- 3D data company Pointerra (3DP) has reported a 72 per cent growth in annual contract value to US$4.93 million (roughly A$6.9 million) for the September quarter
- This was largely driven by customers spending more as well as new customers coming on board
- Pointerra provides various data and analytics solutions to help customers manage 3D point clouds and datasets
- Pointerra received $0.61 million in customer receipts – a decrease from $0.82 million in the July quarter
- But the company expects the variability of quarter cash receipts to ‘smooth out’ once further opportunities present themselves
- At the end of the quarter, Pointerra finished with a healthy sum of $4.85 million in cash and equivalents
- Despite the strong results, company shares dropped 5.15 per cent and are currently trading for 46 cents
Pointerra (3DP) has released a strong September quarterly which outlines a 72 per cent growth in annual contract value.
Pointerra provides end-to-end data-as-a-service (DaaS), analytics-as-a-service (AaaS) and data processing-as-a-service (DPaaS) solutions to customers who can use the technology to help manage, visualise, and analyse massive 3D point clouds and datasets.
A particular stand-out is the 72 per cent quarterly growth in annual contract value (ACV) to US$4.93 million (roughly A$6.9 million) at the end of September. This was driven by a growth in spending by existing customers as well as new customers in the U.S. utilities and mapping sectors.
In September alone, ACV grew by 24 per cent to US$0.95 million (roughly A$1.3 million).
Pointerra welcomed new utility companies including Eversource Energy who is a billion-dollar market cap energy company, and Tennessee Valley Authority who is a large federally-owned corporation servicing customers across Tennessee Valley.
The company also signed on smaller companies across the surveying, mapping, engineering, asset management and mining sectors in Australia and the U.S.
Importantly, Pointerra was invited to participate in a platform demonstration at an exercise for the U.S. Military. The company showcased its technologies which could potentially benefit the U.S. Military by providing crucial information.
Further, the company engaged with other U.S. defence agencies and international aid organisations to demonstrate how its platform provides 3D insight and solves data management and analysis problems.
Pointerra has received positive feedback and is negotiating potential consulting arrangements.
To address more opportunities, the 3D data specialist increased its development and sales team from 12 to 19 and further appointments are expected in the coming quarters.
Pointerra received $0.61 million in customer receipts compared to $0.82 million in the July quarter. However, the company expects the variability of quarter cash receipts to ‘smooth out’ in time as ACV continues to grow and its portfolio of customers mature.
While the company received $0.61. million in receipts, it spent a hefty amount on research and development, and staff and administration costs.
Pointerra also raised $2.5 million in July and received around $419,000 from the exercise of options.
Pleasingly, Pointerra rounded off the quarter with a healthy sum of around $4.85 million in cash and cash equivalents.
Despite the positive news, company shares have dropped 5.15 per cent to trade for 46 cents at 10:57 am AEDT.