Vection Technologies reports $3.8M adjusted EBITDA
- Vection Technologies delivered full-year revenue growth of 13% to $42 million alongside an adjusted EBITDA surge of $3.8 million.
- The company recorded its first positive operating cash flow in history at $959,000.
- Performance was underpinned by multi-year contracted order flows and expansion of its Algho AI platform across enterprise verticals.
Vection Technologies (ASX:VR1) delivered full-year revenue growth of 13% to $22 million while boosting adjusted EBITDA by $3.8 million for the period ended June 30.
The audited results mark a sharp operational turnaround compared to previous periods, as underlying EBITDA reached $6 million and gross margin expanded by 18.3 percentage points to 65.1%.
Vection Technologies stated that commercial momentum was driven by multi-year contracted programmes and its Algho AI platform securing contracts across more than ten enterprise verticals.
The business achieved positive annual operating cash flow for the first time at $959,000, supported by customer receipts rising to $41.5 million.
The company substantially strengthened its balance sheet as net assets doubled to $33.9 million following a $21 million institutional placement.
Following the announcement, the Vection Technologies share price was down at $0.017.
Vection Technologies operates as an enterprise tech vendor focused on 3D, extended reality, and artificial intelligence solutions for global industrial and commercial clients.
