting Capabilities Drive Strategy

Veris continued executing its strategy of expanding higher-margin Digital & Spatial and Consulting & Advisory services during FY26.

The company is moving beyond traditional survey activities toward integrated digital consulting solutions supported by spatial data expertise. Veris uses a cross-sell approach where advisory engagements create opportunities for digital solutions, while digital platform relationships support additional advisory work.

The integration of Spatial Vision and Mesh has expanded Veris’ digital advisory capabilities and increased its presence across government and east coast markets. Digital solutions are increasingly being deployed through AI and automation-supported workflows designed to improve productivity, safety and data quality for clients.

The company’s Digital Advisory team continued building engagement with government agencies across infrastructure, transport, communities and utilities sectors. These activities focus on supporting organisations managing digitalisation and data policy requirements.

The acquisition of Spatial Vision also strengthened Veris’ application development capabilities. The team has delivered digital platforms across public safety, health, environment, agriculture, fisheries and transport sectors. These capabilities include citizen-facing services, field data capture tools and regulatory compliance platforms using AI and location intelligence.

Veris continues developing technology-enabled revenue streams through licensing, subscriptions and managed services alongside its consulting activities.

Octave Partnership and Future Growth Pipeline

During FY26, Veris expanded its relationship with Hexagon AB through its appointment as Nasdaq-listed Octave’s authorised Geospatial Distributor across Australia and New Zealand.

The partnership expands Veris’ role from services-based engagement into geospatial software sales, consulting, training, renewals and customer management. The arrangement provides an initial Recurring Revenue base of approximately $1.2 million per annum, with potential to expand subject to market adoption and execution.

Veris’ strategic priorities include embedding digital tools and AI-enabled platforms across professional services, leveraging spatial data expertise, developing Value-Based Pricing models, diversifying revenue streams and maintaining disciplined Capital management.

The company’s client base includes organisations across transport, government, utilities, defence, energy and resources, property and buildings sectors. This sector Diversification supports Veris’ approach to developing longer-term relationships with major clients.

Looking ahead, Veris plans to continue converting its secured workload and opportunity pipeline into delivery while maintaining cost discipline and capital management. The company will continue focusing on digital transformation, advisory services and technology-enabled solutions across its operating markets.

Key Insights

Veris is progressing its transition toward digital spatial solutions and advisory-led services. FY26 performance reflected revenue growth, increased contribution from Digital & Spatial activities and continued development of technology-enabled revenue channels through partnerships and expanded capabilities.