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Nearmap Announces Increase of FY21 ACV Guidance

04 May 2021  |  16:50:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Nearmap increases FY21 ACV guidance

Nearmap announced an increase to the Company's FY21 Annual Contract Value (ACV) guidance to $128m-$132m (from $120m-$128m). On the 1H21 performance, the Company had continued with growth across its core industry verticals from both new and existing customers. This further reinforced the Company's subscription business model, the benefits of the Company's technology leadership position and the differentiated customer offering which combined to give the Company a competitive advantage. The Company continued to invest the proceeds from the FY21 capital raise into growth initiatives, including into the development of HyperCamera3, which remained on track to be rolled out in FY22.

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