cash receipts up 253%

"nearmap sales growth continues with March quarter cash receipts up 253%
nearmap ltd (ASX: NEA) today announced strong growth in its quarterly cash receipts and operating cash flows over the three months ended 31 March 2013 (3Q13).
Cash receipts from customers were up 253% to $5.25 million (3Q12: $1.49 million). In addition, the company generated $4.51 million of net operating cash inflows (3Q12: net outflow of $(1.14) million).
This is the second consecutive period of positive cash flows for nearmap. Underlying this growth has been continued strong customer take-up of the new subscription based model, as well as high renewal rates at levels above 98% from existing customers."

At end of quarter the company has over $10mill cash in bank and no debt. Todays teleconference may provide more info on plans to introduce new cash products as mentioned by the CEO in twitter. This is going very nicely. The costs may also diminish from here as the capital expanded on new systems should not be as great with systems in place.