All right, looks like that's about it. We'll uh we'll get moving.

Um good morning everyone and thanks for for joining us. Um FY26 at Asset Vision was a pretty significant year um, but it already feels like a long time ago.

FY27's well underway. Uh the pipeline continues to grow and we're seeing opportunities across our our four verticals.

Uh and we're about to add some great new people to our team as we scale. Uh today we'll take you through our FY26 results, but we also want to spend some time showing what Asset Vision has become and where we're heading next.

I'm joined by Damian Smith, our co-founder and co-CEO. Welcome Damian.

Vesna Jelesic, our CFO. Welcome Ves.

Hey. Uh

Gareth Thomas, our Head of Brand and Marketing, will also join us, and he'll manage our active Q&A today. At any time, uh click the Q&A at the top of the screen and enter your question into the window on the right hand side.

At the end of the presentation, we'll answer as many um as time allows. Let's get into the highlights.

FY26 was the year Asset Vision really moved uh into the scale-up stage. We've got a great product that meets the needs of our customers across a wide variety of asset verticals and FY26 showed that we could deliver.

There are four numbers we're really proud of. Uh the first is ARR growth.

Um we increased that by 46% this year taking it to $6.45 million, um creating a great start moving into FY27. Um importantly, that growth came from a healthy mix of new customers, expansion within existing customers, and growth across multiple verticals.

It wasn't dependent on one large contract or any one part of the market. The second number we're really proud of is our net revenue retention.

Um I know for a number of people that follow us, we reported 99% at half year um, and that's grown to 110% now. Um so that's that's really came from the expansion across all of our existing customer base um and re- renegotiation of long-term uh contracts.

Uh third one is cash. Um we grow, but it's not at any cost.

Uh we're still making sure that we're keeping our SaaS metrics strong. You can see our rule of 40 sits at 55 and that's allowed us on top of our revenue growth to continue to put money in the bank.

Um so we ended the year at $2.35 million in the bank and we've already grown that to $3.5 million as of yesterday. A really really good result.

Um from a customer concentration point of view, um the board has always been, very focused on making sure one customer um is not too much of our entire business, and we've done a really good job this year of of spreading that risk across new customers, and that's moved from 50% down to 35%. Look, I think in the next 12 to 18 months, we'll see that number move into the 10 teens, which, really de-risks um Asset Vision from a customer point of view.

Um every reporting period, uh I get asked about pipeline, um so we're going to start reporting it um every period now. Um our pipeline currently sits at $8 million.

That's the total of all deals in our pipeline, $4 million of those are are qualified. Um and when we say qualified, we talk about BANT.

Our customer has budget budget. We're talking to the the the person who has authority to buy.

Um there's a clear need for our our product, and there's a timeline around the opportunity um that's that's very very clear. Um that's not a static number.

This presentation was put together uh late yesterday. There's already been more deals uh moved into qualified as of this morning, it's it's pretty much a dynamic number.

Um but uh in in summary, a great a great year and we've got a really good foundation moving into FY27. Um let's talk a little bit more in detail about the numbers.

Ves, I might hand hand over to you.

No problem. Thanks, Lukas.

Um as Lukas has mentioned, FY26 was a strong um year of recurring revenue growth, but just as importantly, we strengthened the financial foundations and the delivery capability needed to support that growth. As you've seen, we finished the year with annual recurring revenue of $6.45 million, which was a significant step up from where we started the year.

The real story is the quality of that growth. We're building a larger recurring revenue base, which gives us greater visibility and predictability while creating a stronger foundation for future growth to compound.

We're not simply growing revenue, we're building a more valuable and scalable revenue base. At the same time, we made a deliberate decision to invest ahead of that growth.

You'll see our cost base has increased year on year and that's deliberate. We've chosen to invest ahead of the revenue curve rather than wait for that growth to arrive and to play catch up.

That investment has actually gone into our delivery capability, our technology, our operating platform, and importantly, our people, which includes recognizing stronger performance uh through STI and expanding the LTI participation across the team. Our objective is simple.

It's to make sure we have the capacity and the capability to support the scale of the business that we're building. I think this is really important where the EBITDA result comes in actually.

We haven't maximized short-term EBITDA at the expense of this growth. We've deliberately invested in the capability required to support the next phase of that recurring revenue growth.

Despite that investment, we're pleased to say that EBITDA has remained broadly stable at around $660,000. That's actually a really good outcome.

