# NEA - Nearmap Limited



## System (30 November 2012)

Nearmap Ltd (NEA) was formerly known as Ipernica Limited (IPR).

Previous discussion of this company can be found in the IPR thread: https://www.aussiestockforums.com/forums/showthread.php?t=11522


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## mr. jeff (2 December 2012)

*Re: NEA - Nearmap*

I have used nearmap.com before and have found it to be better than google earth for up to date imagery. This could be something worth watching closely for further development if it is the same company, where they charge for access to their imagery.


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## prawn_86 (3 December 2012)

*Re: NEA - Nearmap*

I remember Ipernica as always having a lot of cash on hand from their law business side of things. Has NearMap split out of that? IE - are they still listed for thei law stuff?


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## jbocker (18 December 2012)

*Re: NEA - Nearmap*



prawn_86 said:


> I remember Ipernica as always having a lot of cash on hand from their law business side of things. Has NearMap split out of that? IE - are they still listed for thei law stuff?




My understanding is they have dropped the law stuff (fighting IP breaches), and have gone solely on Nearmap. Which by the way is soon to be no longer a free site, therefore accessing their excellent database of images (Australian metros) will need to be fee payable. That should generate some good income. Or people will return to google maps which by comparison is about as up to date as your granny's old photo album with its poor resolution too.


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## jbocker (6 January 2013)

*Re: NEA - Nearmap*

This stock has definitely improved in the last month. getting some volume and has gone from 4c to 7.4c. Will be interesting to see their first half results. The name change has drawn some attention to their refocused business model.

It starting to get back to the price I paid some time ago..

may be i should hold a little longer....ld:


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## mr. jeff (17 April 2013)

*Re: NEA - Nearmap*

Well from the last post it has just reached 14c and going well. A bit of volume today and near a new high. NEA fundamentals also seem positive at this stage and the focus of the company is a refreshing change from losing money on mining stocks.


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## prawn_86 (18 April 2013)

*Re: NEA - Nearmap*

Shares up 60% today to 22c 

Net Operating Cashflows for the quarter were 4.5m and currently has 10m cash in bank


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## skc (18 April 2013)

*Re: NEA - Nearmap*



prawn_86 said:


> Shares up 60% today to 22c
> 
> Net Operating Cashflows for the quarter were 4.5m and currently has 10m cash in bank




Saw the release this morning but really didn't think it will run like this on a day like this.


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## Huskar (18 April 2013)

*Re: NEA - Nearmap*



skc said:


> Saw the release this morning but really didn't think it will run like this on a day like this.




Yes I ran the ruler over these guys a few weeks ago and though I liked the product I thought it was too expensive and I would get a chance on a pullback. How wrong!


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## skc (18 April 2013)

*Re: NEA - Nearmap*



Huskar said:


> Yes I ran the ruler over these guys a few weeks ago and though I liked the product I thought it was too expensive and I would get a chance on a pullback. How wrong!




It will pull back tmr imo. The quarterly cash flow is good but anyone annualising that will be in a big shock in a few more quarter's time.

The subscription model probably has some upfront / prepaid component which means larger cashflows in the beginning. They are probably still growing their subscription base so that will continue for a few quarters at least. But then at some point it'd reach steady state which I have no idea how to determine.


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## mr. jeff (18 April 2013)

*Re: NEA - Nearmap*



skc said:


> It will pull back tmr imo. The quarterly cash flow is good but anyone annualising that will be in a big shock in a few more quarter's time.
> 
> The subscription model probably has some upfront / prepaid component which means larger cashflows in the beginning. They are probably still growing their subscription base so that will continue for a few quarters at least. But then at some point it'd reach steady state which I have no idea how to determine.




 I agree, hard to determine what the subscription rate is going to be and what is going to drive it further. At this stage though, it is early days and has a long way to grow before it has reached that zenith. They have a very beneficial product and it is an offering that a fair range of companies and government arms would be attracted to. Not just engineering companies for planning and analysis, but the big investment companies who use mapping to analyse growth trends and manage their growth forecasts etc., as well as government infrastructure planners etc. 
There is good potential for expansion, it is far better than what google earth offers and may offer a takeover target to a larger player.

