Veris Locks in $2M Across Rail, Energy and Road Contracts via Own Platforms

Veris secures over $2 million in new contracts across rail, energy and digital solutions

Veris Limited (ASX: VRS), a leading digital and spatial data advisory and consulting firm, has announced a suite of new contract awards with a combined value exceeding $2 million across four engagements spanning rail infrastructure, digital dilapidation reporting, road condition assessment, and energy pipeline survey.

A growing proportion of these wins are being delivered through the company’s proprietary digital platforms, Photo Navigator and RoadSiDe, rather than through traditional survey services alone. The awards reflect Veris’ continued penetration of Tier-1 clients and major infrastructure programmes across Australia.

Inside the four contract wins

The following breakdown covers each of the four contract awards announced on 29 May 2026.

Major metropolitan rail network — John Holland Group

• Veris contracted by John Holland Group to deliver specialist underground and above-ground rail condition intelligence services across multiple lines of a major metropolitan rail network, as part of a significant rail renewal programme.
• Scope includes large-scale 3D Ground Penetrating Radar (GPR), mobile LiDAR scanning, geotechnical investigations, and digital data hosting to assess track formation, subgrade condition, and above-ground rail assets.
• Delivery period: 6 months; project has already commenced.

Digital dilapidation reporting — new stadium precinct

• Engaged to deliver dilapidation reporting services across roads, footpaths, and verges ahead of new major stadium construction.
• Delivered via Veris’ Photo Navigator platform, producing a comprehensive, timestamped digital condition baseline with spatial navigation capability.
• Both field capture and platform delivery create opportunities for ongoing data hosting and repeat engagement.

Road condition assessment — Western Australian local government

• Awarded contract to assess approximately 500km of sealed road network for a Western Australian local government authority.
• Delivered via the RoadSiDe platform, integrating Mobile Laser Scanning (MLS) and image capture to produce detailed pavement condition, road geometry, and asset management insights.
• RoadSiDe provides clients with an interactive, data-rich digital environment to support maintenance planning and long-term asset management decision-making.

Gas pipeline survey — energy sector client

• Engaged to deliver cadastral, centreline, and feature surveys for a significant gas pipeline project.
• Purpose: locate the pipeline centreline and gather sufficient topographical data to enable detailed pipeline design by the client’s engineering team.
• Works commenced May 2026; delivery period approximately 4 months.

What proprietary platforms mean for Veris investors

For a traditional consulting firm, revenue is tied directly to billable hours and field crew deployment. Every dollar of revenue requires a roughly proportional dollar of cost. Platform-delivered contracts change that equation.

When Veris delivers an engagement through Photo Navigator or RoadSiDe, the upfront investment in building those platforms is already spent. As more clients adopt them, the incremental cost of adding each new project is lower than a traditional field-only engagement, which means margins can expand as the platform scales. The dilapidation reporting and road condition assessment contracts in this announcement are both examples of this model in action.

Tier-1 client wins, such as the contract with John Holland Group, carry additional weight for investors. They serve as independent validation of Veris’ technical capability, open pathways to larger, longer-duration programmes, and signal commercial credibility to prospective clients across the infrastructure sector.

Michael Shirley, Managing Director and CEO

“We are increasingly converting our pipeline into higher‑value, digitally enabled engagements, consistent with our strategy to scale proprietary platforms, drive margin expansion and build recurring revenue streams across diverse sectors. The contract with John Holland for a major metropolitan rail network is a strong endorsement of our integrated rail intelligence offering – combining 3D GPR, LiDAR and digital hosting in a single, end-to-end workflow. Alongside this, the pipeline survey wins and the continued traction we are gaining with our RoadSiDe and Photo Navigator platforms reflect the breadth of our digital and spatial consulting model. We remain focused on growing our digital project pipeline and delivering high-quality outcomes for clients across Transport, Energy, Government and Property.”

Forward workload and pipeline outlook

Veris enters this period of contract activity with strong forward visibility. The company’s secured forward workload stands at approximately $65 million, with a weighted opportunity pipeline exceeding $195 million over the medium to long term. The four contracts announced today add further momentum to that existing base.

Management is executing against four strategic priorities:

1. Scaling proprietary digital platforms across client sectors.
2. Growing advisory-led services alongside field delivery capability.
3. Expanding repeatable delivery models suited to multi-asset infrastructure programmes.
4. Maintaining disciplined capital and cost management.

Veris continues to target higher-value engagements across its four core sectors: Transport, Energy, Government, and Property.

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