We've grown the business significantly, we've invested in the infrastructure and capability around it, and we've still maintained a broadly stable operating result. Um you can also see that discipline in our operating metrics down the side with licensing gross margin remaining or staying at 73%.

For us, these numbers just aren't things we watch from one year to the next. They're things that we're actively managing as we build the capacity of the business.

As we scale, we make we want to maintain the economics of the model. We're continuing to invest in the areas that create growth.

Um and then there's the balance sheet. As Lukas mentioned and as you can see, we finished the year with $2.35 million in cash.

We're entering FY27 with much more fi- financial capacity as well as that larger recurring revenue base. For me, the way I'd characterize FY26 is pretty simple.

We grew, we invested, and we actually maintained discipline. We now have a larger ARR revenue well, ARR base, we have greater delivery capability, a stronger operating platform, and a healthy balance sheet.

The real significance of FY26 is that we've built the capacity to support the growth that we've already delivered and we're now in a stronger position to scale that recurring revenue base further. Really, put simply, we grew, we invested, we didn't sacrifice discipline, we have financial capacity, and now we're better positioned to scale from here.

Thanks, Ves.

No worries.

We might move to the next slide. Thanks, Gareth.

Our vision and mission, these are two really important statements. Um I'll talk to the vision and and Damian can talk to the mission.

Um you can see on the left-hand side, we we do have global uh aspirations, but that doesn't mean we're going to rush offshore and start selling software uh straight away. Right now, just for context, what a global leader means for us is that when a large Australian government asset owner or their maintainers go to market for a solution, we are considered in the same way that they consider the large global leaders like SAP, IBM, ServiceNow, or Hexagon.

Um that's where we see being a global leader right now. It's being compared to the global leaders when we're competing in Australia.

Damian, do you want to touch on mission?

Thanks. Thanks, Lukas.

Um good morning and welcome to everyone who's tuned in. Um our mission is, as it says, to make asset management easy and more collaborative by building a platform teams love to use every day.

Uh that is the mission. It's been the mission since the the company was founded.

We build software that has a purpose, it it solves genuine problems, uh which people will actually want to come and use. Our our customers will pay us money to use it.

They'll rely on it, they'll depend on it every day, because it makes their life easier. Uh and this doesn't just create a great product it and and customers for life, but it helps provide great reference sites for us, uh case studies, testimonials, and this, in turn, attracts new clients.

Um, we've got customers that advocate for us during reference checks in in tender assessments. They want to tell their peers about how successful they've been working with Asset Vision.

Um, it's it's a really important mission from many angles and uh and we'll we'll continue to carry it out.

Great. Thanks, Damian.

We'll move to the next slide on our verticals. During FY26, we reorganized the business around four key verticals.

Our core verticals, which are transport and civic and community, where we have a great customer base already. Um and then we've added some emerging markets, which is the utilities vertical and the social infrastructure vertical.

When thinking about social infrastructure, think about uh public housing, schools, hospitals. They're the kinds of organizations that that sit within that vertical.

Uh this structure's given us much clearer accountability for both growth and delivery, with strong leaders now driving uh each vertical. Richie Taylor has joined us as Head of Transport, bringing significant industry experience from Downer, where he was involved in delivering some of Australia's largest road maintenance contracts.

James Essen has taken on the role of Head of Civic and Community. James has been pivotal to our recent growth and is already already building on that momentum in FY27.

James brings experience running assets at the City of Gold Coast, but also has a background of working with one of our major competitors. Chris Whitnall, who has taken a who has played a major role in our growing our business as Head of Sales, has moved into the role of Head of Emerging Markets.

Chris is focused on scaling our utilities and social infrastructure verticals, where we see significant long-term potential. Transport and civic and community remain our strongest and most established markets, and both continued to grow strongly in FY26.

In transport, we added the Tasmanian State Road Authority and Marine and Safety Tasmania, and we also continued expanding across major transport contractors, recently implementing um Asset Vision across three Victorian road maintenance contracts. In civic and community, we added 10 councils across four states, giving us a strong and increasing increasingly valuable base of of reference customers.

Utilities and social infrastructure are newer verticals for us, but we're already seeing genuine traction. Westernport Water is an important utilities win and a reference site, while Homes NSW gives us a significant presence in social infrastructure.

