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POINTERRA LIMITED — Annual Report 2017
Aug 30, 2017
64255_rns_2017-08-30_c00f3719-c74e-449c-9a3a-389b06f262dd.pdf
Annual Report
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Pointerra Limited
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ASX Announcement
31 August 2017
Pointerra Preliminary Final Report
Highlights for the year ending 30 June 2017
-
Completed $5.0 million underwritten offer and readmitted to the ASX on 12 July 2016
-
Deployed patent-pending proprietary technology to the AWS cloud environment providing platform for globally scalable Data as a Service (DaaS) solution
-
Significant commercial and technical milestone met
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Further strengthened IP protection by lodging 2[nd] Patent application and progressing 1st Patent application
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Executed numerous reseller and partnership agreements providing additional globally distributed sales execution capability
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Developed considerable sales pipeline of end-user customers, resellers and technology licensing deals
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Successfully converted trial customers to revenue generating DaaS customers and grew sales capability with 2 key hires
Australian 3D data company, Pointerra Limited (ASX:3DP) (“Pointerra” or “the Company), is pleased to release its preliminary final report for the year ending 30 June 2017.
Software Research & Development
During the year Pointerra’s technical team continued to enhance the deployment of the Company’s innovative 3D data solution in the Amazon Web Services (“AWS”) environment.
The Company also achieved a significant commercial and technical milestone, being the release of a commercially saleable solution containing at least 100 billion points of 3D data, providing confirmation that Pointerra’s world-first technology had successfully passed the Class A Performance Share milestone hurdle.
Through a combination of Pointerra’s proprietary storage and visualisation technology and the massively scalable AWS cloud computing environment, the achievement of this milestone allowed the Company to begin scaling its DaaS
Pointerra Limited | ABN 39 078 388 155 Registered Office: c/-Westar Capital Limited, Level 4, 216 St Georges Terrace, Perth WA 6000 T +61 8 6268 2622 | F +61 8 6268 2699 | E: [email protected]
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Pointerra Limited
offering to trial and paying customers, as well as attracting technology licensing opportunities with leading regional and global geospatial sector players.
The AWS platform provides a globally distributed, low-cost, near-infinite data storage and processing capability, which in turn allows Pointerra to offer its DaaS solution to a range of customers and user scenarios at compelling price points.
From an IP perspective, the Company successfully progressed the 1[st] patent application (“Method & System For Computer Graphics Rendering”) through to successful PCT status, which allows Pointerra to now lodge formal patent registrations in countries of choice.
Pointerra also lodged a 2[nd] patent application (“Method & System for Storing and Retrieving Multi-Dimensional Data”) during the year, which is currently at PCT application status.
These patent applications form part of the Company’s overall IP protection strategy under the guidance of Chairman Graham Griffiths, who has considerable experience in the registration and defence of technology IP on a global scale.
Pointerra’s strategy for protecting its growing portfolio of intellectual property assets is also expected to create an ongoing pipeline of planned provisional patent applications as the Company continues to innovate and deliver world-class geospatial technology to a global audience.
During the year the Company also prepared for the lodgement of the annual R&D Tax Incentive claim, which was lodged subsequent to year-end, and is recognised as both income and a receivable in the 30 June 2017 accounts in the amount of $0.496 million.
Sales, Distribution & Licensing
During the year Pointerra attracted numerous trial customers to its world-first DaaS solution for 3D data in both the “surveyor & data capture professional” and “enterprise” channels.
In the 2[nd] half, the Company successfully commenced transitioning trial customers in the surveyor & data capture professional channel to revenue generating, recurring DaaS licence agreements.
This momentum and steady growth in the overall sales pipeline provided the impetus to recruit additional resources for the sales team, a process which commenced in June and resulted in the addition to two experienced individuals from roles with global geospatial giants Hexagon and Trimble.
Pointerra Limited | ABN 39 078 388 155 Registered Office: c/-Westar Capital Limited, Level 4, 216 St Georges Terrace, Perth WA 6000 T +61 8 6268 2622 | F +61 8 6268 2699 | E: [email protected]
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Pointerra Limited
The new sales recruits made an immediate impact with material incremental growth in the sales pipeline, particularly in the enterprise customer channel where higher DaaS subscription price points are generated.
