Aerometrex 1H24 Results Overview

Aerometrex Limited (ASX: $AMX) has reported a record 1H24 group revenue of $12.01m, driven by strong ongoing growth in MetroMap Annual Recurring Revenue (ARR) and LiDAR revenue. The company's EBITDA increased to $0.79m, and it maintained a solid cash position with $10.22m in cash balance. The 1H24 highlights also include new leadership appointments, successful integration of new MetroMap sensors, and industry awards received for its geospatial solutions.

Executive Commentary

The company's 1H24 results reflect our continued focus on driving sustainable value for our shareholders. We are pleased with the record revenue and the growth in MetroMap ARR and LiDAR revenue. The successful integration of new MetroMap sensors and enhancements to various systems and processes have contributed to our strong performance. We remain committed to investing wisely and building capacity ahead of the revenue curve to support our future growth initiatives. Our strong cash position provides us with the necessary support to execute our strategic imperatives and transition to a scalable subscription-based business.

Financial Results and Outlook

Aerometrex's 1H24 results demonstrate its ability to deliver record revenue and achieve significant growth in MetroMap ARR and LiDAR revenue. The company's focus on embedding initiatives to drive sustainable value for shareholders has resulted in a 20.0% increase in group revenue and a 17.9% growth in MetroMap ARR. With a strong cash position and debt facilities available, Aerometrex is well-positioned to continue its investment to underpin future growth and transition to a scalable subscription-based business. The company's strategic imperatives include positioning MetroMap to redefine industry standards, building Australia's leading LiDAR business, and leveraging its position as the world leader in high-resolution 3D modelling. The enhancements made to MetroMap, including the capture program update, are expected to drive customer retention and growth. Aerometrex's diversified revenue streams and recognized industry innovator status further strengthen its investor value proposition.