Just last Friday, we also signed a Tasmanian education provider with Asset Vision being rolled out to 38 schools across Tasmania. The strength of this model is that the same core platform supports all four verticals.

What changes is the industry expertise, the use cases, and how we take the product to market. That gives the benefit of real market focus without the cost and complexity of maintaining four separate products.

Let's talk about our customers in a little bit more detail. Um so our customers are predominantly state and local government asset owners and the organizations responsible for maintaining those assets.

Enterprise asset management systems are operationally critical and become the customer's system of record for its assets. Once Asset Vision is embedded into its day-to-day operations, those relationships tend to be long and very stable.

Down the right-hand side, we talk about why we win and it's it's it's pretty simple statement, but our our customers our customers love us um and as Damian mentioned, they regularly provide references and support us through competitive tender processes. Without strong customer references, you simply don't win major government contracts, and and we've done that really well.

I think at a recent tender we went for, we had eight customer references um and I'd like to find, probably a number of competitors that we have finding eight referenceable um customers. We're we're really proud of that.

Um Look, there's There's a number of reasons why we win. The platform is easy to use.

Um it's fast to deploy and cost-effective to deploy. Um but I think one of one of the big things about today is, we're Australian-based, we understand our customers, and Damian and his team are improving the product on a weekly basis, um not a yearly basis as as some of the competitors that we compete against.

Damian, I might throw to you to talk about the product in a little bit more detail.

Sure thing. Um, next slide, please.

Asset Vision, it's a it's an EAM, or enterprise asset management system, for everyone that doesn't know. Uh it's for, we we have clients in essential infrastructure.

Um these are clients that are owners or maintainers of uh roads, bridges, footpaths, buildings, parks, ports, water utilities now, airports. Um and so when you own assets at that scale, you you generally uh you will need a something like an EAM uh to track, inspect, and manage manage these assets over their life cycle.

Um and you will also generally uh outsource or award maintenance contracts to to service providers to to help you look after those assets. Um that's a that's a real big differentiator for us.

That's um one way our platform goes further than most traditional EAMs is that we actually connect the asset owners, service providers, subcontractors uh all together on the one platform as a single source of truth. Um traditionally, they all use their own systems, and really, it it's a struggle to to share data.

Uh the the vast majority of our our users are out in the field using our app, uh which has been built from the ground up uh to be easy to use and reliable, so that they can just focus on the job at hand rather than the the technology. Um and so yeah, we're really focused on connecting all all teams to to the platform.

Uh as as AV's been around for a while now, it's it is quite mature. It's It's got broad functionality to support our target verticals, like Lukas was saying.

Um and our clients use it to collect a lot of asset and operational data. Uh and so we're we're sort of seeing ourselves move into a phase of of really starting to empower our clients to turn that data into actionable insights.

I'll talk a little bit about that in a minute. Uh next slide, please.

AutoPilot, um it's yes, we are an EAM. Uh however, we've got a strong history in helping transport clients.

Uh so, that means we we developed innovative solutions beyond a typical EAM along the way. Uh so AutoPilot, the way it works is uh road inspectors, they're out there uh driving driving the road network, and we get them to mount their their iPhone on the dash.

There's no additional special camera set up or anything. It's just using uh standard smartphone.

Uh it it captures the photos of the road network as they're driving, and tracks their inspections and makes sure that they're they're driving the extents that they need to drive. Um and then they can play that back in the office, and we also use AI across these images to identify uh potential defects.

There's a lot There's a lot going on there, but first and foremost, it it is the safest method of performing a road inspection. Uh we we've got clients using AutoPilot in nearly every state now in in Australia.

Uh more recently, we were invited by NTRO and and Main Roads WA to participate in a trial across uh metro and regional WA. Uh Lukas volunteered to hit the road and and got to spend a uh a lot of a lot of time with the people on the ground in WA, which we think was was invaluable.

I I also joined him for the last leg, and it was it was great to get out there. Uh just before the WA trial, we actually finished off our new ride quality feature, which you can see uh pictured on on the screen here.

Um and this uses the accelerometer of the phone that's already there to capture movement, and then we sort of present it back to the user to um to review, as you can see here. Uh it sort of shows the the bumps and the smoothness of of the road, and that was great to get out there and field test it on on some of those unsealed roads in the in the region in WA.

Grab that next slide, thanks. We've been uh looking into this capability for for some time.

