• 26% increase in Annual Recurring License Revenue to $3.9m
• 29% increase in Licensing Revenue to $943k
• 39% increase in Total Revenue to $1,235k
• 5% decrease in Operating Expenses to $1,093k
• Positive Operating Cash Flows of $625k

Asset Vision Co Limited (ASX: ASV) has delivered another strong quarter, with key highlights including a 26% increase in Annual Recurring License Revenue (ARR) to $3.9m, a 29% increase in Licensing Revenue to $943k, and a 39% increase in Total Revenue to $1,235k. The company has continued to manage costs effectively, with a 5% decrease in Operating Expenses to $1,093k. Asset Vision generated positive Operating Cash Flows of $625k during the quarter, bolstered by the receipt of the R&D tax offset. The company also fully settled the deferred consideration for the EagleSoft acquisition, signifying that all contingent liabilities have been paid entirely out of free cash flow, further strengthening the balance sheet and enhancing financial flexibility. Asset Vision submitted numerous new customer proposals during the quarter, driven by strong demand in the facilities, utilities, transport, and local government verticals, which are forecasted to drive further ARR growth in the second half of FY25. The company also entered into several new partnerships that enhance its end-to-end market offering and channels to market. The product team has been actively delivering new features to the platform, which are currently being deployed in ongoing implementations within the utilities, facilities, and ports verticals.

The company remains focused on its key priorities, including innovation, market expansion, and customer engagement, to ensure it is well-positioned for future success. Asset Vision is confident in its ability to sustain the momentum and continue driving revenue growth.