Nearmap posts record half yearly growth in aerial mapping subscriptions

Excerpts from an article by Ben Hall in Business News Australia

Aerial mapping company Nearmap is set to post a record half yearly growth in annualised contract value (ACV) of 53 per cent to $7.2 million, compared to the prior corresponding period.

The company released its first half FY18 preliminary results and says its ACV growth was achieved through investment in sales and marketing along with the largest half yearly growth from its US operations. Nearmap now has a total of $61.4 million in ACV.

Nearmap sells subscriptions for its high-resolution aerial imagery to a diverse range of clients that range from construction companies and engineers who view the potential sites to government departments, insurance companies who want to view the properties they’re covering, solar companies who need to inspect roofs and access and other commercial operations.

Read the full article in Business News Australia