So I think it will continue the move over the medium term, but I may be swayed to sell. This is the only stock I'm holding that has shown strength through the latest down move. 
105% gain so far. It may have run a bit hard, but as opposed to scary moves with a drill intercept which collapses, this company is earning money and growing, so who knows where it will end up - maybe give it a PE of 20 for growth and then forecast it's earnings for the year based on this quarter's earnings of $5M - that would be something!


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## Huskar (19 April 2013)

*Re: NEA - Nearmap*



skc said:


> It will pull back tmr imo. The quarterly cash flow is good but anyone annualising that will be in a big shock in a few more quarter's time.
> 
> The subscription model probably has some upfront / prepaid component which means larger cashflows in the beginning. They are probably still growing their subscription base so that will continue for a few quarters at least. But then at some point it'd reach steady state which I have no idea how to determine.




Spot on SKC

As an inveterate knife catcher I find it real hard to think past price movement to the upside makes for a good investment. I have been proved wrong too many times to think. 

Interesting to note users comments on whirlpool forum all slanging at nearmap for going to subscription-based model. Apparently they all spend their time looking at their houses in high res! Also gives an interesting viewpoint on users of the service: costing, customer response and friendliness etc.

Your insightful comment re change to upfront cashflows is obvious now that you say it but it had never occurred to me. Will be interesting to watch going forward. Watching because i don't know what to do.


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## skc (19 April 2013)

*Re: NEA - Nearmap*



Huskar said:


> Spot on SKC
> 
> As an inveterate knife catcher I find it real hard to think past price movement to the upside makes for a good investment. I have been proved wrong too many times to think.
> 
> ...




I used to use nearmap as well when buying property and it's a great way to see what the house and the block looks like. Of course people are going to complaint on whirlpool - they lost access to a great tool that used to be free... actually goes to show how useful it is.

To be totally honest I don't know what proportion of subscription fees are paid upfront, since they don't tell you the price and payment terms of their services anyway.


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## mr. jeff (21 April 2013)

*Re: NEA - Nearmap*

Hard to know how the pricing structure works and trying to find out more. Will let you know if I find anything.
I sold my holding, but I am keen to keep watching and perhaps re-enter if their pricing and sales are sustainable. I still think that as a tech venture this one deals with very profitable information which will be considered invaluable to many companies. It could take a hit if any serious competitors come along, but at this stage I am going to watch the 3B's very closely to see who shows up...


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## Gunlom (22 April 2013)

*Re: NEA - Nearmap*

I used near maps for advertising my small business so when it went behind the paywall , I applied to join they took almost 2 months to get back to me , and the cheapest plan was $4500 per year for 3 years,
 I emailed back that I only need access to a select number of suburbs ( about 5-6) so state wide coverage is pointless for me. No reply yet

I would pay a small amount to get this but can't justify the full fee, I feel that they are leaving a small but significant revenue stream untouched.

So is back to google maps for me, no way as good but still manageable


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## skc (22 April 2013)

*Re: NEA - Nearmap*



Gunlom said:


> I used near maps for advertising my small business so when it went behind the paywall , I applied to join they took almost 2 months to get back to me , and the cheapest plan was $4500 per year for 3 years,
> I emailed back that I only need access to a select number of suburbs ( about 5-6) so state wide coverage is pointless for me. No reply yet
> 
> I would pay a small amount to get this but can't justify the full fee, I feel that they are leaving a small but significant revenue stream untouched.
> ...




That seems to be the feedback from mostly smaller businesses...

But I think as a company with limited selling resources, targeting the larger enterprises first is definitely the right way to go. Customising subscription for smaller businesses can come later...

If they are smart they would have collected and kept the data on who was accessing their sites when it was free. It'd be a great direct sales model as long as their pricing is sensible.


