- Pointerra’s (3DP) March quarter growth generates a further US$1.9 million (A$2.66 million) uplift in the company’s annual contract value (ACV) run-rate
- The company’s ACV now totals US$16.3 million (A$23 million) as of today, up 13 per cent from the end of January
- The uplift is a result of Pointerra’s successful growth in deploying previously awarded material contracts in the US energy utility sector and the expansion in platform usage by customers
- Initiatives have been undertaken by the company to accelerate its global expansion to support the anticipated growing global demand for Pointerra3D’s solutions
- Pointerra shares are down 2.04 per cent, trading at 24 cents
Pointerra’s (3DP) March quarter growth has generated a further US$1.9 million (A$2.66 million) uplift in the company’s annual contract value (ACV) run-rate.
The company’s ACV now totals US$16.3 million (A$23 million) as of today, up 13 per cent from the end of January.
The uplift is a result of Pointerra’s successful growth of deploying previously awarded material contracts in the US energy utility sector and the expansion in platform usage by customers.
Revenue recognition and cash generation from these newer contracts started to emerge during Q3 FY22 and is expected to accelerate in coming quarters as further platform deployment milestones are met.
In addition to the US energy utility sector material contract awards, the company also added new, non-material customers during the quarter and also increased ACV spend by existing customers across Pointerra’s suite of solutions.
In future quarterly reports, Pointerra will commence reporting a breakdown of ACV totals by target sector, including customer subscription numbers as its portfolio of customers continues to mature.
The company believes that this will highlight the diverse appeal of Pointerra3D across a range of industries, where customers are paying the company between US$500 (A$700) and more than US$100,000 (A$140,500) per month under recurring subscription agreements for the use of the Pointerra3D suite of solutions.
Initiatives have been undertaken by the company to accelerate its global expansion to support the anticipated growing global demand for Pointerra3D’s solutions, which include setting up a US-based “regional home” and commencing operations in the UK to service the EMEA region.
To support these initiatives, Pointerra’s Managing Director Ian Olson and Chief Revenue Officer David Lowe will spend extended periods of time in the US during the year.
3DP shares were down 2.04 per cent, trading at 24 cents as of 11:34 am AEST.