Asset Vision Co Limited (ASX: ASV) reported a 46% surge in annual recurring revenue (ARR) to $6.45 million for the fiscal year ended June 30, 2026, according to FY26 results presented on August 25, 2026. Total sales revenue rose 32.7% to $6.67 million, supported 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.
The company’s cash position strengthened by 53.5% to $2.35 million at the end of June, before rising further to $3.50 million by the presentation date. Despite a 39.1% increase in total costs, EBITDA remained broadly stable at $658,000, down 0.8% from $664,000 in FY25. Net profit after tax improved to a loss of $270,000 from a loss of $386,000, reflecting a 30% reduction in losses.
Asset Vision’s net revenue retention improved to 110%, while its Rule of 40 score reached 55. Customer concentration eased, with the top three customers accounting for 35.8% of revenue, down from 50.1%, and the largest single customer contributing 35%, down from 50%. The company maintained 100% staff retention during the year.
AI integration played a key role in the company’s growth, with AI-related revenue representing 4% of total revenue in FY26 and contributing to profitability. Asset Vision’s AI platform, which includes Microsoft 365 Copilot, ChatGPT, and Claude, is now in production use. The company’s autopilot feature uses computer vision to automatically detect road defects and analyze ride quality, with a sample run identifying 157 potential defects, including 149 instances of bleeding/flushing and 57 ride quality events.
Asset Vision operates in Australia’s public sector, working with four of six state governments in transport and securing 20 council customers out of roughly 500 potential local authorities. The company’s open sales pipeline totals $8 million, with $4 million in qualified and late-stage opportunities. The presentation highlighted competitive positioning against SAP, IBM, ServiceNow, and Hexagon.
