Aerial imagery technology and location data company Nearmap (ASX:NEA) report that their results for Financial Year 2019 expect to show record growth in the company's key growth metric, Annualised Contract Value (ACV) .
The closing ACV portfolio has grown to $90.2 million representing 35 per cent growth.
The key driver of this growth was its North America segment, which grew its ACV by US$9.8 million or 76 per cent to US$22.7 million. This means the segment now accounts for 36 per cent of its total ACV.
This was supported by robust growth in the Australian and New Zealand market, where Nearmap record a $9.1 million or 19 per cent increase in ACV to $57.9 million.
Shares in Nearmap (ASX:NEA)