FY25 Trading Update - Return to Profitability

• Unaudited net profit before tax expected in $1.8-$2.0 million range
• Revenue expected to be $95-$97 million, representing solid year-on-year growth
• Strategic restructure and pivot to national operating model driving margin expansion

Digital and spatial data advisory and consulting firm Veris Limited (ASX:VRS) has announced a trading update regarding its expected financial performance for the fiscal year ending 30 June 2025 (FY25), highlighting a strong turnaround in performance and continued strategic execution. Based on operational performance to date, the company anticipates reporting an unaudited profit before tax in the range of at least $1.8 - $2.0 million, demonstrating a significant and continuing turnaround from the prior year statutory loss before tax of $4.4 million in FY24. Full year FY25 revenue is anticipated to be in the range of $95 - $97 million. The turnaround reflects the disciplined execution of strategy, improved operational performance, and an ongoing focus on margin expansion. The strategic restructure and pivot to a national operating model implemented during H2 FY24 has proven effective, with FY25 performance demonstrating clear benefits across the business. Veris' sharpened focus on higher-value digital, spatial, and advisory services is delivering measurable results, including a growing share of Digital & Spatial based consulting and advisory projects and improved margins. The acquisition of Spatial Vision has also delivered immediate strategic and operational benefits, with early progress exceeding expectations. Veris continues to demonstrate disciplined financial management, underpinned by a strong balance sheet and a focus on long-term value creation. The Board is actively considering the reinstatement of a full year dividend from FY25 operational cashflow in line with the company's historic payout ratio. Veris expects to enter FY26 with a positive outlook, supported by a strong and diverse pipeline across multiple industry sectors, with strong demand for services aligned to digital transformation, consulting, advisory, spatial analytics, digital solutions, and digital twins.

Unaudited net profit before tax expected to be in the range of $1.8 - $2.0 million for the fiscal year ending 30 June 2025 (FY25). Revenue (unaudited) expected to be in the range of $95 - $97 million for FY25.

Veris expects to enter FY26 with a positive outlook, supported by a strong and diverse pipeline across multiple industry sectors, with strong demand for services aligned to digital transformation, consulting, advisory, spatial analytics, digital solutions, and digital twins.