Highlights of growth in the enterprise customer sales channel from the new sales recruits include the addition of government utilities (domestic and international) and global AEC (Architecture-Engineering-Construction) groups as trial licence customers, with conversion to revenue generating, recurring enterprise DaaS licence agreements occurring during Q1 of FY18.
Trial and paying customers are being drawn to Pointerra’s DaaS solution because our proprietary technology solves a significant asset management problem – the inability to manage, see, use and share valuable 3D data. Our solution is affordable, simple to implement and use; and offers significant ROI metrics, simplifying the sales process.
The sales pipeline currently comprises many hundreds of discrete opportunities with a significant combined value, underlining the message that Pointerra’s growth story will be one of successful sales execution.
During the year Pointerra also worked collaboratively with several global, regional and Australian tier-1 strategic partners from the geospatial, engineering, technology and aerospace sectors who are looking to embed Pointerra’s technology into their geospatial software, 3D digital asset management, data analytics and data capture offerings. These relationships will yield a mix of up-front licensing fee revenue and ongoing royalty based revenue for Pointerra based on sales of underlying software and 3D data.
Whilst progressing these relationships through to commercially binding, revenue generating agreements has proved difficult and time consuming, the prize is significant in terms of creating additional globally distributed sales channels that will generate both DaaS revenue and royalty income into the future.
Corporate
Following the successful completion of the $5.0 million underwritten offer, Pointerra was readmitted to the ASX on 12 July 2016.
During the year a range of corporate events transpired, culminating in a change of roles for Non-Executive Director Graham Griffiths who assumed the role of NonExecutive Chairman, effective 1 July. Pointerra’s evolution from technology development to a globally focused sales operation leverages the decades of international technology sales experience that Graham brings to the Company.
Retiring Chairman Rob Newman continues to support the Company as a NonExecutive Director, providing the Company with continuity and highly relevant international SaaS sector skills to support Pointerra's global ambitions.
Pointerra Limited | ABN 39 078 388 155 Registered Office: c/-Westar Capital Limited, Level 4, 216 St Georges Terrace, Perth WA 6000 T +61 8 6268 2622 | F +61 8 6268 2699 | E: [email protected]
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Pointerra Limited
The Company also secured voluntary escrow extension for a further 12-months commencing 30 June 2017 by the holders of nearly 52 million (previously 12-month escrowed) Vendor Ordinary Shares and just over 120 million (previously 12-month escrowed) Vendor Class A, B and C Performance Shares.
Outlook
Q1 of FY18 has seen rapid growth in the sales pipeline following the appointment of the expanded sales team and the Company looks forward with confidence to continued growth in monthly recurring revenue.
ENDS
For more information, please contact:
Ian Olson Managing Director +61 417 998 328 [email protected]
About Pointerra : Pointerra is an Australian company focussed on the development and commercialisation of its unique 3D geospatial data technology. Pointerra’s technology has solved an entrenched problem in the 3D geospatial sector and allows very large 3D datasets to be used without the need for high performance computing. The 3D datasets are processed and stored in the cloud for instant, on demand user access: anytime, anywhere, on any device. Pointerra’s vision is to create a global marketplace for 3D data, saving users time and money and creating a 3D data access revolution.
Pointerra Limited | ABN 39 078 388 155 Registered Office: c/-Westar Capital Limited, Level 4, 216 St Georges Terrace, Perth WA 6000 T +61 8 6268 2622 | F +61 8 6268 2699 | E: [email protected]
Appendix 4E Preliminary final report Year ended 30 June 2017
Rule 4.3A
Appendix 4E
Preliminary final report
Name of entity:
Pointerra Limited
1.