AI platforms have quickly become a really important part of our professional and personal lives. Um it's it's quite easy to pick up a ChatGPT or or a Claude or a Copilot and ask it questions and and get those answers.

Um and so given that AV's a wealth of data, and it's it just is a great platform at capturing data, and and while we do have our dashboards and our pre-defined reports and all of our reporting uh warehouse options for clients to build their own reports, um there really is no faster way to get answers than simply asking um something like a ChatGPT a a question and getting an answer a couple of seconds later. Um I think we've all experienced the joy of of asking those questions and getting some heavy lifting done.

It was a no-brainer to connect AV to these platforms, um which we're now connected in their marketplace. That is ChatGPT, uh Claude AI, and Microsoft 365 Copilot.

It's uh we've got it out with with customers now who are who are just loving it. They're integrating it into their daily practices, um and they're finding they're being much more productive, they can focus on on more important tasks.

Um so, yeah, look, we're really excited to see where this goes. Um we've already got big plans for what's around the corner.

Um and in general, I think it's no secret these AI platforms are really just going to change the way that we all interact with our software systems going forward and and uh yeah, AV's ready for it. Thanks, Lukas.

Beautiful. Thanks, Damian.

This is a really important slide for us. Um our people are a big part of our our organization.

Um we've had three years where we've had 100% staff retention, and we're really proud of that and it becomes a real differentiator. Our our people, as much of our platform, are the difference and the longer they stay with us, um the more experience they bring and their interaction with our customers becomes so much stronger.

Um we've put some solid uh STI and LTI incentives in place um and really aligning aligning our team to to long-term shareholder value. Um over the next uh 8 weeks, we'll add more members to the team um across account management uh and and delivery capability.

We'll continue to scale our team so we can ensure that we keep this momentum momentum going. Um our values are along the bottom.

Um we've got them up on the wall in the office. Um they're not just there because we need values, but we actually think they really show how we interact with our customers, we interact with each other, um and they're really important piece of fabric of of Asset Vision as a whole.

Um so yes, we've had a a great year. We're building a great team.

It's getting bigger and I think everyone's really excited about about the the coming year and years. Next slide, please, Gareth.

Um look, I I suppose I'll just sum up our strategy and and it's pretty simple. I think our immediate strategy is is just to keep doing what's working, but at greater scale.

Um so our focus is organic growth. It's about winning more customers, it's about expanding within existing accounts, but continuing to invest in the product and AI innovation that delivers real value.

Um we'll prioritize market share and revenue growth, but we'll remain disciplined um and we'll make sure that we have strong SaaS fundamentals, and most importantly, positive cash generation going forward. Um the second generation we've Oh, sorry.

The second horizon, we've kicked off already. Um so we're already moving into uh utilities and social infrastructure um and moving into new geographies.

Over the next 3 months, we will start to have people um on the ground in in WA. Um so we'll start to service more and more of the the western side of Australia, which we're starting to see some really good good momentum.

Um we've actually got some work going on at the moment looking at international um with our strongest capability, which is our transport capability. Um we're not rushing into it.

We're going to go through an exercise to make sure that we think about it in the smartest way and not just try and grow for the sake of growing internationally. Um so that work's up and running.

Um and then acquisitions. Look, they're they're not front of mind at the moment, but like any acquisition, if the right business came along, we we would look and assess um that business, but it would be um I suppose assessed against some key criteria that we have.

Um and and what we had in and we had those criteria in the half-year results. Um Next slide, Gareth.

Why Asset Vision? I won't read through every bullet point here, but the message is simple.

Um we've got a proven platform um with really good customer reference sites. Those customers are are becoming our best sales people.

Um you look in local government, it's a real contagion effect. You've probably seen that the customer map before, there's probably eight councils that are all using Asset Vision within 300 km of each other.

Um and and we're going to try and replicate that across across other states. Um we're building a really really strong team uh with with great industry experience, and we're really proud of that.

Um and it's a it's a it's a large and growing market. Infrastructure's everywhere, not only in Australia.

It's the one thing that just keeps getting invested in, and and we're right in the middle of it, which is which is pretty exciting. Um and I'll go to the bottom right-hand corner.

There's a lot of talk about AI out in the market and there's a lot of roadmap stuff. We've got AI in our customers' hands.

They're paying for it today. 4% of our revenue now comes from artificial intelligence, which is which is which is pretty exciting.

