Nearmap has recorded a 29% increase in its revenue, but also reported a full-year statutory loss after tax of $30.8 million.
The company said the losses includes litigation costs associated with its defence against a lawsuit by rival EagleView, which alleges it infringed one of its patents.
?We?ve delivered these results with a disciplined approach to cash management, ending FY22 in a strong position with $94 million of cash on the balance sheet and no debt,? said Nearmap CEO Dr Rob Newman.
Nearmap shares surged more than 25% on Monday following the takeover offer from US Private equity firm Thoma Bravo. The share price rose just over one per cent at the market open.