Veris Limited confirms a strong turnaround in FY25 with a $2 million profit before tax and 5% revenue growth, driven by strategic transformation and a major Victorian rail contract.
- FY25 unaudited profit before tax of $2.0 million, reversing a $4.4 million loss in FY24
- Revenue increased 5% to $97.2 million year-on-year
- Strong cash balance of $16.6 million despite capital deployment
- Secured over $65 million in new workload from Victorian Suburban Loop Rail contract
- Strategic transformation and acquisition of Spatial Vision driving margin expansion
Veris Returns to Profitability
Veris Limited (ASX, VRS), a leading digital spatial advisory and consulting firm, has confirmed its unaudited financial results for the fiscal year ended 30 June 2025, marking a significant turnaround from the prior year. The company reported a profit before tax of $2.0 million, reversing a $4.4 million loss in FY24, alongside a 5% increase in revenue to $97.2 million. This positive momentum underscores the effectiveness of Veris’ ongoing strategic transformation and operational improvements.
Strategic Moves and Operational Gains
The turnaround is attributed to disciplined execution of a national operating model implemented in the second half of FY24, which has now delivered clear benefits across the business. Veris has intensified its focus on high-value digital spatial advisory and consulting services, resulting in enhanced project margins and stronger revenue streams. The acquisition of Spatial Vision has accelerated the company’s transition to a fully integrated digital spatial advisory consulting model, further bolstering its competitive positioning.
Robust Financial Position Amid Growth
Despite significant capital deployment for the Spatial Vision acquisition and an ongoing on-market share buyback program, Veris maintained a strong cash balance of $16.6 million at June 30, up from $16.1 million the previous year. This robust balance sheet provides the company with flexibility to pursue further growth opportunities and withstand market fluctuations.
New Contract Wins Fuel Forward Workload
Adding to the positive outlook, Veris has secured a substantial new workload exceeding $65 million, anchored by the recently awarded Victorian Suburban Loop Rail contract. This major infrastructure project not only expands Veris’ project pipeline but also reinforces its presence in key sectors such as transport and government, where digital spatial data solutions are increasingly critical.
Looking Ahead
The company is set to release its full audited FY25 financial statements on August 26, 2025, which will provide further clarity on the sustainability of its turnaround. Investors will be watching closely to see how Veris leverages its strategic initiatives and contract wins to drive continued growth and margin expansion in the coming years.
Bottom Line?
Veris’ FY25 results signal a promising recovery, but the market will await audited confirmation and execution on new contracts.
Questions in the middle?
- How will the integration of Spatial Vision impact Veris’ long-term profitability?
- What are the risks and timelines associated with the Victorian Suburban Loop Rail contract?
- Can Veris sustain margin expansion amid ongoing capital deployment and market competition?