Strong agree - what else has a 22% growth in revenue but a 13% slide in share price over the same period?
Tarriffs, not much impact on them unless there is a huge chunk of mining operations making up their work (lidar survey), but even then... You still need surveys done, even if you are selling an asset or similar (thinking about Whyalla steelworks and iron mines, for example). And they dialled down the project work which would be this kind of thing.
Maybe a bit of exposure to US currency fluctuations with compute costs, but presumably they would reserve in advance for a 1 or 3 year period.l, or use a bunch of spot instances to control costs.
Aerial operations? Maybe a bit of risk with fuel, components and plane parts... But they got rid of those, and leased back the planes didn't they? So they can dial up and down on frequency of survey to control costs there.
At the same time, Nearmap is no doubt looking more expensive than ever for encumbered clients, and anyone looking to belt tighten is surely going to look hard at Metromap being very cheap, high quality etc.
Seems like a lot of upside not reflected by share price.
AMX Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
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