- Aerometrex (AMX) reports a 49 per cent year-on-year increase in annual recurring revenue (ARR) to $6.35 million in the March 2022 quarter
- The ARR is for the geospatial technology company’s MetroMap aerial imagery subscription
- Managing Director Steve Masters says the “continued growth of MetroMap ARR reinforces the opportunity of the subscription model business for aerial imagery”
- MetroMap gives subscribers an Australia-wide archive of accurate aerial imagery that’s updated up to four times per annum for capital cities and annually for major regional and rural centres
- AMX shares are up 2.3 per cent, trading at 44.5 cents just before market close
Aerometrex (AMX) has increased annual recurring revenue (ARR) from MetroMap by 49 per cent year-on-year (YoY) to $6.35 million in the March 2022 quarter.
On a quarter-on-quarter (QoQ) basis, the ARR increased 5.5 per cent since the December 2021 quarter.
MetroMap is Aerometrex’s Data-as-a-Service (DaaS) aerial imagery subscription offering, which builds on the extensive experience and expertise of Aerometrex’s long-standing project aerial imagery services.
“It is pleasing to see the continued growth of MetroMap ARR against all prior metrics especially YTD growth of 32 per cent since June 2021 and YoY of 49 per cent,” Managing Director Steve Masters commented.
“The continued growth of MetroMap ARR reinforces the opportunity of the subscription model business for aerial imagery.
“This growth is coming from SME businesses and the continued growth and expansion of our partner program.”
MetroMap provides subscribers with an Australia-wide archive of high-quality, accurate aerial imagery that is updated up to four times per annum for capital cities and annually for major regional and rural centres.
The geospatial technology company had an eventful quarter, most notably selling its Glynde property for $3.6 million which was spent on its 3D products and MetroMap.
AMX shares were up 2.3 per cent, trading at 44.5 cents just before market close.