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Vection Technologies Ltd. ( (AU:VR1) ) has shared an announcement.
Vection Technologies Ltd has announced that its recently acquired generative AI specialist, The Digital Box S.p.A. (TDB), has secured an additional $0.6 million in annual recurring contracts, bringing TDB’s total recurring revenue to $1.3 million. This achievement underscores the market’s confidence in Vection’s generative AI products and highlights the company’s successful strategy of integrating advanced AI with extended reality to meet digital transformation needs across various industries. The new contracts involve 14 clients, including notable agreements with NexyLab and Sella GenAI, and demonstrate the adaptability of Vection’s integrated solutions.
More about Vection Technologies Ltd.
Vection Technologies is an enterprise-focused company that aids businesses in bridging the physical and digital worlds through extended reality (XR) interfaces. These interfaces help organizations leverage their 3D data to enhance collaboration, learning, and sales. Vection Technologies is listed on the Australian Securities Exchange (ASX) under the ticker code VR1 and trades on the U.S. over-the-counter (OTC) markets under the symbol VCTNY.
YTD Price Performance: -33.33%
Average Trading Volume: 5,722,451
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$30.61M
See more insights into VR1 stock on TipRanks’ Stock Analysis page.