Aerometrex (ASX: $AMX) Half Year Financial Report Highlights

Aerometrex Limited (ASX: $AMX) has released its half-year financial report for the period ending 31 December 2023. The report shows a 20.0% growth in operating revenue, reaching $12.01m, with MetroMap subscription revenue increasing by 14.8% to a record half-year statutory revenue of $4.11m. The company's EBITDA also saw a significant growth of 113.5% to $0.79m, reflecting the ongoing operational enhancements and key project wins for LiDAR during the reporting period.

Executive Commentary on Growth and Strategic Initiatives

The first six months of FY24 have been marked by significant growth in operating revenue, driven by the strong performance of our MetroMap subscription revenue and LiDAR projects. We are pleased to see the continued focus on maturing and scaling the business yielding positive results, with a 50.2% growth in LiDAR revenue and a 14.8% increase in MetroMap recurring subscription revenue. Additionally, the strategic initiative to involve Aero Logistics in the MetroMap capture program is expected to enhance capture efficiency and reliability, further solidifying our position as an industry leader in providing quality and accurate imagery to the Australian market. We remain committed to executing our growth strategy and delivering value creation for all stakeholders.

Summary of Aerometrex's Half Year Financial Report

Aerometrex Limited's half-year financial report demonstrates a robust growth in operating revenue, particularly driven by the strong performance of MetroMap subscription revenue and LiDAR projects. The company's EBITDA saw a significant increase of 113.5%, reflecting the positive outcomes of ongoing operational enhancements and key project wins. The strategic initiative to involve Aero Logistics in the MetroMap capture program is expected to enhance capture efficiency and reliability, further solidifying Aerometrex's position as an industry leader. With a strong cash balance and a continued focus on maturing and scaling the business, Aerometrex remains committed to executing its growth strategy and delivering value creation for all stakeholders.