The consolidated entity’s result after provision for income tax was a loss of $7.1m (2015: loss of $0.8m).
Review and results of operations
For the year ended 30 June 2016, Nearmap reported total revenue of $31.3m, up 20% on corresponding prior year revenue of $26.1m, underpinned by continued customer retention and growth in the customer base.
Nearmap’s balance sheet remains strong with no debt and a strong cash balance. During the year ended 30 June 2016, Nearmap invested in sales and marketing in the Australian business, the US expansion, and the HyperCamera2 system. Our cash balance remains strong at $12.2m at 30 June 2016.
Cash receipts from customers for the year were $37.3m compared to $26.9m for the previous year, an increase of $10.4m (39%).
NEA Price at posting:
56.0¢ Sentiment: None Disclosure: Held
