G'day everyone!!
Just returned from the AGM, and it was great to catch up with other HC posters Psalty & Letsee.
The AGM was a small but upbeat meeting - and it was taped. So I understand it will be available on YouTube / Pointerra website for all shareholders to view in the near future.
Apparently there was issues with the sound quality in the recording from last years AGM - so Ian apologised for last years AGM video not being available.
I came away feeling extremely positive about the future for this company, and whilst there was nothing new raised, some of the points discussed were:
The company was rapt with how they handled the Hurricane Ian crisis, FPL / NextEra Energy were very impressed with the quick turnaround & the "detailed / targetted feedback they received", and their relationship with this large US utility has now been cemented.
The work being done with FPL / NextEra is growing significantly, and they are proving to be awesome at introducing 3DP to other prospective utility clients.
The level of sales enquity has increased since Hurricane Ian & Nicole.
After a 12 month proof of concept, the deal with Veliciti & Amazon is increasing quickly in terms of size & $$. Now expanding to around 200 sites & approximately $1m USD pa - with potential to get to 1,000 sites.
This technology is then replicable to other big companies in the US & AUST (and other countries) with large warehouse facilities.
Overall, the land & expand business plan is working a treat - with most companies increasing their spend with Pointerra significantly over time.
Ian again reiterated how important hiring the right staff & looking after them was, and he had great praise for the 3DP team (many of which have been with the company for quite a few yars).
Hiring & retaining the right program development & businesss development / sales staff is still a challenge.
The 4 x Airovant staff members have now all left 3DP - but it was a relatively cheap aquisition, and this acquisition "introduced" te Amazon deal.
Ian was very confident in the 3DP business going forward - particularly due to almost zero churn & the larger $'s now being spent by some of the existing Pointerra clients.
Ian talks to Bevan Slattery, and is hopeful that 3DP can get involved in some of his projects going forward.
It doesn't sound like any further funds will be required by the business - unless it is specifically required for an acquisition.
Please note that I did not write down any notes during the meeting, and therefore these notes are purely from my memory - and they are definitely not word for word.
Be great to see what others at the meeting thought ?
IMO, there is exciting times ahead for 3DP
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