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## pixel (22 April 2013)

*Re: NEA - Nearmap*



mr. jeff said:


> Hard to know how the pricing structure works and *trying to find out more. Will let you know if I find anything.*
> I sold my holding, but I am keen to keep watching and perhaps re-enter if their pricing and sales are sustainable. I still think that as a tech venture this one deals with very profitable information which will be considered invaluable to many companies. It could take a hit if any serious competitors come along, but at this stage I am going to watch the 3B's very closely to see who shows up...




Thanks Mr J.
I would really appreciate that info. Tried to find out more myself, but as I only asked online and stated that I was merely a private user, they didn't even bother to call back.

From a company p.o.v. I don't hold that against them, assuming they have bigger fish to fry. It'll be interesting to see how their branching-out into Overseas markets progresses. I'd also like to get a feel for the costs involved for each new update. But that is probably their best-kept secret 

Disclosure: I sold all but a small holding; but I won't spend the profits on a subscription.
I also left a bid inside the gap:


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## mr. jeff (2 May 2013)

*Re: NEA - Nearmap*

http://www.asxvalue.com/2013/01/23/nearmap-the-cash-cow-has-started-mooing-nea/

A bit old but something...

further to that:



			
				Nearmap email contact said:
			
		

> Thanks for your interest in nearmap.com
> 
> Regarding our fee structure I can tell you what we have disclosed to the market through investor presentations etc.  This is an approximation of our current fee structure, and as we have commented recently, we are reviewing our fee structures to more align to our overall vision/strategy of an aspirational target of 30 - 50,000 subscribers paying an average of $1,000 per year.  In this regard, we are looking at pre-paid and single user products as an extension of our product offerings.
> 
> ...





Hope that helps - very promising future products to come and I get the impression that sales are going to continue growing for a while whilst they bring access to the market. There is a lot mentioned on twitter worth looking at as well.

I don't think sales expectations are unrealistic and I am holding based on basic figures...
Also worth noting is that today is a low volume down day which could be interpreted as a sign of strength which I have taken as a further entry point. This sounds like a ramp so please use your own judgement and remember that I hold and have it tipped.


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## ando1987 (3 May 2013)

*Nearmap NEA?????*

Hi everyone, I'm very new to this forum or any type of forum for that matter..
Was just curious about everyone's thoughts on Nearmap?
I bought about 39215 shares for $0.255 the other day and sold them at $0.29
I have repurchased 39215 shares for $0.255.. 
Should i hang on to them for a little while?
Whats everyone's thoughts??

Thanks in advance.


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## mr. jeff (6 May 2013)

*Re: Nearmap NEA?????*



ando1987 said:


> Hi everyone, I'm very new to this forum or any type of forum for that matter..
> Was just curious about everyone's thoughts on Nearmap?
> I bought about 39215 shares for $0.255 the other day and sold them at $0.29
> I have repurchased 39215 shares for $0.255..
> ...




Ha the same old test of the forum members

We cannot give advice. 

If you want sentiment on a stock then read the thread - it has been updated recently. 
Then you could do some research on this stock that you are holding.
And then help us all learn more and make better decisions. Its a circle.


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## sinner (6 May 2013)

*Re: NEA - Nearmap*



> It will pull back tmr imo. The quarterly cash flow is good but anyone annualising that will be in a big shock in a few more quarter's time.




I am interested in how you value a company like this?

Cash Flows / Shares Outstanding ~= 0.01 

So that puts price about ~28 multiple? 

Without a dividend, the market is essentially pricing a very high (>25%Y) growth rate in this figure?

Please correct me if I'm wrong.


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## McLovin (6 May 2013)

*Re: NEA - Nearmap*

Peer comparison

Some sort of metric built around number of subscribers.

My old favourite from the dot bomb era "earnings before expenses" (ie revenue).

Clearly there is some sort of breakeven point after which profit should grow pretty fast, assuming these guys have high fixed costs.

Any DCF will have so many assumptions built into it it will be useless.

