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Highlights

  • Veris expects FY25 profit before tax of $1.8–$2.0 million, a sharp rebound from FY24’s $4.4 million loss.

  • Revenue forecast at $95–$97 million, supported by digital and spatial services growth.

  • Share price climbed 14% to 5.7 cents on 24 June 2025, driven by investor confidence in strategy execution.

Veris Limited (ASX:VRS) shares rose more than 14% to 5.7 cents on the morning of 24 June 2025, after the digital and spatial consulting firm released a trading update indicating a financial turnaround for the fiscal year ending 30 June 2025.

The company reported that unaudited profit before tax is expected to range between $1.8 million and $2.0 million, a significant recovery from the $4.4 million statutory loss reported in FY24. Veris also expects full-year revenue of $95–$97 million, reflecting continued top-line growth alongside a strategic shift toward higher-margin digital and spatial advisory services.

This performance turnaround has been underpinned by Veris’ national restructure implemented in the second half of FY24, as well as ongoing progress in executing its transformation strategy. The company has focused on expanding its consulting and advisory capabilities in digital and spatial data, which has resulted in enhanced project quality, higher margins, and a growing share of high-value contracts.

A major contributor to the improved outlook has been the early success of the Spatial Vision acquisition, which has been fully integrated into the Veris business. The acquired team has already helped boost the pipeline of digital projects, delivering immediate operational and strategic value. The integration strengthens Veris’ positioning as a fully integrated digital advisory business, with enhanced capacity in geospatial analytics, GIS, and strategic consulting.

Veris has also highlighted a forward workload exceeding $62 million and a weighted pipeline of more than $195 million over the next two years. These figures reflect growing demand across core sectors, including Transport, Property, Energy, Defence, Utilities, and Government. The company continues to pursue complex, multidisciplinary projects that align with the rising demand for digital transformation solutions.

From a capital management perspective, Veris has confirmed that its Board is considering a dividend payment for FY25, subject to cashflow and other strategic priorities. The company will also continue with its market share buyback program, viewing current share levels as undervalued relative to operational performance.

Looking ahead, Veris expects the combination of a secured pipeline, sectoral diversity, and sustained digital demand to support ongoing margin improvement and profitable growth into FY26.

Managing Director and CEO Michael Shirley noted:

“FY25 has been a year of disciplined execution and strategic clarity. The turnaround in our performance reflects the strength of our transformation agenda and the commitment of our people.”

“By focusing on high-value digital, spatial, consulting and advisory services, we’re meeting growing demand for data-driven insights and integrated solutions. The early success of the Spatial Vision integration has strengthened our capabilities and accelerated our shift toward a fully integrated digital advisory model.”