Nearmap Ltd(ASX: NEA)
Nearmap is an aerial mapping company that sells its aerial imagery on a Software as a Service (SaaS) basis. The highly detailed visual and topographical content allows its diverse clientele to accurately survey and measure a location remotely to boost productivity by saving time and money on site visits.
Nearmap’s share price has risen 58% in 2018 after reporting a 27% increase in revenue from ordinary activities to $24.4 million for the first half of FY18, and a 31% increase in Annualised Contract Value (ACV) to $54.2 million. Nearmap uses the free cash flow from its profitable Australian operations to fund its expansion into the US market which delivered the majority of growth in ACV.
