Vection Technologies secures $2.3M in contracts
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- Vection Technologies has secured new artificial intelligence contracts worth approximately $2.3 million across five sectors.
- The company's total new orders since the start of April have now reached approximately $7 million.
- The commercial expansion relies heavily on driving broader enterprise adoption of its proprietary Algho AI platform.
Vection Technologies (ASX:VR1) secured approximately $2.3 million in new artificial intelligence contracts across five sectors.
This development brings the company's total new orders since the beginning of April 2026 to approximately $7 million.
The orders include $0.99 million in one-time contracts alongside an annual recurring revenue agreement worth $1.3 million.
The business expects to recognise $2 million during financial year 2026 and $300,000 in financial year 2027.
Following the announcement, the Vection Technologies share price was unchanged at $0.02.
The company stated that four of the five new orders will be powered directly by its Algho AI platform.
These contracts cover multiple commercial fields, including healthcare analytics, luxury fashion, public services, and airport accessibility logistics.
