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Aerometrex forecasts full year EBITDA up to $8M
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Aerometrex forecasts full year EBITDA up to $8M

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  • Aerometrex projects full-year earnings to reach between $7.5 million and $8 million.
  • The company's share price rose 11.8% to $0.28 following the update.
  • Growth was driven by an increase in MetroMap subscription revenue and underlying contract value.

Aerometrex (ASX:AMX) expects its full-year EBITDA to rise between 117% and 132% to a range of $7.5 million to $8 million.

The forecast compares with EBITDA of $3.5 million recorded in the prior financial year.

"Based on the preliminary and unaudited results, Aerometrex has made strong progress towards its growth goals," said Aerometrex Managing Director and CEO Rob Veitch.

The company stated that group revenue is estimated to grow between 11.3% and 13.0% to between $26.5 million and $27 million, supported by a 37.8% increase in MetroMap annual contract value to $14.6 million.

The company noted that its cash balance remains stable at $3.56 million, showing that the business has reached a level which bodes well for future net profitability.

Following the announcement, the Aerometrex share price was up at $0.28.

The geospatial tech company generates revenue through its aerial LiDAR surveying services, 3D modelling, and high-resolution aerial photography.

Its core subscription offering, MetroMap, delivers online imagery web services to clients across government, property, and natural resource sectors.

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