| 1. | ||
|---|---|---|
| ABN or equivalent company reference: 39 078 388 155 |
Reporting period: Year ended 30 June 2017 |
Previous corresponding period: |
| 39 078 388 155 | Year ended 30 June 2017 | Year ended 30 June 2016 |
2. Results for announcement to the market
| 2. Results for announcement to the market |
||
|---|---|---|
| $ | ||
| 2.1 Revenue from ordinary activities 2.2 Loss from ordinary activities for the period after tax attributable to members 2.3 Net loss for the period attributable to members |
up 100% to 552,986 down (53%) to (1,304,751) down (53%) to (1,304,751) |
|
| 2.4 Dividends |
Amount per security | Franked amount per security |
| Final dividend Interim dividend |
Nil Nil |
N/A **N/A ** |
| 2.5 Record date for determining entitlements to the dividends N/A 2.6 Brief explanation of any of the figures reported above to enable the figures to be understood: It is recommended that the Appendix 4E be read in conjunction with the Company’s ASX releases during the year in accordance with the continuous disclosure obligations under the ASX listing rules. Revenue from ordinary activities includes $4,635 of subscription income by paying customers as well as $496,376 of a Research and Development (R&D) refundable tax offset, as a result of the company’s continued efforts in developing its world-first Data as a Service solution for 3D data. |
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Appendix 4E Preliminary final report Year ended 30 June 2017
3. Consolidated Statement of Profit or Loss and Other Comprehensive Income
| Note Revenue Other income Expenses Administrative expenses Advertising and marketing expenses Compliance and regulatory expenses Research and development expenses Share based payment expenses Acquisition transaction expense Other expenses Loss before income tax Income tax expense Loss after income tax for the year Other comprehensive income for the year Total comprehensive loss for the year Net of tax attributable to members of the Company Loss per share attributable to members of the Company Basic loss per share (cents) Diluted lossper share(cents) |
Current Period Previous Corresponding Period 30 June 2017 30 June 2016 $ $ 4,635 - 548,351 - |
|
|---|---|---|
| (599,130) (15,000) (37,283) (5,283) (35,911) (13,688) (1,078,615) - (30,771) (811,842) - (1,891,727) (76,027) (20,124) |
||
| (1,304,751) (2,757,663) - - |
||
| (1,304,751) (2,757,663) - - |
||
| (1,304,751) (2,757,663) |
||
| (0.40) (3.16) (0.40) (3.16) |
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Appendix 4E Preliminary final report Year ended 30 June 2017
4. Statement of Financial Position
| Note Current Assets Cash and cash equivalents Trade and other receivables Other Total Current Assets Non-Current Assets Plant and equipment Other intangible assets Total Non-Current Assets Total Assets Current Liabilities Trade and other payables Borrowings Provisions Total Current Liabilities Total Liabilities Net Assets Equity Issued capital Reserves Accumulated losses Total Equity |
Current Period Previous Corresponding Period 30 June 2017 30 June 2016 $ $ 2,818,005 5,074,609 536,336 10,254 6,475 - |
|
|---|---|---|
| 3,360,816 5,084,863 |
||
| 60,768 4,873 46,011 - |
||
| 106,779 4,873 |
||
| 3,467,595 5,089,736 |
||
| 369,010 766,472 - 46,146 31,897 - |
||
| 400,907 812,618 |
||
| 400,907 812,618 |
||
| 3,066,688 4,277,118 |
||
| 5,728,469 5,662,919 1,408,902 1,380,131 (4,070,683) (2,765,932) |
||
| 3,066,688 4,277,118 |
||
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Appendix 4E Preliminary final report Year ended 30 June 2017
5. Consolidated Statement of Cash Flows
Cash flows from operating activities Receipts from customers Payments to suppliers and employees Interest and other costs of finance paid Interest received Net cash flows used in operating activities Cash flows from investing activities Payments to acquire property, plant and equipment Payments to acquire intangible and other assets Net cash on acquisition of controlled entity Net cash flows used in investing activities Cash flows from financing activities Repayment of borrowings Payment of share issue costs Proceeds from shares issued Net cash flows from financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
Current Period Previous Corresponding Period 30 June 2017 30 June 2016 $ $ 3,946 - (1,422,670) - (679) - 51,975 - |
|
|---|---|---|
(1,367,428) - |
||
(76,563) - (52,684) - - 75,478 |
||
(129,247) 75,478 |
||
(46,146) - (713,783) - - 4,999,031 |
||
(759,929) 4,999,031 |
||
(2,256,604) 5,074,509 5,074,609 100 |
||
2,818,005 5,074,609 |
||
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Appendix 4E Preliminary final report Year ended 30 June 2017
6. Consolidated Statement of Changes in Equity
