Ann: Investor Briefing - Nearmap scaling for growth, page-132

It's a good mix of customer diversification. These segments I've bordered in red are very much likely to weather a downturn as Nearmap is integral to their business and they don't contract as much in a downturn. Solar has lots of subsidies and people need Nearmap to generate quotes, Insurance is pretty much an annuity paid all the time, Government doesn't pay for anything (we do as tax payers so they don't care) and utilities are always paid recession or not. I'd argue once Nearmap matures it will be a defensive stock and integral to many businesses.