Um so we're um we started early, uh Damian and his team, their product- productivity is going through the roof um through the use of AI in in the development practices, it's a really um great time for the platform and accelerated development as well. Um So yeah, thanks for joining us today.

Um I can see there's one question over in the Q&A. Um the Q&A is now open um for posts if anyone wants to post any questions, but apart from that, um thanks for your time today.

Claude, I think we had a question from you. I'll just allow your mic.

You're good to go, Claude.

There you go. Hi.

Thanks for taking my questions and thanks for the presentation. Uh you can I've got a few, but just stop me, you can Um if someone else wants to put in a question, I'm happy to um let them go.

Sure. Um

the first thing I wanted to ask about was, okay, um just a an easy one to start with. You guys talk about um how, Damian mentioned, for example, how customers want to tell their peers about the success um with Asset Vision.

I'm really interested in understanding the role that word of mouth is having. You've alluded to it multiple times, the what is the role word of mouth is having in you having unlocked this organic growth, and then to that end, just in order to dig in more, could you please share your perception of how Asset Vision products are perceived by the market, both existing customers and potential customers?

In and I specifically am interested in in both one strength in terms of how you're perceived, but also one weakness if you if you'd be able to share that.

Sure. I might I might take that for a start.

Um thanks, Claude. Word of mouth is playing a really big part um not only in um our organic growth, but it's also allowing us to get to tenders before they come to market, because there's a couple big tenders going around Australia at the moment, and because the word of mouth is is is out there at the moment, we're being able to play a part in those tenders before they come to market, we can actually influence tenders um, which is which is really really important for us.

It It's really strong in local government. Um local government like to learn um from each other, um so we're seeing some really good, I suppose, collaboration between our existing clients and potential clients.

Um so so that contagion collaboration in in that market in particular is is really important.

Right. Like, uh strength and weakness?

Look, a strength is our platform meets the needs of every every user in uh in one of our customers. Whether you're an asset um planner, whether you're an engineer, whether you're managing capital works, whether you're managing uh maintenance teams, whether you're an asset accountant, Asset Vision now has all the functionality that you need to do your job in a very very simple way.

Um and in a simple way, that means we can configure the platform the way our customers want to work, not the way the system stipulates you need to work. The our customers are really enjoying that.

Um What's What's a weakness to our um to our platform at the moment? Um I don't perceive any weaknesses.

Damian, you might want to want to chip in. What What's your thoughts on a weakness?

Yeah. Um I was I was thinking about that.

It's It's one of It's one of those hard things, but I think um that the strength that you that you just mentioned that uh we're the platform is so configurable, it we we go with a in with a client and they they tell us all their challenges, and we we configure it to suit how they want to work. Um sometimes, we're our own worst enemy in that way.

Like, we can we can take on too much. Um we can allow, I suppose, um a client to uh put put everything into into Asset Vision, and it's because they can.

We It's something like it's not a product weakness, it's it's probably just more of um something that we need to uh when you watch a little bit more closely in how how we implement, I think. Um, but yeah, it's it's I'm I'm trying to think of uh another type of Yeah,

that's actually really That's a really That's a really uh useful answer, which leads onto another thing I'm curious about, which is please talk to me about implementation times. Because this can be an incredible area of focus, right?

This is one of the ways that you could differentiate yourself. Like, but also the more you like Basically, my question is, are implementation times getting shorter?

Is some Is that something you're thinking about or targeting? Like can you talk me through the how you're thinking about that, Damian?

Because you're only a few years into getting this sort of fast growth. That's a big switch in implementation workload, I guess.

Uh as we as Local government's a really good example, because they're all quite similar. Yes, they have their nuances and they all do things slightly differently, but at the end of the day, they're managing sort of council-owned assets.

They've got a certain amount of asset classes and and whatnot. Um so we are sort of learning from, each each uh implementation that we do to sort of have a better blueprint, I suppose, to take our clients through uh when we onboard them.

Um I suppose that whole um the mission that I was talking about before, which is kind of infused into our DNA about, let's let's help our clients as much as possible. Um, that can get out of control if you if you don't sort of um focus just cuz the platform can do so much.

Um yeah, we're trying to, I suppose, onboard them in in in uh I guess waves, I suppose, they can get up and running as soon as possible, and then come back and and sort of add another asset class and and get that up and running. We kind of unlock the uh a shorter implementation time, and and they just get up and running quicker so that um uh then we can focus on what worked with that and and what would you like to improve, and it's sort of iterative.

