Aerometrex (AMX) H2 2024 earnings summary

Executive summary

• Achieved record underlying operating revenue up 9.0% to $24.17m, driven by MetroMap subscription and LiDAR revenue growth.

• MetroMap subscription revenue rose 19.3% to $8.58m, now 34.6% of total revenue.

• LiDAR revenue increased 10.9% to $14.15m; 3D revenue declined due to softer demand and lack of large off-the-shelf sales.

• Underlying EBITDA surged 254.8% to $2.31m, reflecting operational improvements.

• Strong cash position with $8.31m at year-end supports growth initiatives.

Financial highlights

• Total revenue was $24.75m, down 2.4% year-over-year due to lower off-the-shelf sales.

• Annual Recurring Revenue (ARR) reached $9.06m, up 19.1% from FY23.

• Cash flow from operations increased 55.0% to $6.24m.

• Free cash flow improved to $(1.35)m from $(4.78)m in FY23.

• Net assets at year-end were $24.52m.

Outlook and guidance

• FY25 focus areas include driving MetroMap ACV and off-the-shelf sales, expanding the MetroMap Partner model, and integrating Aero Logistics.

• LiDAR strategy centers on accelerating the opportunity pipeline and embedding delivery efficiencies.

• Global 3D aims to pursue Australian projects and build international market presence.