Aerometrex finds good demand for its digital imagery services
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Revenue for Aerometrex increased to $2.75m in the September quarter, including earnings from new clients of $1m, up 670 per cent from $357,000 in the corresponding 2019 period.
Aerometrex noted that this revenue growth had occurred during the COVID-19 pandemic, and other corporate subscriptions came from architects, engineering firms, local government, urban planners and solar companies.
The company has signed up insurer Suncorp Group and 3-D building and location data firm Geoscape Australia to its MetroMap aerial imagery subscription service.
MetroMap has accurate online imagery for more than 8.5 million residences in Australia.
“The endorsement of subscriptions by major corporate customers indicates the value in our offering is now understood by the market and is materialising in the growth of annual recurring revenue,” managing director Mark Deuter said.
Geoscape Australia provides spatial data for 11 million parcels of land in Australia and its business and datasets are complementary to those of Aerometrex.
Through a strategic partnership the company will derive some sales revenue from Geoscape products.
“Geoscape Australia has collaborated with Aerometrex for several years, and our product portfolio has benefited greatly from their high-quality imagery and related services,” chief executive Dan Paull said.
Aerometrex acquired aerial imagery company Spookfish Australia and has incorporated its data into MetroMap.
“We have demonstrated our ability to scale our capture and processing effort while still maintaining accuracy and further improving the quality and resolution of the product,” Deuter said.
The company estimates the size of the market for its MetroMap geospatial digital data as a service (DaaS) at $75m to $80m per year.
Aerometrex specialises in aerial photography and aerial mapping and uses technology including, Light Detection and Ranging (LiDAR), 3D modelling and aerial imaging.
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