Breakout imminent, page-6

I am not fan of them, but fair credit to Tom from the Motley Fool, he has been tipping Nearmap for a while and has been right, anyway there are some points worth highlighting in his comments, which align to my thinking:  

"....perhaps still has the most raw growth potential."

"...a large addressable market in the US that it is making credible inroads into...."

I was trying to convert the ACV growth just announced in the US into how many new customers that works out as.

As a rough guide, it looks to be about 370 new customers based on the ARPS from the last half referenced in the AGM Presentation (AUD$18,404 * 370 = $6.810m). This works out about the same as the ACV conversion (USD$4.8 * 1.42 = AUD$6.816m)

Last HY, we added 204 US customers according to the AGM presentation. Some of these would have been at much higher rates than the $18k ARPS, as it increased from $14k to $18k, so my calcs could easily be wrong if we have again increased ARPS. 

Either way, that leaves us with about 1,300 US customers now. 

Given the large addressable market in the US, much larger than Australia (where we have 8,000 customers), I think it fair to assume we will eventually end up with at least 10,000 US customers, hopefully in the near future with the money being spent from the capital raising to expand the customer acquisition in that market.

Assuming ARPS winds back a little as SME's are added, then we could easily build an ACV of AUD$140m (10k * $14k) in that market alone, before Canada (similar in size to Aus) is added to the mix. 

I still think a lot more PR can be generated in the States, but a big market, with lots of smaller media markets within it. Nearmap need a lot of focus on this. At the moment, the Daily Overview instagram account (with over 715k followers) with posts that use NEA imagery and regularly get over 20,000 likes is one of their best promotional tools (not that they control it). 

Anyway, still a lot of growth for Nearmap, particularly in the US, followed by Canada which launches shortly.