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POINTERRA LIMITED — Capital/Financing Update 2020
Oct 14, 2020
64255_rns_2020-10-14_4d8bd135-1cad-46f6-ad0e-e6b22f5836ce.pdf
Capital/Financing Update
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Pointerra Limited
ASX Announcement
15 October 2020
Enterprise Sales & ACV Update
Pointerra Limited (ASX: 3DP) (“Pointerra”; “Company”) is pleased to provide an update on enterprise sales activity during the September 2020 quarter.
Highlights:
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US Utilities and mapping sectors drive 72% quarterly growth in ACV
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ACV monthly growth of US$0.95 million (24% increase) over last reported (1 September) level of US$3.98 million
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ACV stands at US$4.93 million at 30 September, up US$2.06 million (72%) from 30 July level of US$2.87 million
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Pointerra remains profitable on an ACV run-rate basis
ACV Growth
During the September quarter, and since the Company last reported ACV (Annual Contract Value) on 1 September 2020, further growth in the spend by existing customers in addition to the onboarding of new customers in the US energy utilities and mapping sectors has combined to generate further uplift in Pointerra’s US$ ACV run-rate.
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Pointerra Limited | ABN 39 078 388 155 Registered Office: 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
Whilst the increase in spend by these existing and new utility sector customers across Pointerra’s suite of SaaS services; Data as a Service (DaaS), Analytics as a Service (AaaS) and Data Processing as a Service (DPaaS); was not individually material, the combined one month growth in ACV was US$0.95 million, representing a 24% increase during the month of September. ACV now stands at US$4.93 million as at 30 September 2020.
During the quarter, the Company welcomed new utility companies as customers; including Eversource Energy (Eversource) a US$32 billion market capitalisation energy company servicing customers in Connecticut, Massachusetts and New Hampshire; and Tennessee Valley Authority (TVA) a large federally owned corporation in the US servicing customers across the Tennessee Valley region.
A number of smaller new customer deployments were also made across the surveying, mapping, engineering, asset management and mining sectors in Australia and the US during the Quarter.
Continuing the trend from the Q4 FY20 quarterly, growth in spend by existing customers was also driven by a number of successful POC projects with utilities and their LiDAR and imagery capture partners in the US, resulting in a number of new, regular ongoing subscription customers across Pointerra’s entire DPaaS, DaaS and AaaS solution suite.
Following the successful completion of the POC with Pacific Gas and Electric (PG&E) during the quarter, Pointerra commenced enterprise deployment activities across a select range of PG&E business units. By accommodating PG&E’s restructure and recapitalisation process and current emergency fire response activities, instead of finalising a formal enterprise agreement with PG&E as previously foreshadowed, Pointerra is working collaboratively with PG&E management to expand the use of the Company’s platform in coming quarters.
The Company continues to invoice PG&E at least US$35,000 pcm for a mix of DaaS and AaaS subscriptions, which is expected to continue growing over time as more data, user numbers and analytics tools are deployed across the wider PG&E enterprise.
During the quarter Pointerra also continued to work with existing utility customers both directly and via their mapping partners across the US, including Florida Power & Light (FPL), Southern California Edison (SCE) and San Diego Gas & Electric (SDGE).
The Company invested further in recruiting additional people over the past quarter to further grow Pointerra’s capability in platform development and sales. Despite this investment, the continued growth in ACV keeps the Company in a profitable position on an ACV run-rate basis, with ACV run-rate revenue of US$4.93 million exceeding current recurring operating cost levels.
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Pointerra Limited | ABN 39 078 388 155 Registered Office: 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
Pointerra is emerging as an “employer of choice” destination in the global geospatial sector and the Australian and US leadership team will continue to selectively recruit and invest in further high-quality development and sales people in coming months and quarters, responding to sustained growth in customer acquisition coupled with the increased spend by existing customers.
The Company looks forward to informing the market of further growth in ACV as appropriate.
As in previous market updates, the Company again notes that quarter-on-quarter cash receipts may continue to be variable as new customers are onboarded with a variety of different payment cycles including monthly, quarterly, annually and even multi-year in advance agreements. Further, and as previously advised, any individually material DPaaS/DaaS/AaaS contract awards will be separately announced to the market as they are confirmed by customers.
This announcement has been authorised and approved for release to the ASX by the Board of Pointerra Limited.
ENDS
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Pointerra Limited | ABN 39 078 388 155 Registered Office: 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
For more information, please contact:
Ian Olson Managing Director, Pointerra +61 417 998 328 [email protected]
Paul Hart Canary Capital +61 421 051 474 [email protected]
About Pointerra : Pointerra is an Australian company focussed on the global commercialisation of its unique 3D geospatial data technology. Pointerra’s technology solves entrenched problems associated with digital asset management workflows and allows very large 3D datasets to be managed and analysed without the need for expensive and time-consuming high-performance computing. 3D data is processed and stored in the cloud by Pointerra for instant, on demand user access: anytime, anywhere, on any device – providing actionable 3D information to power digital asset management solutions across a range of sectors.
Common Q&A’s about Pointerra:
1. What do we do? We manage, analyze and monetize other people’s 3D data for them.
2. How do we make money? People pay us to manage their data, to develop or source analytics to make sense of their data and they even share revenue with us when we help them to monetize their data.
3. Why do people need us? 3D data is hard to manage, use, analyze and share. We have proprietary (patent protected) IP that enables us to do what we do better than anyone else.
4. Do we have competitors? There are lots of desktop solutions for 3D data and fewer cloud solutions. Most cloud solutions focus on visualization but the 3D data isn’t readily analyzed - either quickly and efficiently or at mass scale. Our IP allows us to do this better than anyone else – faster, with more accuracy and at lower cost.
5. Who are our customers? Anyone who is engaged in capturing (surveyors, drone operators, aerial and satellite mapping) or using (AEC sector, asset owners/operators/insurers/regulators) 3D data to plan, design, construct/build, operate, maintain, insure and govern/regulate a physical asset.
6. What sectors do our customers operate in? Linear infrastructure (road/rail/pipeline/transmission/distribution), non-process infrastructure (civil and builtform) and process infrastructure (mining/oil & gas/industrial manufacturing plant).
7. How much do people pay us? Our Data as a Service (DaaS) solution to manage 3D data using our digital asset management platform is priced based on the amount of data (in terabytes) we are hosting and the number of users each customer requires. We also charge customers to process their data (Data Processing as a Service or DPaaS), build/deploy analytics (Analytics as a Service or AaaS) to interpret their 3D data and, where we connect buyers and sellers of 3D data, we typically agree a revenue share via our 3D data marketplace.
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: 3D Data Solved.
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Pointerra Limited | ABN 39 078 388 155 Registered Office: Level 4, 216 St Georges Terrace, Perth WA 6000 T +61 8 6268 2622 | F +61 8 6268 2699 | E: [email protected]