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Vection Technologies (ASX: VR1)

Last close As at 18/04/2024

AUD0.03

— 0.00 (0.00%)

Market capitalisation

AUD29m

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.

VR1’s prospects are boosted by the two fast-growing markets it operates in. First is the rapidly evolving metaverse, which is swiftly adding users and potential customers for VR1’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.

Latest Insights

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TMT | Flash note

Vection Technologies — Contract wins underpin strong start to H224

TMT | Flash note

Vection Technologies — Record half and strong H2 visibility

TMT | Update

Vection Technologies — Established strategy to drive scalable growth

TMT | Flash note

Vection Technologies — Delivering on ambitious targets
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Sector

TMT

Equity Analyst

Max Hayes

Max Hayes

Associate 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 (7.4) (3.8) (47.4)
Relative (6.7) (6.8) (49.3)
52 week high/low A$0.0/A$0.0

Financials

Vection Technologies secured multiple contracts in February, generating total contract value (TCV) of A$5.8m, with management expecting to recognise the associated revenue and cash across H224. Year to date, the group has delivered more than A$22.5m in TCV, c 80% of FY23 TCV, underpinning growth momentum in FY24. The most substantial contract, valued at A$4.9m (received in full as cash on 21 March), was won with an existing customer in the defence sector, Vection’s second-largest vertical, showing that management is delivering on its upsell strategy. The other contracts spanned healthcare, retail and real estate, reflecting growing demand for extended/virtual reality technologies across a myriad of commercial applications.

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

Research

Flash note

TMT

Vection Technologies — Record half and strong H2 visibility

Update

TMT

Vection Technologies — Established strategy to drive scalable growth

TMT

Flash note

Vection Technologies — Contract wins underpin strong start to H224
View All

Thematics

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media

thematic

TMT

Deutsches Eigenkapitalforum (EKF) 2023 technology

thematic

TMT

MediaWatch – Still waiting…
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