Pointerra gets tick of approval from tech investor Bevan Slattery, shares rip higher
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Billionaire tech investor Bevan Slattery has geospatial analytics company Pointerra (ASX:3DP) in his sights.
The company has issued a $2.5m placement to an investment vehicle controlled by Slattery, via 50m shares priced at five cents each.
Markets responded to Slattery’s seal of approval as 3DP shares climbed by more than 60 per cent in morning trade to 9.4 cents — the highest level since January 2018.
Pointerra’s core product offering is a cloud-based platform which allows 3D geospatial images that removes the need for high-performance computers to process huge amounts of data.
The company booked $530k of revenue in the March quarter, up from $180k in the December quarter.
In comments accompanying the placement, Slattery said Pointerra’s technology places it at the forefront of where the market is heading for 3D data imaging and storage.
The company derives revenue from a Data-as-a-Service (DaaS) model which is “priced based on the amount of data (in terabytes) we are hosting and the number of users each customer requires”.
It also charges for data analytics, and clips revenue on a transactional basis when it helps to match sellers with buyers of 3D data.
Slattery said 3DP has “the potential to be a world leader in this field and ultimately to help feed the geospatial systems behind industries including telecommunications, renewable energy and autonomous vehicles”.