Aerometrex (ASX: $AMX) signs new agreement with WSP Australia

Aerometrex Limited (ASX: $AMX) has entered into a minimum $0.6 million (GST inclusive) MetroMap licence agreement with WSP Australia (WSP). The agreement involves WSP purchasing a fixed number of MetroMap licences from Aerometrex, with additional revenue opportunities through the purchase of extra licences. The agreement is effective from 5 January 2024 and expires on 4 January 2026.

Executive Commentary on the Agreement

Aerometrex's Managing Director, Steve Masters, stated, 'This is a significant opportunity for both Aerometrex and WSP, building on the strong foundation between both companies. This agreement continues to build the MetroMap partner program and contribute to MetroMap's Annual Recurring Revenue (ARR) stream over the contract term.' WSP Australia Director of Digital Services, Damien Cutcliffe, expressed, 'We are delighted to be working with Aerometrex, and continuing to collaborate with industry partners to deliver innovative solutions and outcomes to our customers.'

Summary of the Agreement and Outlook

Aerometrex Limited (ASX: $AMX) has signed a new MetroMap partner agreement with WSP Australia, involving a minimum $0.6 million payment over a 2-year term contract. The agreement provides additional revenue growth opportunities through the purchase of extra licences by WSP. The company's Managing Director, Steve Masters, highlighted the significance of the agreement in building the MetroMap partner program and contributing to the Annual Recurring Revenue (ARR) stream. This aligns with Aerometrex's strategic initiatives to develop successful partner programs, build brand awareness, and grow sales channels for future revenue streams. The company's continued investment in developing its MetroMap product, including image capture, customer platform development, and product development, reflects its commitment to innovation and growth. The agreement signifies a positive step for Aerometrex's revenue generation and strategic partnerships, positioning the company for continued success in the geospatial tech industry.