Asset Vision lifts annual revenue to $6.4M

• Asset Vision secured multiple new infrastructure contracts, increasing its annual recurring revenue run rate by approximately 45%.
• The company's annual recurring revenue run rate reached approximately $6.4 million following the new contract wins.
• The contract acquisitions align with the company's strategy to expand its platform across key infrastructure verticals beyond transport.

Asset Vision (ASX:ASV) secured multiple infrastructure contracts, lifting its annual recurring revenue run rate to $6.4 million.

The run rate represents growth of approximately 45% from the $4.4 million recorded at the start of the financial year.

“These customer wins demonstrate that our approach is delivering results,” said Asset Vision Co-Founder & Co-CEO Product and Technology Damian Smith.

The new clients include NSW Homes, Department of State Growth Tasmania, Marine and Safety Tasmania, and Central Goldfields Shire Council.

Following the announcement, the Asset Vision share price was up at $0.043.

The company stated that the transactions expand its software platform across transport, civic, community, and social infrastructure verticals.

Ventia and Fulton Hogan also chose to implement the platform to support their newly awarded road maintenance contracts commencing July 1.