London, UK, 29 November 2022 Vection Technologies (VR1):...

London, UK, 29 November 2022

Vection Technologies (VR1): Enterprise-grade metaverse

Vection Technologies (ASX:VR1) is an Australia-based company that operates in the field
of extended reality (XR). Through its immersive solutions suite, IntegratedXR, Vection
Technologies provides the foundation that clients need to engage with the metaverse, and
focuses on completely integrating client systems, operations and technologies. We see the
company building on its recent growth (FY22 revenue up more than 440% over FY21) and
growing FY23 sales to AUSD26.1m, driven by Vection Technologies' entry into new
verticals, geographic expansion and several recent acquisitions. FY23 could mark an
inflection point for the company and we will be watching the XR space closely.

Vection Technologies trades at 1.9x FY23e EV/revenue, a 63% discount to its small-cap
peers.

Using the average small-cap peer multiple of 5.1x implies a share price of
AUSD0.13 or c 150% upside. At the overall peer average of 7.2x, it would reach AUSD0.18
or more than three times its current price. Achievement of our forecasted 38% FY23
revenue growth and successful execution of its strategic plan could lead its shares to
trade at a premium to its more mature peers. Click here to view the full report or here
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