Aerometrex (ASX:AMX) Provides Earnings Forecast for FY22 – The Market Herald
- The aerial mapping company Aerometrex (AMX) delivers its financial guidelines for the 2022 financial year
- The company expects to report between $21 million and $23 million in revenue across its Australian and US operations, which would represent a slight increase from $20.9 million in FY21.
- Annual recurring revenue for its MetroMap aerial imagery data service is expected to be between $6.5 million and $7 million, up from $4.8 million reported for FY21
- Finally, Aerometrex expects EBITDA of between $4.5 and $5.5 million, which includes the sale of its headquarters and the value of stock options granted to employees in fiscal 2020.
- Shares of the company are trading up 13.6% to 25 cents at market close
Aerial mapping company Aerometrex (AMX) has announced expected financial results for FY22.
Aerometrex expects to report group revenue of between $21 million and $23 million for its operations in the United States and Australia. This would represent a slight increase in group revenue of $20.9 million in FY21.
The company attributes strong revenue growth to its LiDAR division following its investment of a fourth LiDAR sensor in fiscal 2021.
Its U.S. business, which focuses on AMX’s high-resolution 3D modeling product, made its first “meaningful” revenue contribution in FY22 and will be an area the company will continue to focus on. His efforts.
With respect to its Australian operations, the subscription division continued its transition from the project’s aerial photomapping work to MetroMap’s recurring revenue subscription model.
As a result, MetroMap’s annual recurring revenue (ARR) is expected to be between $6.5 and $7 million in FY22, compared to $4.8 million in June 2021.
The company also expects to report earnings before interest, taxes, depreciation and amortization (EBITDA) of between $4.5 million and $5.5 million for the fiscal year.
The EBITDA forecast includes the sale of Aerometerx headquarters last January and the value of stock options granted to employees in fiscal 2020.
“I have been delighted to observe the wide range of capabilities within our organization and, coupled with the strong demand and customer interest in our products in Australia and overseas, I am extremely excited about the business opportunities,” said CEO Steve Masters.
Going forward, Aerometrex is focused on positioning itself to manage cash flow, increase efficiency, maximize assets and enhance growth opportunities to drive business performance and deliver profitable results.
Shares of the company were trading up 13.6% to 25 cents at market close.