VR1
Vection Technologies LTD
ASX
New Contracts With Nestle and Natuzzi
Sentiment:
Contract Wins Announcement
8 December 2024 5:35 PM
Vection Technologies secures $0.5 million in new contracts with Natuzzi and Nestlé, expanding its AI and XR solutions across retail, FMCG, and luxury furniture sectors.
Better than expected
Vection Technologies secured new contracts exceeding $500,000, surpassing their defined materiality threshold.
Summary
- Vection Technologies has announced new contracts totaling $0.5 million with Natuzzi and Nestlé.
- The contracts involve Vection's Shelfzone VR platform and demonstrate the growing adoption of AI-ready XR technologies.
- Natuzzi will use XR solutions for integrating real estate and luxury furniture design.
- Nestlé will expand its use of Shelfzone to optimize retail strategies and customer engagement.
- Agrifarma, a new client, will use Shelfzone to visualize a new retail concept for its pet food stores.
- The contracts highlight Vection's ability to deliver tailored solutions across various sectors.
Sentiment
Score: 8
Explanation: The announcement of new contracts with prominent brands and the positive management commentary suggests a positive outlook for Vection Technologies.
Positives
- Vection secured new contracts worth $0.5 million, exceeding its materiality threshold.
- The company expanded its partnerships with globally recognized brands like Natuzzi and Nestlé.
- The contracts demonstrate the versatility and scalability of Vection's XR solutions across different industries.
- Natuzzi's adoption of XR solutions positions Vection's technology as a transformative tool in the luxury furniture and real estate markets.
- The continued use of Shelfzone by Nestlé reinforces its value for global FMCG leaders.
Future Outlook
Vection Technologies is focused on enabling innovation for its clients and expanding its footprint in high-value markets. The company expects delivery of the Natuzzi and Agrifarma projects in Q2 FY25.
Management Comments
- Our partnerships with Nestlé and Natuzzi highlight the growing importance of Vection’s AI and XR ecosystem across industries.
- Nestlé’s continued use of Shelfzone and Natuzzi’s strategic adoption of our XR solutions demonstrate the scalability and versatility of our technology.
- We remain focused on enabling innovation for our clients, from enhancing retail strategies to creating immersive real estate solutions.
- These contracts represent significant milestones as we expand our footprint in high-value markets.
Industry Context
The contracts highlight the increasing demand for XR and AI solutions in various sectors, including retail, FMCG, and luxury furniture. Vection Technologies is positioning itself as a key player in this growing market by offering tailored solutions to global brands.
Next Steps
- Delivery of the Natuzzi project is expected in Q2 FY25.
- Delivery of the Agrifarma project is expected in Q2 FY25.
Key Dates
- December 6, 2024: $0.4m contract signed with Natuzzi for XR solutions.
Keywords
Extended Reality, XR, Artificial Intelligence, AI, Retail Technology, FMCG, Luxury Furniture, Real Estate, Virtual Reality, VR, Shelfzone, Natuzzi, Nestlé, Agrifarma, Vection Technologies
VR1
Vection Technologies LTD
ASX
Sector: Software & Services
Filings with Classifications
Better than expected
29 June 2025 7:19 PM
Defence Contract Award
- The $4.4 million follow-on supply confirms a successful transition from a proof-of-concept pilot to production delivery, indicating strong client satisfaction and product viability.
- The cumulative revenue from this customer has reached approximately $10 million, demonstrating significant and growing engagement with a top-tier defence contractor.
- The planned approximately $21 million in additional contracted options for FY26-FY30 signals substantial future revenue potential and long-term partnership with a key client.
Better than expected
22 June 2025 7:26 PM
Contract Signing Announcement
- The company secured a significant $2.6 million agreement, which substantially exceeds its $500,000 materiality threshold, indicating a strong new contract win.
Better than expected
16 June 2025 6:53 PM
Strategic Partnership Announcement
- The $520,000 agreement exceeds the company's internal materiality threshold of $500,000, indicating a significant contract.
- The partnership targets high-growth markets, with agricultural robotics projected to reach $48 billion by 2030 and precision farming $24 billion by 2030.
- The modular platform architecture allows for cross-sector deployment, expanding the addressable market beyond agriculture.
Better than expected
9 June 2025 8:01 PM
Investor Presentation
- The company reported a 60% increase in 1H25 revenues year-on-year, indicating strong top-line growth.
- Recurring revenue grew by an impressive 204% year-on-year, demonstrating a shift towards a more stable and predictable revenue model.
- Vection achieved positive adjusted EBITDA in 1H25, a significant improvement from a negative EBITDA in the previous fiscal year, signaling enhanced profitability.
Better than expected
9 June 2025 6:37 PM
Product Launch and Strategic Partnership Announcement
- The launch on AWS Marketplace provides a significant strategic partnership and market reach that is better than a standalone product launch.
- The initial contracted annual recurring revenue of $400,000 from early implementations indicates strong immediate commercial traction.
- The solution addresses a large and growing market opportunity, with the global assistive technology market projected to reach $54.9 billion by 2033.
Better than expected
1 June 2025 6:22 PM
Contract Award Announcement
- The A$1 million defence order exceeds the company's A$500,000 materiality threshold, indicating a significant win.
- The order reinforces an ongoing relationship with a strategic customer, suggesting strong client satisfaction and potential for repeat business.
