Urbanise.Com Limited (ASX:UBN)

ALERT: Price-sensitive ASX Announcement for UBN

Current share price for UBN : $0.665 0.015 (2.31%)⁺

Announcement

Board Update, Product Launch and Commercial Update

Release

26 May 2026 8:30AM

Price at Release

$0.650

Full Release

Summary

Urbanise.Com Limited announced key updates including the appointment of Darc Rasmussen as Executive Chairman to increase their executive capability, and a search for a new Chief Product Officer. Non-Executive Director James Hourn will be stepping down once a replacement is found. The company launched its AI product, Urbanise AI, at a major industry conference, with its first release expected by June 2026. Efforts to convert a significant portion of the strata market from legacy systems are underway, with two new contracts signed. Despite expected negative cash flow in FY2026, a return to positive cash flow is anticipated in FY2027.

Key Points

Darc Rasmussen appointed as Executive Chairman to expand executive capability.
Search for a new Chief Product Officer is underway.
Non-Executive Director James Hourn to step down after a successor is appointed.
Launch of Urbanise AI at Strata Community Association Australasia Conference.
First AI product, an AI Assistant, to be available by June 2026.
Strategy to convert over 40% of the strata market from legacy systems in progress.
Two new contracts executed, totaling $700k in value over three years.
Expected negative operating cash flow for FY2026 with a return to positive expected in FY2027.

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.