The easiest way is probably to make some guesstimates around subscriber growth and revenue, then try and work out fixed/variable costs and go from there. It will give you a nothing more than a ballpark figure.


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## sinner (6 May 2013)

*Re: NEA - Nearmap*

If it's not too much trouble McLovin, would you mind providing an example of how you'd value this (or an imaginary example) company based on revenues?


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## McLovin (6 May 2013)

*Re: NEA - Nearmap*



sinner said:


> If it's not too much trouble McLovin, would you mind providing an example of how you'd value this (or an imaginary example) company based on revenues?




I'd never value anything based solely on revenue. The jist of what I was saying (poorly) is that the more speculative the company the less one should rely on the valuation and the wider the margin of safety. Ultimately, you still need to come up with some sort of profit (as a proxy for cash flow) with which to base a valuation. 

I'm afraid it's a bit beyond me how to work out a value that makes me sleep at night for these sorts of companies, however if you're interested, you might like this ppt from Damodaran on valuing young, unprofitable firms.

http://people.stern.nyu.edu/adamodar/pdfiles/country/darkside.pdf


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## mr. jeff (6 May 2013)

*Re: NEA - Nearmap*

I would propose taking from post #18 all the figures from the CFO, halving the projection and making that projection a 5 year target. Then create  a lineal prediction per year based on 

1. Start from figures from past quarterly
2. Determined projection based on forecast / 2

Then you have the yearly total expected sales for the next 5 years. 
I would then factor in some increasing costs that vary inversely with profit to be safe (by percentage)

Then you can either perform an extremely questionable DCF on that set of figures or you can just pick a P/E from peers and apply that to the projected income at any point in time.  If you want to, you can then use the P/E to come straight back to a share price at any point in that projection. 

This will probably just make you realise that it could end up anywhere depending on thousands of factors and that it is worthwhile having some sort of projection, but spending a lot of time on the figures is probably not going to help that much in a buy/sell type decision, as it all depends on your own input into the forecast.


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## pixel (6 May 2013)

*Re: NEA - Nearmap*



mr. jeff said:


> I would propose taking from post #18 all the figures from the CFO, halving the projection and making that projection a 5 year target. Then create  a lineal prediction per year based on
> 
> 1. Start from figures from past quarterly
> 2. Determined projection based on forecast / 2
> ...




Or you could take Sir Alan Greenspan's approach to price predictions and "toss a coin".

The most reliable determinant of a company's present share value is its present trading level. That integrates all available data and - in part where applicable - assumptions about probable directions in a consensual opinion by the average participants in the Market. Accepting market sentiment sure beats trying to guess by oneself. Saves a lot of time as well.


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## sinner (6 May 2013)

*Re: NEA - Nearmap*



pixel said:


> Or you could take Sir Alan Greenspan's approach to price predictions and "toss a coin".
> 
> The most reliable determinant of a company's present share value is its present trading level. That integrates all available data and - in part where applicable - assumptions about probable directions in a consensual opinion by the average participants in the Market. Accepting market sentiment sure beats trying to guess by oneself. Saves a lot of time as well.
> 
> View attachment 52046




pixel, I have no issues with valuing a financial instrument based on technicals or quantitative measures. I was just curious to hear from the value guys how they might determine where this stock is deemed cheap or expensive.


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## skc (6 May 2013)

*Re: NEA - Nearmap*



sinner said:


> pixel, I have no issues with valuing a financial instrument based on technicals or quantitative measures. I was just curious to hear from the value guys how they might determine where this stock is deemed cheap or expensive.




Here's a broadbrush approah doing it backwards. High growth internet companies can easily attract PE 20+ (look at REA and CRZ). The current market cap of ~$89m, so a PE 20x implies earnings ~$4.5m, or 1.4cps.

Looking at what they did last quarter with ~$2.0m operating cashflow, you'd say a translation to $4.5m a year NPAT isn't a huge stretch. 

This may not make it a fundamental value buy - but at least a logically sensible punt if you think those quarterly incomes are just at the infancy of its growth.


