Asset Vision Ltd reported strong second-half growth for fiscal 2026, with annual recurring revenue rising 46% year-over-year to AUD 6.45 million. The company’s net revenue retention improved to 110%, up from 99% at mid-year, while EBITDA remained stable at approximately AUD 660,000.
The Melbourne-based software provider maintained a cash balance of AUD 3.5 million as of the latest reporting date, an increase from AUD 2.35 million at the end of fiscal 2026. Licensing gross margins held at 73%, though overall gross profit margin stood at 12.81% over the trailing 12 months. Revenue growth on a trailing basis reached 22% year-over-year, supported by a Rule of 40 score of 55.
Customer concentration eased as the largest client accounted for 35% of revenue, down from 50% previously, with management targeting single-digit levels within 12 to 18 months. AI-related revenue contributed 4% of total revenue and was described as profitable. The company’s total sales pipeline stood at AUD 8 million, including AUD 4 million in BANT-qualified opportunities.
Asset Vision’s stock ended the latest session unchanged at AUD 0.047, near the top of its 52-week range between AUD 0.02 and AUD 0.049. Market capitalization stood at AUD 25.3 million, with the company holding more cash than debt despite not being profitable over the past 12 months.
The company reorganized its verticals into core and emerging segments, expanding its transport and civic & community divisions to include 10 additional councils across four states. It now works with four of Australia’s six major state governments and serves 20 council customers out of roughly 500 potential targets. Staff retention remained at 100% over the past three years, with planned hiring in account management and delivery roles over an eight-week period.
Co-CEO Lucas highlighted the 46% ARR increase and cited a balanced contribution from new customers, existing client expansions, and multi-vertical growth. Co-CEO Damian Smith emphasized the company’s mission to simplify asset management through a collaborative platform, positioning it alongside global leaders such as SAP, IBM, ServiceNow, and Hexagon in government procurement processes.
