Join our daily newsletter At The Bell to receive exclusive market insights
- Data as a Service (DaaS) solutions company Pointerra (3DP) has recorded an 18 per cent increase in its annual contract value (ACV)
- The tech stock’s ACV has grown from US$4.93 million (roughly A$6.69 million) to US$5.82m (around A$7.9 million) in the last 40 days
- The growth comes as several new clients come on board while several existing Pointerra customers also increased their spending
- 3DP offers clients a range of Software as a Service (SaaS), DaaS, Analytics as a Service (AaaS) and Data Processing as a Service (DPaaS)
- Shares in Pointerra are trading down a slight 2.8 per cent in early trade
- Currently the stock is trading at 52 cents per share
Pointerra (3DP) has delivered a strong increase in its annual contract value (ACV) over October and November.
The Data as a Service (DaaS) solutions company said in an update today that its ACV grew by 18 per cent over the last 40 days.
That brings the total contract value’s from US$4.93 million (roughly A$6.69 million) to US$5.82m (around A$7.9 million).
Pointerra has credited the ACV growth to the onboarding of new customers across a range of market sectors in Australia and the U.S.
Additionally, the company said it also saw an increase in the amount being spent by existing customers during Q2 FY21.
Pointerra offers its clients a range of Software as a Service (SaaS), DaaS, Analytics as a Service (AaaS) and Data Processing as a Service (DPaaS) solutions.
Despite the positive news, shares in Pointerra are trading down a slight 2.8 per cent in early trade.
Currently the stock is trading at 52 cents per share at 10:58 am AEDT.
