- Aerometrex (AMX) has bolstered annual recurring revenue (ARR) for its MetroMap business segment by almost 400 per cent over the March quarter
- The aerial imaging company said ARR for MetroMap was $4.26 million at the end of March 2021 — 398 per cent higher than the same time in 2020
- The result is also 28 per cent higher than MetroMap’s ARR at the end of December 2020
- While Aerometrex offers a range of aerial imaging service, the MetroMap data-as-a-service (DAAS) subscription business has been the company’s main sales focus for the past 18 months
- MetroMap offers subscribers an archive of high-quality aerial images of the whole of Australia in either 2D or 3D
- MetroMap’s newest customers come from a variety of industries including utilities, government agencies, insurance businesses and engineering firms
- Shares in Aerometrex are trading 14.62 per cent higher this afternoon at 98 cents per share
Aerometrex (AMX) has bolstered annual recurring revenue (ARR) for its MetroMap business segment by almost 400 per cent over the March 2021 quarter.
The aerial imaging specialist told shareholders today ARR for MetroMap was $4.26 million at the end of March 2021 — up 398 per cent compared to the same time last year and up 28 per cent compared to the December quarter of 2020.
MetroMap is Aerometrex’s data-as-a-service (DAAS) aerial imagery subscription business.
Essentially, MetroMap offers subscribers an archive of high-quality aerial images of the whole of Australia. Images of capital cities are updated four times per year, while images of major regional and rural centres are updated annually. Images can be subscribed for in both 2D and 3D depending on the customer’s needs.
While MetroMap is just one segment of Aerometrex’s aerial imaging business, Managing Director Mark Deuter said it has been the company’s primary sales focus for the past 18 months.
“The rapid growth in ARR reflects a fast-growing acceptance of our MetroMap product in the market, and we are very pleased with its progress over the first nine months of FY21,” Mark said.
“MetroMap provides substantial growth opportunities and a sustainable base of subscription revenues,” he said.
He added that MetroMap’s newest customers come from a variety of industries including energy and water utilities, government agencies, insurance businesses and engineering firms.
Specifically, new MetroNet subscribers since the start of 2021 include the likes of energy infrastructure giant Jemena, Melbourne Water, the Victoria Department of Transport, South Australia Power Networks and more.
“Many of these customers are new to Aerometrex and have been attracted to MetroMap’s outstanding quality and utility to support their operations,” Mark said.
Yet, on top of the large corporations and government department customers, Mark said MetroMap is also seeing strong growth in small-to-medium enterprise (SME) subscriptions.
Alongside the MetroMap aerial imaging business, Aerometrex offers photogrammetry, 3D modelling and light detection and ranging (LiDAR) services.
Shares in Aerometrex are trading 14.62 per cent higher this afternoon at 98 cents per share. The company has a $92.5 million market cap.