Company Interview / Veris mappng a digital future

Veris (ASX:VRS) is poised for continued growth following a significant turnaround, according to CEO Michael Shirley. He highlights that fiscal year 2025 demonstrates the success of a multi-year transformation strategy, providing a stable base to accelerate the company’s digital focus. Veris has returned to profitability, expanded margins, and now leverages geospatial data and digital solutions as its market differentiators. Shirley notes that the company’s digital transformation is driven by unique applications of AI and analytics, enhancing asset condition and optimisation for sectors like transport and infrastructure.

A key step in Veris’s evolution is the recent acquisition of Spatial Vision, which brought valuable government-sector client relationships, strengthened spatial insights and application development capabilities, and contributed immediate accretive value. Shirley points out that the integration of Spatial Vision has helped the firm win new contracts, leveraging its national footprint and expanding its digital offerings.

Veris is now focusing on premium segments and “sticky” clients, particularly within defence and government. Notable successes include work on Victoria’s suburban rail loop. The company’s strong balance sheet, over $16 million in cash and reduced debt, positions it well for further acquisitions and operational flexibility. Shirley sees Veris as a unique, profitable business with a growing presence in defence, water, renewables, and infrastructure.