I don't know if that answers question, Claude. Um

yeah, that does answer it. The way it works would be like you you get them on the first thing that perhaps is the greatest need, they'd start paying for that, the cash starts flowing for that, and then, you're looking at trying to increase them from there, which is showing up this year in the in the net retention rate being 110% or whatever it was.

Yeah. Yeah.

That's that that's correct. There's a really good example at the moment um in WA, Claude, where there's a council customer, they started off with a a basic Asset Vision subscription um with a minimum a- amount of users.

Um they are now, really exploiting the platform. They've gone all the way.

They're actually using it outside of asset management now. An example is health inspections of restaurants and things like that.

They They love using Asset Vision's mobile capability and form building um that they've taken it into whole new use cases that that we didn't even know about. Um and and the great thing about, customers and word of mouth and and collaboration is that council will now talk to the next council and that's how we're growing um

Okay, I need to zoom in on that point.

from an expansion point of view.

Thank you. I need to zoom in on that point, though.

Um In In terms of Uh. How do I put this?

In terms of those customers, right, where um they're finding new use cases, how do you charge them? Like are you capturing upside for that?

Um is it usage-based or something like that?

It is. Yep, it's it's it's user user charge.

It So

revenue will automatically go up just as they find more uses. You don't have to do anything, renegotiate anything or anything like that?

That's correct. That's correct.

Great. Uh so look, obviously in terms of this organic growth story, it's music to my ears what I'm hearing.

However, um an academic point, but and I appreciate and I'm not criticizing at all the taking the opportunity to reinvest to cause this growth. It's great.

It's not a criticism of that at all, but I'm also mindful that consistently achieve achieving a a track record of a statutory profit over a few years massively broadens the um appeal of Asset Vision shares to investors just because there's so much capital that is essentially, for example, looking for profitable companies. The difference between making a loss of 100k or 300k for 3 years or 4 years and the difference between um making a small profit, it it can be significant from the share price.

Now that doesn't matter if you don't need to raise capital, but I'd just love to know how you're thinking about, that tension between trying to move that statutory profit forward, but at the same time just reinvesting in the opportunity you have at the moment.

It's a great question, and and it is tension and we talk about it at board all the time. I know Damian and Ves are smiling.

It's really It's a question is what creates value for Asset Vision? Is it growing our market share and stopping, big global players coming into Australia?

Is that what makes Asset Vision valuable or is it becoming a profitable software company? We are, the there's there's arguments for both, Claude.

Um there's there's no doubt that we are, poking the bear, I let's call it, out there. There's some big players that just can't crack into the Australian market now um because Asset Vision is standing in their way.

Um so that's

That leads me to part of this tension, right? One of the downsides of not growing growing your profit might be that you're even though you don't need capital to grow and you're growing and everything's going really well, your share price is quite low.

Then, one of those big guys comes in, they make a takeover offer for 50% above the This has happened so many times to me, okay? Then, well you have the thing that is rare as hens' teeth are honest, quality Like I obviously I don't I've only been watching you for a couple of years, but you very rarely come across strong organic growth, word of mouth is the cheapest customer acquisition you can get on planet Earth, and honest, competent management is also very rare.

You can have a great business, if they don't want to share it with shareholders, well, you're going to lose in the end. Um if you find this rare thing, what you really want to do is have it compound for 10 years, not make a quick profit after 2 years.

The risk is, if you don't go to profit, then the share price stays quite low and one of these big guys that want to get in on Australia, they just take over. I'm sure you guys will do well out of it and no one will complain or hate you, but like you might miss out on the thing that is truly amazing.

Yeah. No, look, yeah, we hear you loud and clear, and I I think to to give you um confidence that we're focusing on profit.

Um up until this point, our our STIs have been based around annual recurring revenue. This year, in FY27, we are having a a a a profit element to our STI.

That's really going to be changing the focus um of of of of Asset Vision, um and and really, getting us moving towards profitability.

Cool. Also, I just wanted to let you guys know, for me the actual the text chat box on um Teams was turned off, like I couldn't put it on.

Also, I've got a couple of messages other people might be in the same position. In case there are other questions, I don't know if if you can check that or whatever.

Yeah. No, there's a couple coming through now.

It looks like that we turned that on halfway through. Yeah.

Yeah. Cool.

Um yeah, people might have to rejoin if it didn't work for them. Cool.

