Nearmap Ltd Significant growth in key markets

Significant growth in key markets: Nearmap Ltd (ASX: NEA) demonstrated strong progress during Q3FY17 with incremental annualized contract value (ACV) addition of $3 million in the financial year to date. Both Australian and the US businesses grew incremental ACV ahead of their H1 run rate.  The company said it has resources in place to continue to deliver strong growth. Group sales productivity has grown greater than 100% in both key markets. ACV growth was driven by rise in customers and rise in average revenue per customer (ARPC). The company has guided FY17 EBITDA of $4.5 – $6.5 million. We believe with the rising momentum in key markets, USA and Australia, would place the company in a better position to deliver the guided performance. The stock has fallen 25.6% in last three months but rose 3.88% in last five days (as at April 05, 2017).

 

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