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AEROMETREX LIMITED — Capital/Financing Update 2021
Oct 21, 2021
64382_rns_2021-10-21_34b3f1d3-f8fa-4700-9143-c60822fcc80a.pdf
Capital/Financing Update
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22/10/2021
ASX Announcement (AMX)
METROMAP annual recurring revenue growth
MetroMap annual recurring revenue growing - 78% YoY to $4.94 million at 30 September 2021
Aerometrex Limited (ASX: AMX) provides an update on its MetroMap division.
MetroMap is Aerometrex’s Data-as-a-Service (DaaS) aerial imagery subscription offering, which builds on the Company’s extensive experience and expertise in aerial imaging. MetroMap provides subscribers with an Australia-wide archive of high-quality, accurate aerial imagery that is updated up to four times per annum for capital cities and annually for major regional and rural centres.
MetroMap annual recurring revenue (ARR) grew to $4.94 million at 30 September 2021, up 78% YoY (Q1 FY21: $2.77 million) and up 2.75% QoQ. Modest growth in the September quarter was largely attributable to a short term timing issue reflecting a number of deferred renewals, which are expected to be taken up in October.
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Aerometrex is extremely pleased with the market response to its national TV advertising campaign in September that has underpinned a surge in interest for MetroMap’s subscription aerial imaging service. The Company anticipates a return to more significant growth in ARR over the remainder of FY22 as these interest levels are converted to sales and revenue.
Aerometrex Managing Director Mark Deuter commented :
“Over the past 12 months, MetroMap’s annual recurring revenues have grown 78% to just under $5 million. This growth reflects increasing acceptance of MetroMap’s superior product offering to SME businesses where we have seen the largest growth in subscriber numbers.
“We are very pleased with the current level of market interest in MetroMap, and it is clear that customers are recognising its superior quality. With far greater capacity for capture frequency through the cessation of our aerial photography contract work, we are now not only providing our customers with a superior quality product but also up-to-date imagery capture.
“In addition, there are a number of technical initiatives being progressed as part of MetroMap’s product roadmap that we anticipate will deliver even greater value for our customers and drive further growth in annual recurring revenue.
“The internal review of our sales structure has been completed following the appointment of Alex Sinclair to the role of Chief Revenue Officer in June 2021. We expect that this will also further enhance the growth in new clients to MetroMap’s subscription service.”
This release is approved by the Board of Directors of Aerometrex Limited.
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ADDITIONAL INFORMATION
For further information, contact as below:
Mark Deuter Justin Foord Managing Director Investor Relations, Market Eye P: +61 8 8362 9911 P: +61 402 600 691 E: [email protected] E: [email protected]
W: https://aerometrex.com.au/asx-announcements/ MetroMap: www.metromap.com.au
ABOUT AEROMETREX
Aerometrex Limited is a geospatial technology company with a strong technical history as a professional aerial mapping business specialising in aerial photography, photogrammetry, LiDAR, 3D modelling and aerial imagery subscription services.
Aerometrex’s MetroMap Data-as-a-Service (DaaS) subscription business is now the company’s focus for sales of aerial imagery in Australia to an increasing client base. MetroMap offers high-quality, accurate, current, very high resolution aerial imagery to Australia’s cities and large regional towns.
The company also offers a world-leading 3D modelling service in Australia and the USA market, where we believe there is potential for strong growth. Our 3D models are recognised world-wide by the leading practitioners in this field as being market leading products.
Aerometrex also offers a state-of-the-art LiDAR mapping service in Australia, covering all aspects of LiDAR mapping from data capture through to the delivery of value-added products and data analytics.
The company listed on the ASX in December 2019 and has a clear strategy to provide value to its shareholders by providing geospatial data and analytics to a growing client base.