Core Insights - ADIF, the Spanish public entity managing the national railway network, has extended its contract with Virtualware for over €800,000 to continue the operation and enhancement of its Railway Infrastructure Training Simulator (RITS) for four years [1] - RITS utilizes the VIROO platform to provide immersive training in railway operations and maintenance, accommodating multiple users simultaneously and training approximately 1,000 new workers annually [2][5] - The solution has gained international recognition, winning a Bronze award at the 2024 Brandon Hall Group Awards and being showcased at the UIC World Congress on Railway Training in 2025 [3] Company Position - The contract extension reinforces Virtualware's position in the public sector, with the company reporting record bookings exceeding €8 million in 2025, primarily from government and nuclear projects [5] - Virtualware, founded in 2004, specializes in enterprise software based on immersive and 3D technologies, serving a diverse range of global organizations and institutions [6] - The company is headquartered in Bilbao, Spain, with additional offices in Orlando, Toronto, and Skövde [7] Industry Trends - The continued commitment of ADIF to VR-based training reflects a broader industry trend where rail operators are increasingly adopting simulation technology to manage workforce turnover and enhance knowledge transfer without disrupting live operations [5]

Core Insights - Virtualware closed 2025 with record bookings exceeding €8 million, primarily from government and nuclear projects, positioning the company for future growth [1] - The company reported €4.32 million in revenue for 2025, a 2.85% year-over-year increase, with an EBITDA of €598,509, reflecting a 13.8% margin [2] - Operating costs were managed effectively despite a 22.55% increase in personnel expenses to €3.20 million, attributed to the acquisition of Simumatik [3] Financial Performance - The company's current assets at year-end were €9.09 million, with current liabilities of €6.85 million, indicating a solid financial position [6] - Net financial debt stood at €2.70 million, with a Net debt/EBITDA ratio of 4.53x; however, a payment of €6.22 million received in January 2026 improved the pro forma net cash position to approximately €3.51 million [7] Business Model and Strategy - Virtualware's business model has proven resilient, allowing for integration of acquisitions and international expansion while maintaining strong profitability [5][6] - The company focuses on developing its proprietary VIROO technology, which is utilized in various sectors including energy, nuclear, and defense [4][8]

Core Insights - Virtualware has appointed Stephanie Smith, a Canadian nuclear engineer with over 35 years of experience, to its international advisory board, effective immediately for the 2026 fiscal year [1][2]. Company Strategy - Smith's appointment is part of Virtualware's strategy to enhance its leadership in Virtual Reality applications within the nuclear energy sector [4]. - The company has been developing advanced training systems for nuclear plant operators in collaboration with GE Vernova Hitachi Nuclear Energy for eight years [5]. Industry Context - The nuclear energy industry is experiencing increased demand for clean, reliable baseload power, with major economies investing in new builds and life extensions of existing plants [7][8]. - According to the International Energy Agency, nuclear capacity is expected to reach record levels by 2025 [8]. Company Achievements - Virtualware's Fuel Movement Simulator, built on its proprietary platform VIROO, has received a Brandon Hall Group Gold award for Best Advance in Augmented and Virtual Reality [6]. - The company has achieved B Corp certification, highlighting its commitment to sustainable innovation and responsible growth [9]. Company Background - Founded in 2004, Virtualware serves various global organizations and institutions, including GE Vernova, Petronas, and the Spanish Ministry of Defense [10]. - The company acquired Swedish firm Simumatik in October 2024, expanding its capabilities in digital twin and simulation technologies [11]. - Virtualware is listed on Euronext Growth Paris and had a market capitalization of €32 million as of the last trading session [12].

Group 1 - Virtualware has signed a contract worth over €5 million to implement its VIROO platform in 66 Centres of Excellence for Vocational Training in Spain [1][2] - The six-year agreement positions the VIROO platform as central to Spain's national strategy for enhancing Vocational Education and Training (VET) [2] - The new VET Centres will add to the existing 25 centres already utilizing the VIROO platform across Spain [2] Group 2 - The CEO of Virtualware, Unai Extremo, emphasized the importance of this initiative for growth and pedagogical innovation, aiming to enhance students' technical skills through immersive technology [3] - Virtualware, established in 2004, is recognized as a leader in immersive and 3D technology solutions [4] - In October 2024, Virtualware acquired Simumatik, enhancing its capabilities in digital twin and simulation technologies, aligning with its strategic plan for key industries [5] Group 3 - The company's strategic plan for 2024-2026 includes expansion into North America and a focus on both organic and inorganic growth [5] - Virtualware's client base includes notable companies and institutions such as GE Vernova, Petronas, and various universities [6] - The company operates from its headquarters in Bilbao, Spain, with additional offices in the US, Canada, and Sweden [6]

Core Insights - Ohio University, HTC VIVE, and Virtualware have partnered to launch the Digital Enterprise Collaboratory (DEC) to support advanced manufacturing in Ohio [1][2] - The DEC will enhance Ohio University's engineering education and workforce development through real-time collaboration using XR technologies [2][4] - The program aims to address the demand for new factory workers and prepare the local workforce for advanced manufacturing jobs [3][4] Partnership Details - The collaboration combines Ohio University's engineering expertise, HTC VIVE's XR technologies, and Virtualware's VIROO platform [2] - The DEC will facilitate product development and research by connecting university, industry, government, and Department of Air Force Research Laboratories members [2][4] Infrastructure and Facilities - The DEC will consist of two laboratories located at Ohio University's Athens Campus and the OHIO facility in Dayton [5] - These labs will be equipped with virtual reality tools and connected through the VIROO platform, enabling real-time collaboration and project sharing [5] Workforce Development - The initiative is expected to help meet the estimated demand for 7,000 new workers in advanced technology factories being established by companies like Intel and Anduril [4][5] - Ohio University will expand its existing manufacturing training and certification programs to support this workforce demand [3] Event and Launch - The DEC will officially open on May 5 at the Athens Campus and on May 7 in Dayton, coinciding with the Dayton Digital Transformation Summit [6]