G'day everyone!!
Just got back from the AGM (which was quite "low key"), and despite the carnage with tech stocks today
, Ian was very personable & positive.
The AGM was video taped, and I am pretty certain Ian mentioned it being uploaded to YouTube soon
However, I just thought that I would share a few points that I jotted down today:
Management strongly believe 3DP have the worlds fastest true end to end 3D data solution.
Winning new clients does take time - as many organisations are scared of change, and there is lots of trust involved in letting another company take "custody of your data".
But once they start trusting you, they generally increase their spend significantly - and Ian can see a number of customers spending upwards of a few million dollars per annum with 3DP over time.
They are very focussed on finding more "good people", and in this current environment this may come via "tuck in acquisitions" (like Airovant).
The holy grail in their industry is "predictives" (ie Pointerra 3D answers), this is a high margin & high $ spend area, and 3DP are already strong in this area (but are looking to constantly improve).
They currently have approximately two thirds of their staff in business / product development, and approximately one third in sales - and are now really looking to strengthen / broaden the sale teams.
With the recent Biden infrastructure bill, Ian expects material growth from the AEC sector in 2022.
They currently have just over 30 staff, and they want to increase this to 50 - but they only want to employ "good people / the right people". So they are taking a "cautious but aggressive" approach to hiring.
Ian believes he has pretty good visibility on ACV numbers going forward, and he is really confident in material ACV growth for 3DP going forward.
He also re-iterated that he expects the difference in cash receipts to compress over time, and that the Oct to Dec Quarter & Jan to March quarters are the strongest two quarters for collections in the US.
In Australia, the other two quarters are the strongest for cash receipts.
The defence opportunities are still there, they are huge $$, but they take a long time - and therefore 3DP are trying to allocate the correct amount to resources (both people and $$$) to this opportunity.
There was a number of other 3DP shareholders present today, so hopefully we can get their thoughts on the AGM as well