All right. Um the other thing I wanted to say is, I love that you said 4% of your revenue comes from artif- artificial intelligence.

It is so rare to see a company that actually says, "This is how much revenue we made out of that." Just a quick question on that, like I absolutely love it, but the quick question on that is like, is that profitable revenue, or is that just kind of like reselling and then you have to put all the money out into a um whatever you have to pay them?

No, that's profitable revenue, so that's coming from AutoPilot

um with our

with our maintainers and and state government um uh customers.

Cool.

Thanks, Claude. There's a few other questions.

I might just

um Go to other people.

Thanks

for answering my questions. I I I hugged a lot of time there.

Thanks a lot. Bye.

Beautiful. Thanks, Claude.

Um we've got a question from Richard. Thanks, Richard.

Um and the question is, "What are the threats that are coming from AI?" Um I Yeah, we've got what's our AI strategy.

Look, I think um we're seeing AI as a complement to Asset Vision at the moment. I think from from our platform's point of view, we are the system of record for for our customers and and their asset and maintenance data.

Um so we're seeing a really good opportunity in working with AI at the moment. That's where Damian and the team have put together the connectors for uh ChatGPT, etc.

Um because as like AI is only as good as the data in our customers' um um environments. Um so that's that's been really um our focus is is to connect to our platform, understand where the data's not perfect, help our customers improve their data so they can get the most efficiency out of AI.

Um Damian, you want may want to talk to how AI is being used to accelerate product development.

Sure. Um so so yes, we we are we have a we have a small but steady uh dev team here, um and we instead of uh I guess adding additional people in um headcount to that dev team, we've been able to use AI to to kind of, I guess, give us that boost in in productivity.

Um and it's been it's been incredible, we've we've slowly integrated um I guess AI dev practices into into the team uh throughout the course of this year. Uh and it's it's really accelerating um our plans of of where we want to get to.

Um so, yeah, it's it's been it's been really good. Um and we don't see uh any we're not planning on reducing headcount or anything like that um in our dev team because of AI.

Uh

another question from Richard was, "Could AI be used by competitors to accelerate their products, perhaps informed by the features of Asset Vision?" I I think I think the short answer is yes, abso- absolutely.

Um I think uh competitors could do it, startups could do it. I think the thing we have at the moment is that moat which we talked about.

We have highly referenceable customers um in in our verticals. Um Yeah.

which is making it very hard for new players um to to get into those those customer sets. Um And the last question was, "Could organizations like"

Can I answer that?

Go for the last one. Yeah.

Yeah. Just the last question about Google, how they already capture Street View images.

Like they're not regularly driving around um capturing capturing those images. Um I guess yes, they could could do uh sort of AI insights through through Gemini or something like that if they had access to regular images, but um the the our clients are driving roads, daily uh and so so we've just got much much more data um than Google, who will maybe be a couple of years or more before they drive down down a council road.

Uh it's quite it's quite different.

Beautiful. Sean's got a question around typical council tendering processes.

Are councils required to have open tenders for your contracts and what is the typical contract length? Um Short answer is yes, every council has to go to market um with an open tender.

Um It's very rare. Um Sometimes there'll be a a a selective tender where we'll get invited to to that that tender um process, but um generally there's also always a process that that we have to go through.

Um and that process could take 3 to 6 months um from that tender coming out to us starting on the ground. Um The typical contract length, our last four contracts have been generally uh 3 years initial contract with um 2+2 extensions.

Um That's That's the general um contract profile. AT uh Yeah, great great great question.

Look, in transport with state government, we've now got four state governments using Asset Vision, New South Wales, Victoria, South Australia, and Tasmania. Um We were up in Queensland last week at the TMR conference.

We're actively talking um with Western Australia. Four out of six of the big state governments in the in the transport space.

We're very early on in local government. I think there's 500-odd councils across Australia.

Um We're at 20, um the sums on that, we've we've got a big opportunity in the in the council space um um moving forward. Wonderful.

That looks like that's all of the questions for today. Um If there are any other questions, always feel free to reach out to us um at Asset Vision.

Just just give us a call. We're We'll We'll always take the call, um yeah, don't don't um don't hold back.

Um Thank you, Vesna. Thanks, Damian.

Um Thanks, Gareth, in the background for for today. Um We look forward to updating you um as soon as we have some news.

Have a great day.

Thanks all.

Thanks everyone.