Hotcopper needs to have some sort of vetting process to weed out people who make absolute rubbish statements. I've been a holder of NEA for several years (first time actually posting on a NEA thread) and the business goes from strength to strength. You guys talk about profitability and losing money..... do you actually know how tech companies work and how they scale. The Australian business is already profitable and has been for a long time now. The only way to scale is to spend money which they have been doing in NA and is clearly very successful - case in point the legal action which shows they are stealing market share.
If the downrampers took the time to investigate and read through annual/quarterly reports, you would realise that NA is already close to turning profitable which when they do consistently, I would imagine they would look to expand into other geographies.
Too many people on these forums have no idea how business economics actually work.
Further to my rant, the recent SP weakness is absolutely ridiculous. Yes their guidance wasn't at the 20-40% level that market was expecting however their is a history of guidance upgrades which I would be very surprised if we don't see one. Another case in point, 04/05/21 was an increase to guidance only with the unfortunate legal action being launched the following day. With the Biden administration infrastructure spending over the coming years in addition to most likely more natural disaster's and climate tracking, Nearmap is perfectly positioned and I think they are a strong buy at current levels.
NEA Price at posting:
$1.74 Sentiment: Buy Disclosure: Held
