Aerial mapper Aerometrex has signed major corporates Suncorp and
Aerial mapper Aerometrex has signed major corporates Suncorp and Geoscape Australia to its digital imagery service as its subscription model continues to gain pace.
The two contracts are worth a minimum of $860,000, taking the total value of new subscriptions in the September quarter to more than $1 million. Other corporate subscription growth since July 1 includes partnerships with engineering firms, architects, surveying firms, local councils, agronomists, urban planners and solar companies.
Based in Adelaide South Australia, Aerometrex is a 30-year-old company, which listed on the ASX in December 2019 and has a market cap of about $117 million.
The company generated more than $20 million in revenue in the 2020 financial year – up 24 per cent on 2019 – across its Aerial Photomapping, LIDAR and 3D modelling divisions. It has also executed international projects in the United States, Africa, the Middle East, Southeast Asia, Papua New Guinea and New Zealand.
But it is the MetroMap service that is driving growth in the first quarter of FY21.
MetroMap is an online aerial imagery subscription service with highly accurate geospatial data viewed through a web browser interface, to which Aerometrex has added 3D models.
Its annual recurring revenue has grown almost eight-fold from $357,000 in the September quarter of 2019 to...