Don't know who you're replying to - must have them on ignore - but I will say the bigger the contract the higher up the food chain it goes, especially when Pointerra "is now used across multiple business units and service areas for both FPL and its parent company, NYSE listed US energy giant NextEra Energy, where Pointerra3D is deployed to support NextEra’s renewables operation across the country.'
As far as FPL is concerned, or NextEra too for that matter, Pointerra is no longer operating in siloed isolation within the FPL ecosystem.
As for Ian, you can't fault his enthusiasm for all things Pointerra. At least, I can't. It's long been my opinion that he tells it like it is, as much as he can within the strictures of ASX reporting rules. When you crunch it down, all that's really happening is that significant material commercial outcomes are taking longer to reach fruition than first thought. Complicated by the speed at which the 3D/lidar/digital twin algorithmic analytics market is developing, the size of the customers they are dealing with and their own internal operating structures. Doesn't mean it's not happening. Or won't. Or that Pointerra isn't a significant player in this rapidly evolving and expanding market. All the highly detailed updates suggest the contrary - it is happening.
Some like to say Pointerra isn't big enough, isn't growing fast enough and will be left behind by the competition or worse, sidelined as an inconsequential minor regional player. As if 'the competition' is some Godzilla-type beast that consumes or destroys everything in its path leaving it with a complete monopoly in a market worth billions of dollars a year. Yet global giant Jacobs thinks otherwise. As do FPL/NextEra. As do Amazon. As does a Tier1 US Defence contractor partnering with Pointerra to bid on a multi-year billion dollar contract. Not to mention the likes of Emesent, Velociti, and PointFuse, or Entergy:
During the quarter the US Utilities team met with Senior Executives from FPL and Entergy to demonstrate the value and capability of Pointerra3D to support planning and prioritisation for essential electric utility grid resilience (hardening) programs. Entergy are planning a 10 year, US$10B program to improve the ability of their network to withstand the impact of major weather events.
The FPL program of grid hardening is widely regarded as best practice and relies heavily on Pointerra3D as a mechanism to identify highest risk areas and determine priorities for pole replacement activities.'
Yet the narrative, on HC at least, is almost exclusively focused on the ACV/Cash receipts lag which Ian has consistently said will smooth out in time.
All of the above developments have been highlighted by Ian in the past several quarterly updates as being in process and expected to eventuate. Now they are eventuating.
So why should smoothed out cash receipts be any different?
I don't think they are. They just aren't happening at a time frame to suit some people. Or maybe they are happening, and that's why so much effort is being expended trying to create doubt in the market about the CEO, the company, the product and the ability of the entity as whole to make the big time when it is already there, not just knocking on the door but kicking it down. There's a big prize on offer. Everything Pointerra has achieved in the past five years is testament to how far they have come on the sniff of an oily rag. Ozzie hard work, grit, determination and ingenuity.
Of course, I could be wrong. That's fine. Been wrong before, quite recently. But on the bigger picture, I don't think I am so am happy to wait it out and take advantage of the situation we now find ourselves in.
Anyway, really just here talking out loud, trying to think it through and make sense of some glaring inconsistencies in the narrative, and market behavior.
Each to their own and good luck.
3DP Price at posting:
9.6¢ Sentiment: Buy Disclosure: Held
