Ann: H1 FY2019 Preliminary Results - Continued Strong Growth, page-23

Like everyone else, I am a very happy investor in Nearmap. However, I thought I would share my graph of the incremental ACV changes on a half yearly basis. This is particularly useful for seeing the growth trends over 6 month periods. Should I be concerned that the incremental growth has gone down for Australia at the same time as they have improved their offer and extended sales into NZ? Or is it just that 18H2 was such a cracker? Also, I note that the US incremental ACV is still rising, but at a lower rate than in the previous four halves. this surprises me too.

I put this out for comment and would welcome any insights.

There is no doubt that growth is excellent over a 12 month period, but has something changed over the last 6 months?