Thanks for the chart @Roy2U.I have raised this previously, that...

Thanks for the chart @Roy2U.

I have raised this previously, that this half, it would be hard to match the sales from last half when they introduced 2 new products to the market. 

They effectively had 7,500 Aus and 750 US customers that they could upsell the Obliques and 3D products to - a captive audience.  

Take up was always going to be highest just after launch, as the product was a valuable addition and NEA came up with a compelling offer. 

Those most likely to take this up did so last half and while the upselling wouldn't have stopped, the conversion rate could never be the same this HY.

So for me, I think you probably need to apply some sort of smoothing/trend line to account for the new product launches last HY. 

At some point, ACV might not keep growing incrementally over the previous half in your chart, as seen in Australia which you highlight as your concern, but that doesn't bother me much given what ACV represents as a measurement. If we added $10m combined every half on a constant basis (ie: no incremental growth in your chart) for the next 10 years, the market cap for Nearmap would be about $5b I expect as it would still represent constant revenue growth, just by smaller percentages on a bigger revenue base.