Vection Technologies (ASX: VR1)

Last close As at 16/07/2024

AUD0.02

0.00 (0.00%)

Market capitalisation

AUD22m

Vection Technologies (VR1), an Australian-based software company, operates in the field of extended reality (XR), which encompasses immersive technologies such as augmented reality, virtual reality and mixed reality.

Vection’s prospects are boosted by the two fast-growing markets in which it operates. First is the rapidly evolving metaverse, which is swiftly adding users and potential customers for Vection’s products (Gartner predicts that by 2026, 25% of people will spend at least one hour per day in the metaverse). Second is the XR market, which is expected by various studies to grow by 46–58% in 2022–27.

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Sector

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Equity Analyst

Key Management

  • Gianmarco Biagi

    CEO

Balance Sheet

Forecast net debt (A$m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (5.0) (29.6) (56.8)
Relative (8.3) (31.8) (60.7)
52 week high/low A$0.0/A$0.0

Financials

In June, Vection announced that it had won two contracts with a total contract value of A$1.2m, with A$0.4m due to be recognised in FY24 and A$0.8m across FY25 and FY26. The contracts are repeat awards from existing customers, which are technology service providers of cybersecurity and infrastructure security solutions for law enforcement, government agencies and security agencies. The contracts solidify Vection’s role in its customers’ supply chain and pave the way for the integration of spatial computing solutions in future projects in this sector. While positive earnings are expected from this contract, they are unlikely to be material to to earnings per share in FY24.

Y/E Dec Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2022A 18.9 1.4 (7.0) (0.67) N/A N/A
2023A 26.3 1.5 (11.2) (1.05) N/A N/A
2024E N/A N/A N/A N/A N/A N/A
2025E N/A N/A N/A N/A N/A N/A

Thematics

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