| Issued capital Share-based payment reserve Accumulated losses Total $ $ $ $ Balance at 1 July 2015 100 - (8,269) (8,169) Loss for the year - - (2,757,663) (2,757,663) Other comprehensive income - - - - Total comprehensive loss for the year - - (2,757,663) (2,757,663) Transactions with owners recorded directly in equity Shares issued 6,931,050 - 6,931,050 Share issue transaction costs (1,268,231) - (1,268,231) Share-based payments 1,380,131 - 1,380,131 Balance as at 30 June 2016 5,662,919 1,380,131 (2,765,932) 4,277,118 Balance at 1 July 2016 5,662,919 1,380,131 (2,765,932) 4,277,118 Loss for the year - - (1,304,751) (1,304,751) Other comprehensive income - - - - Total comprehensive loss for the year - - (1,304,751) (1,304,751) Transactions with owners recorded directly in equity Share-based payments 65,550 28,771 - 94,321 Balance as at 30 June 2017 5,728,469 1,408,902 (4,070,683) 3,066,688 |
Issued capital Share-based payment reserve Accumulated losses Total $ $ $ $ Balance at 1 July 2015 100 - (8,269) (8,169) Loss for the year - - (2,757,663) (2,757,663) Other comprehensive income - - - - Total comprehensive loss for the year - - (2,757,663) (2,757,663) Transactions with owners recorded directly in equity Shares issued 6,931,050 - 6,931,050 Share issue transaction costs (1,268,231) - (1,268,231) Share-based payments 1,380,131 - 1,380,131 Balance as at 30 June 2016 5,662,919 1,380,131 (2,765,932) 4,277,118 Balance at 1 July 2016 5,662,919 1,380,131 (2,765,932) 4,277,118 Loss for the year - - (1,304,751) (1,304,751) Other comprehensive income - - - - Total comprehensive loss for the year - - (1,304,751) (1,304,751) Transactions with owners recorded directly in equity Share-based payments 65,550 28,771 - 94,321 Balance as at 30 June 2017 5,728,469 1,408,902 (4,070,683) 3,066,688 |
Issued capital Share-based payment reserve Accumulated losses Total $ $ $ $ Balance at 1 July 2015 100 - (8,269) (8,169) Loss for the year - - (2,757,663) (2,757,663) Other comprehensive income - - - - Total comprehensive loss for the year - - (2,757,663) (2,757,663) Transactions with owners recorded directly in equity Shares issued 6,931,050 - 6,931,050 Share issue transaction costs (1,268,231) - (1,268,231) Share-based payments 1,380,131 - 1,380,131 Balance as at 30 June 2016 5,662,919 1,380,131 (2,765,932) 4,277,118 Balance at 1 July 2016 5,662,919 1,380,131 (2,765,932) 4,277,118 Loss for the year - - (1,304,751) (1,304,751) Other comprehensive income - - - - Total comprehensive loss for the year - - (1,304,751) (1,304,751) Transactions with owners recorded directly in equity Share-based payments 65,550 28,771 - 94,321 Balance as at 30 June 2017 5,728,469 1,408,902 (4,070,683) 3,066,688 |
|---|---|---|
| Balance at 1 July 2015 Loss for the year Other comprehensive income Total comprehensive loss for the year Transactions with owners recorded directly in equity Shares issued Share issue transaction costs Share-based payments Balance as at 30 June 2016 Balance at 1 July 2016 Loss for the year Other comprehensive income Total comprehensive loss for the year Transactions with owners recorded directly in equity Share-based payments Balance as at 30 June 2017 |
Issued capital Share-based payment reserve Accumulated losses Total $ $ $ $ 100 - (8,269) (8,169) - - (2,757,663) (2,757,663) - - - - |
|
| - - (2,757,663) (2,757,663) 6,931,050 - 6,931,050 (1,268,231) - (1,268,231) 1,380,131 - 1,380,131 |
||
| 5,662,919 1,380,131 (2,765,932) 4,277,118 |
||
| 5,662,919 1,380,131 (2,765,932) 4,277,118 - - (1,304,751) (1,304,751) - - - - |
||
| - - (1,304,751) (1,304,751) 65,550 28,771 - 94,321 |
||
| 5,728,469 1,408,902 (4,070,683) 3,066,688 |
||
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Appendix 4E Preliminary final report Year ended 30 June 2017
7. Dividends (in the case of a trust, distributions)
| Date dividend is payable Record date to determine entitlements to the dividend If it is a final dividend, has it been declared? |
N/A |
|---|---|
| N/A | |
| N/A |
Amount per security
| Amount per security |
Franked amount per security at 30% tax |
Amount per security of foreign source dividend |
|
|---|---|---|---|
| Final dividend: Currentyear |
Nil | N/A | N/A |
| Interim dividend: Currentyear |
Nil | N/A | N/A |
Total dividend (distribution) per security (interim plus final)
| Ordinary securities Preference securities |
Current period | Previous Corresponding Period |
|---|---|---|
| N/A N/A |
N/A N/A |
8. Dividend or distribution plans in operation
N/A
The last date(s) for receipt of election notices for the dividend or distribution plans N/A
9. Net tangible asset (NTA) backing
| Current Period Previous Corresponding Period 30 June 2017 30 June 2016 $ $ |
|
|---|---|
