Thanks for putting this up, Jerry.Thanks also to Brett for the...

Thanks for putting this up, Jerry.

Thanks also to Brett for the commentary. Ian can't sit still, he's firing on all cylinders. Good to see.

My impression is of management who now have a proven business model which they are using as a foundation for global expansion. Covid, the trend to remote working, geo-spatial 3D modelling, digital asset management and AI all help consolidate that model, and further the opportunity for Pointerra to grow and succeed.

If I could add a few points:

ACV and Scale: 'Commitment to report intra-quarterly material movement in ACV 'as we scale the business.'

Utility sector is the biggest sector 'at this pointwhere we have spent the most time over the past three years developing product and hiring people with domain knowledge.'

Churn: 'So for us, churn isn't really a thing we experience. Maybe one or two small customers at the $500 - $1,000 PM have determined that they don't want to move on with us. But at the bigger end of town where we are displacing significant workflow bottlenecks around digital asset management, the story has been very good for us with existing customers just spending more money over time as we embed ourselves into their organisation.'

Capital Requirements: 'The bigger contracts tend to have some front-end payments, although as we've seen with ACV being a bit disconnected from reported revenue and cash receipts, we've got to fund that gap, but we're starting to see some of that cash roll in now, and we've got pretty good visibility over the next few quarters. So from an organic growth perspective we think we're pretty comfortable.'

'We built Pointerra to be a capital-light business that focused on artificial intelligence and the power of cloud compute, and the affordability and scalability of cloud compute as a way of creating a globally scalable business that could be super-high margin.'

Scalability: 'We're in a great position but perhaps from an M&A perspective if there were opportunities that give us a step-change in scale, that could be a cause for capital, but at this point we're very comfortable thanks.'

Customer Budget Spend: 'In terms of share of budget, there is an enormous spend by businesses and companies and governments and private organisations that own and operate infrastructure assets. If you can shorten the timeframe for them between procuring aerial or mobile data and turning that into answers, then you're generating significant value.'

'We think there's lots of upside. Our stated goal of getting to US$50 million ACV could come entirely from the utility sector in North America. That's how big the market is.'

We've got six other sectors that we're working on scaling by hiring more people in product and sales to build out domain knowledge.

Global Expansion: 'We can't wait to get started in the US. The favourite looks to be the Colorado area, Denver, Boulder, Colorado Springs which is very much a geo-spatial hub for North America and the world. Throughout calendar '22 we're going to add a heap more people, we're going to create that physical presence, and I think we'll see some fantastic revenue outcomes in terms of customer acquisition and customer growth through that process.'

Into Western Europe, Ireland is probably the logical place. The Irish government has long been a supporter of tech companies. So I think we can look forward to perhaps by the end of this year having four physical presences, one in North America and one in the UK or Ireland as well as our two offices in Australia.


Consolidation and Domain Knowledge: 'What we've learned over the last three years of investing heavily in product and BD from a human capital perspective in the Utility sector is that if you bring that domain knowledge on, you can accelerate the sophistication of the product and the nuances around the solutions that a particular sector has that are perhaps different to other sectors when it comes to the interpretation of information from 3D data.

'We've learned that's been quite successful for us. If we look across our other six verticals, we are hiring people in each of those verticals, but the opportunity to make step-changes in product and the domain knowledge of the people I think is going to give rise to some M&A.

That's a really long-winded way of saying there are plenty of opportunities for consolidation, for tuck-in acquisitions, even mergers of equals, but we've got a filter that works in reverse to a lot of businesses, where we don't tend to focus on technology or product, we focus on people.

So if the people fit, that's the first tick of the filter, then if there's a product and business model fit that's the second filter, and then if they also come with a tech stack that adds to our existing platform, that's fantastic. But it's very much about people.'