VECTION CONTINUES MOMENTUM AND TCV GROWTH
VECTION ACHIEVES 215% QoQ CASH RECEIPTS GROWTH
Real-time software company Vection Technologies Ltd (ASX:VR1) (Vection Technologies, Vection or the Company) is pleased to update the market on its activities for the quarter ended June 2021 and as of 30 July 2021.
Highlights:
- 215% cash receipts growth, compared to the previous quarter, to ~$1M
- Continued strong growth in the month of July 2021, with ~$1M in cash receipts booked across the Company’s divisions (30 June 21 debtors: ~$3.1M)
- FY22 TCV~$1.8M further validates the Company’s Verticalization strategy and FY22 growth opportunity
- During the quarter, Vection assumed control of Blank Canvas and JMC Group via M&A activities, and operationally launched its Healthcare & Pharma division
- Company strategically positioned to drive unparalleled DX adoption globally with a strong enterprise solutions suite in VR, AR, 3D, Cloud Computing, AI, IoT and ICT technologies
- More than 100+ people globally servicing the European, American and Australian market
- Advisory Board established with Dr Haasis, former CIO of Mercedes-Benz, as its first member to drive growth in the automotive sector
- Company fully funded to deliver on its growth strategy with $6.3M of cash at bank
- Management to host an investor conference call on 4 August 2021 at 12pm AEST