Asset Vision Co Ltd reported a 46% rise in annual recurring revenue to $6.45 million for the fiscal year ended June 30, 2026, as the company highlighted progress in AI integration and customer diversification.
Total sales revenue increased 32.7% to $6.67 million, driven by a 25.9% increase in licensing revenue to $5.07 million and a 60.2% jump in professional services revenue to $1.60 million. Licensing gross margins remained robust at 73%. Net profit after tax improved to a loss of $270,000 from a loss of $386,000 a year earlier, reflecting a 30% reduction in losses despite a 39.1% rise in total costs.
EBITDA was broadly stable at $658,000, down 0.8% from $664,000 in FY25. Operating expenses were contained at 17% of revenue for sales and marketing, 22% for research and development, and 20% for general and administrative costs. The company’s cash balance rose 53.5% to $2.35 million at June 30, 2026, and reached $3.50 million by the presentation date, leaving the balance sheet debt-free.
Customer concentration eased, with the top three customers accounting for 35.8% of revenue compared with 50.1% previously. The largest single customer now represents 35% of revenue, down from 50%. The Rule of 40 score stood at 55, indicating balanced growth and profitability metrics.
AI revenue contributed 4% of total revenue in FY26, with the company noting profitability in this segment. Asset Vision’s AI defect detection platform processed sample data identifying 157 potential defects, including 149 bleeding/flushing instances and 4 cracking events. Ride quality events totaled 74, comprising 17 harsh and 57 noticeable events.
The company’s geographic footprint includes work with four of Australia’s six major state governments in transport and 20 council customers out of approximately 500 potential councils. The qualified sales pipeline exceeded $4 million across target verticals, with a total open pipeline of $8 million, including $4 million in qualified and late-stage opportunities.
Asset Vision’s stock was trading near the top of its 52-week range at $0.047 on August 25, 2026, with a market capitalization of $25.3 million. The company’s presentation coincided with full-year results, reinforcing its focus on AI-driven operational efficiency and customer expansion.
