I have been looking a past figures and trying to work out why the latest figures did not meet expectations.
ACV % growth for the last four six monthly periods have been 16.55%, 21.26%, 16.68% and 15.15%. The Australian half yearly increase in contribution has been steady at around $4.5m for the last few quarters, which means the percentage contribution to total ACV has decreased each period. This is to be expected as it is a more mature market. The US contribution has increased substantially over the period which is why the overall percentage increase in total ACV has only dipped marginally.
The new features now provided by Nearmap which were only implemented in June have had no time to impact growth, ACV from Canada would be minimal at this stage, the NY office should also be growth driver as it increases Nearmap's sales presence in USA. The graphic below demonstrates the possibilities ahead in great detail(we are currently at year 8 with current USA ACV of $32.4m)
NEA Price at posting:
$3.34 Sentiment: Buy Disclosure: Held
