Nearmap continues strong growth in ACV

Company News

by Rachael Jones

Aerial imagery technology and location data company Nearmap (ASX:NEA) has announced that Annualised Contract Value – their key growth metric has grown 42 per cent year-on-year.

Their ACV portfolio is now at $78.3 million with 107 per cent growth in the US and 32 per cent growth in Australia.

Continuing operational improvements to US sales and marketing helped to deliver the largest half yearly ACV growth since operations began.

Shares in Nearmap (ASX:NEA) are trading 9.4 per cent higher at $1.75.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.