- Aerial mapping company Aerometrex (AMX) delivers its financial guidance for the 2022 financial year
- The company expects to report between $21 and $23 million in revenue across its Australian and US operations which would be a slight increase on the $20.9 million in FY21
- Annual recurring revenue for its MetroMap aerial imagery data service is expected to be between $6.5 and $7 million, up from the $4.8 million announced for FY21
- Lastly, Aerometrex expects EBITDA of between $4.5 and $5.5 million which includes the sale of its corporate head office and the value of employee share options granted in FY20
- Company shares are trading 13.6 per cent higher at 25 cents at market close
Aerial mapping company Aerometrex (AMX) has announced expected financial results for FY22.
Aerometrex expects to report group revenue of between $21 and $23 million for its US and Australian operations. This would represent a slight increase to the $20.9 million group revenue achieved in FY21.
The company attributes strong revenue growth to its LiDAR division following its investment of a fourth LiDAR sensor during the 2021 financial year.
Its US operations, which focus on AMX’s high-resolution 3D modelling product have delivered its first “significant” contribution to revenue during FY22 and will be an area the company will continue to focus its efforts on.
In terms of its Australian operations, the subscription division continued to transition from project aerial photomapping work towards the recurring revenue subscription model of MetroMap.
As a result, annual recurring revenue (ARR) for MetroMap is expected to be between $6.5 and $7 million for FY22, up from $4.8 million as of June 2021.
The company also expects to report earnings before interest, tax, depreciation and amortisation (EBITDA) of between $4.5 and $5.5 million for the financial year.
The EBITDA guidance includes the sale of Aerometrex’s corporate head office last January and the value of employee share options granted in FY20.
“I’ve been pleased to observe the broad ranging capability within our organisation and matched with strong customer demand and interest across our products in Australia and internationally, I’m extremely excited about the company’s opportunities,” CEO Steve Masters said.
Moving forward, Aerometrex is focused on positioning itself to manage cashflow, increase efficiencies, maximise assets and enhance growth opportunities to ultimately drive business performance and deliver profitable outcomes.
Company shares were trading 13.6 per cent higher at 25 cents at market close.