• Vection secures $0.6m in new annual recurring revenue from AI contracts
• Total AI-driven recurring revenue now stands at $1.3m since TDB's acquisition
• $0.36m of new revenue to be recognized in FY25, remainder in early FY26
• New contracts span 14 clients, highlighting strong market traction for AI solutions

Vection Technologies Ltd (ASX:VR1, OTC:VCTNY) announced that The Digital Box S.p.A. ('TDB'), its recently acquired generative AI specialist, has secured an additional $0.6m in new annual recurring contracts. This follows from the $0.7m in previously announced AI-driven contracts, bringing TDB's total reported recurring revenue to $1.3m. The new $0.6m in recurring contracts further demonstrates TDB's generative AI expertise and strong market traction. As with the earlier round of contracts, these new wins underscore TDB's ability to convert AI into predictable, subscription-based revenue consistently. Vection's broader strategy, integrating advanced AI with extended reality, has proven successful, allowing the Company to address the digital transformation needs of diverse industries. The services provided to the new customers are each in the form of licenses to Vection software; professional services and support provided by Vection; and custom Kiosk solutions e.g. for Point of sale. Among the newly finalized contracts, the largest agreement is with NexyLab, an Italian IT consulting firm, for approximately $130k. The next largest contract, valued at around $124k, is with Sella GenAI. Other notable engagements include leather goods manufacturer Gavazzeni (~$97k), digital business management solutions company TeamSystem SPA (~$80k), and the lower house of Italy's Parliament (~$71k) where an intranet portal will be revamped with AI. The remaining contracts range from $1,000 to $40,000, reflecting the adaptability of TDB's and Vection's integrated AI and XR solutions across various industries and client needs.

$0.36m of the new revenue will be recognised this financial year (FY25), with the remainder to flow in the early part of the next financial year.