- The client has already indicated additional significant opportunities, pointing to a robust future pipeline.
Better than expected
28 April 2025 7:30 PM
Placement Announcement
- The company raised more capital than initially targeted, indicating strong investor demand.
Better than expected
27 April 2025 8:02 PM
FY25 Q3 Activity Report
- The company reported positive operational cash flow, a significant improvement from previous quarters.
- Recurring revenue increased substantially, indicating a more stable and predictable revenue stream.
- The company's cash position improved, providing greater financial flexibility.
Capital raise
27 April 2025 7:43 PM
Trading Halt Request
- Vection Technologies is planning a capital raising.
- The capital raising is to support the expansion of its AI business.
- The capital raising is to support the development of new markets.
Better than expected
27 February 2025 9:41 PM
Half Year Results
- The company's revenue increased by 15% compared to the previous period.
- The company reduced its total debt by $5.4 million.
- Earnings per share improved by 63%.
Better than expected
27 February 2025 9:41 PM
Half-year report
- The company's revenue increased by 14.9% compared to the previous period.
- The loss after tax decreased by 58.7% compared to the previous period.
- Underlying EBITDA turned positive, indicating improved operational efficiency.
Capital raise
27 February 2025 9:41 PM
Half-year report
- In FY25 Vection announced the proposed acquisition of The Digital Box ('TDB'), a generative AI specialist, in tandem with a $2m equity raising (ASX: 29 August 2024).
- On 5 September 2024, the Company issued 200,000,000 of ordinary fully paid shares at $0.10 ($2m placement as per announced of 29 August 2024).
Better than expected
27 January 2025 4:33 PM
Quarterly Report
- The company achieved a positive operating net cash flow in a historically weak quarter, which is better than expected.
- The company's revenue growth of 60% half-on-half is significantly better than previous periods.
- The increase in recurring revenue to 34% is a positive sign of business model improvement.
Better than expected
21 January 2025 4:22 PM
Sales Announcement
- The company has exceeded its materiality threshold of $0.5m in revenue with these new sales.
Capital raise
16 January 2025 4:23 PM
Merger Announcement
- Vection issued approximately 143 million new shares as part of the initial consideration for the acquisition.
- Up to 52 million further shares may be issued subject to TDB meeting agreed sales, EBITDA, and balance sheet objectives one year post-acquisition.
Better than expected
8 December 2024 5:35 PM
Contract Wins Announcement
- Vection Technologies secured new contracts exceeding $500,000, surpassing their defined materiality threshold.
Capital raise
28 November 2024 4:19 PM
Annual General Meeting Results
- Resolution 4 approved the issuance of shares to Mr. Jacopo Merli.
Better than expected
24 November 2024 4:19 PM
Corporate Presentation
- Q1 FY25 revenue exceeded expectations with a 32% year-on-year increase, driven by strong demand for Vection's AI and XR solutions.
Better than expected
14 November 2024 6:17 PM
Contract Announcement
- The $0.5 million contract exceeds expectations, demonstrating strong market demand for Vection's AI solutions and validating the strategic acquisition of TDB.
Better than expected
31 October 2024 6:15 PM
Contract Announcement
- The $1.6 million contract significantly exceeds Vection's announcement materiality threshold, indicating better-than-expected results.
Capital raise
28 October 2024 3:35 AM
Extraordinary General Meeting Results
- Share issuances related to the TDB acquisition.
- Issuance of shares to Exchange Capital Advisory Pty Ltd.
- Issuance of free attaching options.
- Issuance of broker options.
Better than expected
20 October 2024 6:57 PM
Partnership Announcement
- The $0.5 million sale of the 'Algho' platform to Dell exceeded expectations, demonstrating strong market demand and the platform's commercial viability.
Better than expected
9 October 2024 8:30 PM
Distribution Agreement Announcement
- The \$3.6 million deal exceeds the company's materiality threshold of \$500,000, indicating a positive outcome.
Delay expected
1 October 2024 5:02 AM
Trading Update
- There was a delay in lodging the annual report for the year ended June 30, 2024, which resulted in a suspension of trading.
Better than expected
30 September 2024 6:21 PM
Financial Results
- Vection Technologies exceeded expectations with 30% year-on-year revenue growth and a 34% increase in EBITDA.
Capital raise
30 September 2024 6:21 PM
Annual Report
- A $2 million placement of ordinary shares at $0.10 was issued on September 5, 2024.
- Up to circa 55 million Vection shares will be issued if TDB achieves sales and EBITDA objectives and balance sheet valuation targets one year post-acquisition.
Worse than expected
30 September 2024 6:21 PM
Annual Report
- Despite a 30% increase in revenue, Vection Technologies still reported a net loss after tax, indicating that expenses outweighed the revenue growth.
Worse than expected
30 September 2024 6:20 PM
Financial Results Correction
- The revised financial results show a significantly larger loss than initially reported, primarily due to adjustments in revenue recognition, share-based payments, and asset valuations.
Better than expected
30 July 2024 6:25 PM
FY24 Q4 Activity Report and Appendix 4C
- The company's cash receipts for Q4 FY24 were better than the prior corresponding period, increasing by 15%.
Better than expected
28 April 2024 7:54 PM
Quarterly Report
- The company's revenue, cash receipts, and contracted revenue all showed significant growth compared to previous periods, indicating better-than-expected performance.
Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.