Asset Vision Co Ltd’s annual recurring revenue rose 46% year-over-year to AUD 6.45 million in the second half of fiscal 2026, the company said in its earnings call transcript. The enterprise asset management software provider, which serves government, transport, civic, utilities and social infrastructure clients, reported that net revenue retention increased to 110% from 99% at mid-year.
EBITDA remained broadly stable at approximately AUD 660,000, while the cash balance grew to AUD 3.5 million from AUD 2.35 million at fiscal 2026 year-end. Licensing gross margin was maintained at 73%, with overall gross profit margin at 12.81% over the trailing twelve months. Trailing revenue growth stood at 22% year-over-year, and the Rule of 40 score reached 55.
The company’s stock closed unchanged at $0.047, near the top of its 52-week range of $0.02 to $0.049. Market capitalization stood at $25.3 million. Asset Vision’s largest customer accounted for 35% of revenue, down from 50% previously, with management targeting a reduction into the teens over the next 12 to 18 months.
Total pipeline totaled AUD 8 million, of which AUD 4 million was qualified via BANT criteria (Budget, Authority, Need, Timeline). AI-related revenue contributed 4% of total revenue and was described as profitable. The company highlighted integrations with ChatGPT, Claude AI and Microsoft 365 Copilot within its platform.
In transport, Asset Vision works with four of Australia’s six state governments, including recent contracts with the Tasmanian State Road Authority, Marine and Safety Tasmania, and three Victorian road maintenance agreements. The civic and community vertical added 10 council customers across four states in fiscal 2026, bringing its total to 20 out of roughly 500 potential councils. Emerging utilities and social infrastructure wins include Westernport Water, Homes NSW, and a Tasmanian education provider rolling out the software across 38 schools.
Co-founders and co-CEOs Lucas and Damian Smith emphasized disciplined investment in capacity ahead of revenue growth, with CFO Vesna Jelesic noting a stronger operating platform and healthy balance sheet. The company cited SAP, IBM, ServiceNow and Hexagon as competitors in the asset management software market.
