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INVESTOR UPDATE JUNE 2020, page-70

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birdman29

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15/06/20

18:51

Post #: 45234305
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Originally posted by Roy2U: ↑

You are correct, Pioupiou, particularly in relation to NEA being "highly scalable" and with "high fixed and semi-fixed costs with very low varied-by-volume costs".

Now that NEA is focussing on keeping costs down to reach cash flow positive by June 2020, the above becomes even more significant. I believe they can keep their costs very close to stable for the next 2 years and more, which would result in very rapidly growing cash flows depending on the % growth rate of revenues.Back on January 30th, NEA was confident that ACV growth could continue in the 20-40% range. Although their latest guidance of ACV between $103-107M implies a Group growth rate of around 16% for this second half PCP, I think that by the second half of next year, they can get back to a more typical 20-40% as the NA market becomes more sizable relative to ANZ. If so, that will really power free cash growth.

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Are Investors Undervaluing Nearmap Ltd (ASX:NEA) By 29%?

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June 15, 2020

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Last edited by birdman29: 15/06/20

NEA Price at posting: $2.06 Sentiment: Hold Disclosure: Held
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