Pointerra Limited (ASX: 3DP) announced an update on its recent enterprise sales activities. Under US sales category, it has been advised by existing US enterprise customer PrecisionHawk that it expects to increase usage of the Company’s cloud platform for 3D digital asset management from 5 terabytes to 10 terabytes by the end of the current quarter, and further expects to continue to grow usage throughout calendar 2019 as it scales its utility asset inspection operations.
Over the past few months, Pointerra’s platform has been integrated into PrecisionHawk’s production process and is now being used to enhance the accuracy and timeliness of 3D data analysis and customer reporting by PrecisionHawk.
During this time, the Company has been separately retained (and paid) by PrecisionHawk to develop advanced 3D data analytics for its utility inspection operation to support the scale-up of its US operations in this sector. Based on the demand for additional DaaS (“Data as a Service”) capacity, Pointerra expects to grow PrecisionHawk from its current US$5,000 pcm DaaS subscription to US$10,000 pcm during the current quarter.
The Company has recently been advised by one of the largest owner/operators of rail transportation and intermodal network assets in North America, that it intends to proceed with an enterprise-wide rollout of Pointerra’s platform to support its digital asset management operations by integrating the company’s platform within its Positive Train Control enhancement and continuous improvement program.
With the market capitalisation of more than US$50 billion, the rail and network operator undertook a rapid proof of concept internal evaluation of Pointerra’s cloud platform for 3D digital asset management during January and February and is expected to commence roll-out of Pointerra’s solution with a 4-figure DaaS subscription that will grow to a 5-figure amount as track, intermodal and real estate infrastructure data is loaded to Pointerra’s cloud platform throughout calendar 2019.
Under domestic Sales, during the current quarter, its existing domestic enterprise customers that are scaling their use of Pointerra’s solution are also growing their monthly DaaS subscription. Besides, the Australian offices of a global engineering firm are on-boarding as DaaS customers pursuant to an enterprise-wide, global rollout of Pointerra’s cloud platform for 3D digital asset management.
In the previous announcement, the company reported a decrease in its revenue by 25% to $93,584 and decreased in its loss after tax by 25% to ($1,279,945). The company’s Board didn’t propose to pay dividends for the period.
For the half year, it received customer receipts of amount $206K as compared to the previous period with receipts of amount $66K. Its annual contract value (ACV) amounted to $0.93 Mn on January 31, 2019, and the company expects it to grow for the year 2019.
The company worked with the customer to understand the positive impact on asset management, workflow and operational efficiencies generated through the use of the company’s cloud platform for 3D data across the enterprise. It enabled it to migrate in the utility sector from a $5,000 pcm DaaS subscription to $10,000 pcm and then $20,000 pcm subscription.
On stock information, Pointerra’s share last traded at $0.043, up 4.878% (AEST 3:23 PM, March 12, 2019) with the market capitalization of ~$21.37 Mn. Its 52 weeks high has been noted at $0.09 and low at $0.024. Its absolute return for 5 years, 1 year, and 3 months are -94.76%, -48.10%, and 10.81% respectively.
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