| Net tangible asset backing per ordinary security (cents) | 0.81 1.31 |
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Appendix 4E Preliminary final report Year ended 30 June 2017
10. Control gained over entities having material effect
Name of entity (or group of entities) N/A
Consolidated loss from ordinary activities after tax of the controlled entity (or group of entities) since the date in the current period on which control was acquired
Date from which such profit has been calculated
Loss from ordinary activities after tax of the controlled entity (or group of entities) for the whole of the previous corresponding period
N/A N/A N/A
Loss of control of entities having material effect
Name of entity (or group of entities) N/A
Consolidated profit (loss) from ordinary activities after tax of the controlled entity (or group of entities) for the current period to the date of loss of control
Date to which the profit (loss) has been calculated
Consolidated profit (loss) from ordinary activities after tax of the controlled entity (or group of entities) while controlled during the whole of the previous corresponding period
Contribution to consolidated profit (loss) from ordinary activities from sale of interest leading to loss of control
N/A N/A N/A N/A
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Appendix 4E Preliminary final report Year ended 30 June 2017
11. Material interests in entities which are not controlled entities
The economic entity has an interest (that is material to it) in the following entities. (If the interest was acquired or disposed of during either the current or previous corresponding period, indicate date of acquisition “from dd/mm/yy” or disposal “to dd/mm/yy”)
| Name of entity | Percentage of ownership interest held at end of period or date of disposal |
Percentage of ownership interest held at end of period or date of disposal |
Contribution to | net profit (loss) |
|---|---|---|---|---|
| Equity accounted associates and joint venture entities |
Current period | Previous corresponding period |
Current period $ |
Previous corresponding period $ |
| Total | N/A | N/A | N/A | N/A |
| Other material interests |
||||
| Total | N/A | N/A | N/A | N/A |
12. Significant information
Any other significant information needed by an investor to make an informed assessment of the entity’s financial performance and financial position:
N/A
13. Foreign entities set of accounting standards used in compiling the report (IAS)
N/A
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Appendix 4E Preliminary final report Year ended 30 June 2017
14. Commentary on the results for the period
14.1 Earnings per security (EPS)
| Current Period 30 June 2017 |
Previous Corresponding Period 30 June 2016 |
|
|---|---|---|
| Basic EPS (cents per share) | (0.40) | (3.16) (3.16) |
| Diluted EPS(centsper share) | (0.40) |
14.2 Returns to shareholders (Including distributions and buy backs)
| Ordinary securities Preference securities Other equity instruments Total |
Current Period 30 June 2017 $ |
Previous Corresponding Period 30 June 2016 $ |
|---|---|---|
| N/A N/A **N/A ** |
N/A N/A N/A |
|
| **N/A ** | N/A |
The dividend or distribution plans shown below are in operation. N/A The last date(s) for receipt of election notices for the dividend or distribution plans N/A Any other disclosures in relation to dividends (distributions). N/A
14.3 Significant features of operating performance
N/A
14.4 Segment Information
The Group has only one reportable segment, being the development and commercialisation of its unique 3D geospatial data technology.
14.5 Report on trends in performance
N/A
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Appendix 4E Preliminary final report Year ended 30 June 2017
- 14.6 Report any factors which have affected the results during the reporting period or which are likely to affect results in the future, including those where the effect could not be quantified.
N/A
15. Compliance statement
This report is based on accounts to which one of the following applies. (Tick one)
¨ The accounts have been audited. ¨ The accounts have been subject to review. ü The accounts are in the process of ¨ The accounts have not yet been being audited or subject to review. audited or reviewed.
16. If the accounts have not yet been audited or subject to audit review and are likely to be subject to dispute or qualification, a description of the likely dispute or qualification:
N/A
17. If the accounts have been audited or subject to review and are subject to dispute or qualification, a description of the dispute or qualification:
N/A
Sign here: ............................................................ Date: 31 August 2017 (Director) Print name: Ian Olson
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