Veris’ Profit Surge and Acquisition Pose Integration and Growth Challenges
Veris Limited has reported a significant financial turnaround for the year ended June 2025, returning to profitability and boosting earnings, while strategically acquiring Spatial Vision to broaden its geospatial services across Australia.
- 5% revenue growth to $97.2 million
- 49% increase in adjusted EBITDA to $10.1 million
- Return to profitability with $1.95 million net profit after tax
- Acquisition of Spatial Vision expands digital and advisory services
- Final dividend declared at $0.002 per share
Financial Turnaround Signals Renewed Momentum
Veris Limited, a leading player in Australia's geospatial and spatial data services sector, has delivered a marked financial turnaround for the fiscal year ending 30 June 2025. The company reported a 5% increase in group revenue, reaching $97.2 million, alongside a substantial 49% rise in adjusted EBITDA to $10.1 million. Most notably, Veris returned to profitability with a net profit after tax of $1.95 million, reversing the previous year's loss of $4.69 million.
Strategic Acquisition Enhances Service Offering
In a move that underscores its growth ambitions, Veris acquired 100% ownership of Spatial Vision Pty Ltd, a Melbourne-based firm specializing in geospatial solutions and information technology. Founded in 1999, Spatial Vision brings expertise in enterprise GIS, application development, and spatial data services, with a client base spanning government and private sectors across multiple Australian states. This acquisition is expected to significantly diversify and strengthen Veris’ digital solutions and advisory capabilities, particularly in addressing environmental and social challenges through innovative spatial technologies.
Expanding Footprint Across Government and Industry
Spatial Vision’s integration will expand Veris’ reach into key government agencies at local, state, and federal levels across Victoria, New South Wales, Queensland, and Western Australia. This geographic and sectoral expansion aligns with Veris’ strategy to provide end-to-end spatial data services, from data collection and hosting to analytics and consulting, servicing critical sectors such as defense, energy, transport, and utilities.
Shareholder Returns and Outlook
Reflecting its improved financial position, Veris declared a final dividend of $0.002 per share, fully franked, with a dividend reinvestment plan available to shareholders. The company’s net tangible asset backing remained steady at $0.045 per share. While the report does not provide explicit forward guidance, the acquisition and financial results suggest a platform for sustained growth and enhanced market positioning.
Looking Ahead
Veris’ upcoming Annual General Meeting, scheduled for 21 October 2025, will be a key event for investors to gain further insights into the company’s strategic direction and integration progress of Spatial Vision. The company’s ability to leverage its expanded capabilities and geographic footprint will be critical in maintaining momentum in a competitive and evolving sector.
Bottom Line?
Veris’ financial rebound and strategic acquisition set the stage for a stronger presence in Australia’s geospatial services market.
Questions in the middle?
- How will Veris integrate Spatial Vision’s operations and culture into its existing business?
- What are the company’s growth targets and market opportunities post-acquisition?
- How might evolving government policies on environmental and spatial data impact Veris’ service demand?
