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Vection Technologies (ASX: VR1)

Last close As at 30/04/2024

AUD0.03

— 0.00 (−7.41%)

Market capitalisation

AUD29m

Vection Technologies (VR1), an Australian-based software company, operates in the field of extended reality (XR), which encompasses immersive technologies such as augmented reality, virtual reality and mixed reality.

VR1’s prospects are boosted by the two fast-growing markets in which it operates. First is the rapidly evolving metaverse, which is swiftly adding users and potential customers for VR1’s products (Gartner predicts that by 2026, 25% of people will spend at least one hour per day in the metaverse). Second is the XR market, which is expected by various studies to grow by 46–58% in 2022–27.

Latest Insights

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TMT | Update

Vection Technologies — Moving from niche to mainstream markets

TMT | Flash note

Vection Technologies — Contract wins underpin strong start to H224

TMT | Flash note

Vection Technologies — Record half and strong H2 visibility

TMT | Update

Vection Technologies — Established strategy to drive scalable growth
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Sector

TMT

Equity Analyst

Max Hayes

Max Hayes

Associate Analyst

Key Management

  • Gianmarco Biagi

    CEO

Balance Sheet

Forecast net debt (A$m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (13.8) (7.4) (47.9)
Relative (11.4) (7.6) (50.7)
52 week high/low A$0.0/A$0.0

Financials

Vection’s Q324 update showed strong double-digit growth in revenue and cash receipts, driven by multiple contract wins, including its largest contract to date with an existing defence customer. A swing to positive operating cash flow in Q3 (A$4.1m), coupled with contract wins, validates the company’s streamlined sales structure, designed to bolster operational efficiency. Cash generated also supported a quarter-on-quarter reduction in debt. Management is seeing early positive signs by enhancing the platform’s compatibility with Apple Vision Pro, potentially unlocking a key growth avenue from rising enterprise adoption among large global players.

Y/E Dec Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2022A 18.9 1.4 (7.0) (0.67) N/A N/A
2023A 26.3 1.5 (11.2) (1.05) N/A N/A
2024E N/A N/A N/A N/A N/A N/A
2025E N/A N/A N/A N/A N/A N/A

Research

Flash note

TMT

Vection Technologies — Contract wins underpin strong start to H224

Flash note

TMT

Vection Technologies — Record half and strong H2 visibility

TMT

Update

Vection Technologies — Moving from niche to mainstream markets
View All

Thematics

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media

thematic

TMT

Deutsches Eigenkapitalforum (EKF) 2023 technology

thematic

TMT

MediaWatch – Still waiting…
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