- Aerometrex (AMX) secures a “significant” contract with an undisclosed Australian federal government agency
- The value of the purchase order comes to $1.88 million and comprises several areas of interest
- The company says this contract represents the largest single contract award within its laser imaging, detection and ranging (LiDAR) division
- The revenue will be recognised on the delivery of data for each capture area to the client, with the contract expected to be complete by June 30
- Shares in Aerometrex are up 5.49 per cent, trading at 48 cents as of 10:10 am AEDT
Aerometrex (AMX) has secured a “significant” contract with an undisclosed n Australian federal government agency.
The company told investors the value of the purchase order comes to $1.88 million and comprises several areas of interest.
The revenue will be recognised on the delivery of data for each capture area to the client.
Aerometrex CEO Steve Masters said the company is delighted to be awarded this work which builds on the sale of datasets to the Australian federal government in June 2022.
“This contract win validates the company’s decision to continue to invest in our LiDAR business through the acquisition and deployment of our fifth LiDAR sensor in Q2 of FY23 and represents the largest single contract award within our LiDAR division,” said Mr Masters.
“This aligns with our focus on building strong pathways to profitability and cashflows underpinned by the quality of the client.”
Delivery of all data is expected by June 30.
Aerometrex is an aerial mapping business which specialises in an aerial imagery subscription service MetroMap, (laser imaging, detection and ranging (LiDAR) and 3D.
The company operates its full range of services throughout Australia, while its 3D services are offered on a global scale.
Shares in Aerometrex were up 5.49 per cent, trading at 48 cents as of 10:10 am AEDT.