Veris’ Digital Expansion Faces Execution Challenges Amid Growing Project Pipeline
Veris Limited has secured over $2 million in new digital project contracts, reinforcing its leadership in spatial data consulting across energy, transport, and government sectors. These wins highlight the company’s innovative use of proprietary platforms and advanced data capture technologies.
- Secured $2 million+ contract for Transgrid’s HumeLink East energy infrastructure project
- Multiple government and regional projects including Shire Ashburton’s RoadSiDE initiative
- Integration of proprietary digital platforms 3SiDE and RoadSiDE for data capture and analytics
- Forward workload exceeds $55 million with a robust project pipeline
- Positive outlook despite external tariff changes impacting other sectors
Veris Strengthens Market Position with Major Digital Wins
Veris Limited (ASX: VRS), a leading digital and spatial data advisory firm, has announced a series of significant project wins that underscore its growing influence across key Australian industry sectors. Central to these is a $2 million-plus contract supporting Transgrid’s HumeLink East project, one of the country’s largest energy infrastructure initiatives. This contract leverages Veris’ proprietary 3SiDE platform alongside advanced data capture technologies, marking a milestone in the company’s digital transformation strategy.
The HumeLink East project involves the design and construction of 237 kilometres of dual 500 kV transmission lines and substation upgrades in New South Wales. Veris’ role includes comprehensive laser scanning, mobile mapping, and unmanned aerial vehicle surveys, integrated with its 3SiDE digital solution for data hosting, visualization, and analytics. This contract is expected to generate approximately $1.35 million in revenue over two years, reflecting the high-value nature of Veris’ digital offerings.
Diverse Sector Engagements Highlight Digital Expertise
Beyond energy, Veris has secured several government and regional contracts that demonstrate its expanding footprint. Notably, the Shire of Ashburton in Western Australia has engaged Veris to deploy its RoadSiDE platform for enhanced road network data capture and analysis. This initiative integrates three-dimensional mobile laser scanning and ground-penetrating radar to provide detailed insights into unsealed road conditions, supporting more informed maintenance and asset management decisions. The contract is expected to generate over $200,000 in revenue.
Additional projects include the Automation Road Safety Enforcement Initiative, which aims to streamline government workflows through a new digital application, and an Operational Improvement Fire Incident Management consulting assignment. These contracts, valued at $300,000 and $100,000 respectively, further illustrate Veris’ capability to deliver tailored digital solutions across public sector clients.
Strategic Growth Supported by Acquisition and Robust Pipeline
Veris’ recent acquisition of Spatial Vision has bolstered its digital consulting capabilities, enabling the company to offer a more integrated suite of services. The combined expertise enhances Veris’ ability to meet evolving industry demands for high-value digital spatial data solutions. The company reports a forward workload exceeding $55 million, with a strong pipeline of projects across transport, energy, government, and utilities sectors.
Managing Director and CEO Michael Shirley emphasized the company’s resilience and strategic positioning, noting that recent U.S. tariff changes are not expected to impact Veris’ domestic operations. He highlighted the company’s commitment to leveraging proprietary platforms like 3SiDE and RoadSiDE to drive technology-led transformation for clients.
As Veris continues to execute its digital transformation vision, these contract wins signal a promising trajectory for growth and innovation in spatial data consulting services.
Bottom Line?
Veris’ expanding digital project portfolio positions it well for sustained growth amid evolving infrastructure and government needs.
Questions in the middle?
- How will Veris scale its proprietary platforms to meet increasing demand across sectors?
- What are the timelines and milestones for revenue recognition from these new contracts?
- Could further acquisitions enhance Veris’ competitive edge in digital spatial data consulting?
