Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Vection Technologies Ltd. ( (AU:VR1) ) has issued an announcement.
Vection Technologies Ltd has signed a $2.6 million agreement with Area12 Consulting to co-develop an AI-driven safety compliance platform called SAFE-XR for an industrial client in Italy. This collaboration, which builds on a previous $0.5 million annual software agreement, highlights Vection’s growing capabilities in AI and XR solutions for industrial safety and automation. The project strengthens Vection’s position in AI-driven compliance amid increasing global regulations, offering a scalable solution that integrates smart glasses for hands-free inspections and real-time voice interaction. Revenue from the agreement will be recognized in phased milestones throughout FY26, with a three-year support term.
More about Vection Technologies Ltd.
Vection Technologies is an enterprise-focused company that bridges the physical and digital worlds by leveraging 3D data through extended reality (XR) interfaces. These interfaces are designed to enhance collaboration, learning, and sales growth. Vection Technologies is listed on the Australian Securities Exchange under the ticker code VR1 and trades on the U.S. over-the-counter markets with the symbol VCTNY.
Average Trading Volume: 8,162,391
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$42.42M
For an in-depth examination of VR1 stock, go to TipRanks’ Overview page.