What recent substantial deterioration in business conditions for NEA?
From the FY23 TRADING UPDATE
"Based on our trading performance in 1H of FY23 in both our core markets and reflecting on our expected 1H FY23 ACV range,Nearmap expects that FY23 closing ACV portfolio to be between $195 million and $208 million (on a constant currency basis1),depending on market conditions in 2H FY23 and noting a likely positive skew to the second half. This implies an annual growth rate of 16.3% to 24.1% from FY22 to FY23 (on a constant currency basis1)."
Don't see any substantial deterioration in business conditions here which allows for "the possible churn or downgrade of two customers during the first half of FY23, of potentially ~$6 million".
NEA Price at posting:
$2.04 Sentiment: Buy Disclosure: Held