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## pixel (6 May 2013)

*Re: NEA - Nearmap*



skc said:


> Here's a broadbrush approah doing it backwards. High growth internet companies can easily attract PE 20+ (look at REA and CRZ). The current market cap of ~$89m, so a PE 20x implies earnings ~$4.5m, or 1.4cps.
> 
> Looking at what they did last quarter with ~$2.0m operating cashflow, you'd say a translation to $4.5m a year NPAT isn't a huge stretch.
> 
> This may not make it a fundamental value buy - but at least a logically sensible punt if you think those quarterly incomes are just at the infancy of its growth.




Fair approach, skc;
and quite a simple one too.

The open question is then how much you estimate their *forward *earnings to be. 
In their latest presentation, they seem to expect growing revenue streams, even within the next year. It would therefore be reasonable to assume annual earnings to be somewhere in the region of $ 8 to 12 Million.

Maybe that justifies the continuing uptrend?
In any case, I'm happy to hold a while longer, even at current prices.


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## McLovin (6 May 2013)

*Re: NEA - Nearmap*



skc said:


> Here's a broadbrush approah doing it backwards. High growth internet companies can easily attract PE 20+ (look at REA and CRZ). The current market cap of ~$89m, so a PE 20x implies earnings ~$4.5m, or 1.4cps.
> 
> Looking at what they did last quarter with ~$2.0m operating cashflow, you'd say a translation to $4.5m a year NPAT isn't a huge stretch.
> 
> This may not make it a fundamental value buy - but at least a logically sensible punt if you think those quarterly incomes are just at the infancy of its growth.




The only problem with using peer comparisons is making sure they're actually peer comparisons. How comparable are CRZ and REA to these guys? NEA seems to be quite a specific mapping product. I mean how many people are going to need/pay to find their nearest pizza restaurant or vertical blind store, and what it looked like from space, 1 week, 1 month, 1 year ago, from NEA when it's all free on Google Maps? I have no idea how big the market for NEA's specific product is but surely it's far smaller than a mass consumer website like CRZ and REA.

Unless I've missed something about their product?

ETA: That's not to say I have a better method, I don't. Just pointing out that it might be an apples v oranges comparison


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## odds-on (6 May 2013)

*Re: NEA - Nearmap*



sinner said:


> I am interested in how you value a company like this?
> 
> Cash Flows / Shares Outstanding ~= 0.01
> 
> ...




Hi Sinner,

If there is insufficient profitable operating history to gain confidence in the survival of the business over the next couple of years I personally would only value it by calculating Liquidation Value. Position sizing would be like an angel investor portfolio.

Cheers

odds-on


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## sinner (7 May 2013)

*Re: NEA - Nearmap*



odds-on said:


> Hi Sinner,
> 
> If there is insufficient profitable operating history to gain confidence in the survival of the business over the next couple of years I personally would only value it by calculating Liquidation Value. Position sizing would be like an angel investor portfolio.
> 
> ...




Hey odds-on, 

Thanks for your input. I just finished reading Seth Klarmans "Margin of Safety" tonight and it sounds like you have read it too?


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## odds-on (7 May 2013)

*Re: NEA - Nearmap*



sinner said:


> Hey odds-on,
> 
> Thanks for your input. I just finished reading Seth Klarmans "Margin of Safety" tonight and it sounds like you have read it too?




Never read it, too expensive for me  Can i borrow your copy? 

http://www.amazon.com/Margin-Safety-Risk-Averse-Strategies-Thoughtful/dp/0887305105

If you ever get the chance read some academic papers on business failure, it changed my view of business and investing.


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## mr. jeff (9 May 2013)

*Re: NEA - Nearmap*

Some figures which are all guesses based on the theory that there will be 70M in sales in the future -  I put this about 3-4 years out based on current subscription growth plus the added sales growth from single user licensing I expect to be released next year - sooner would be better. (highlighted on data)

View attachment NEA SIM.pdf


Almost completely unfounded but it shows an interpretation. I have also indexed costs using a simple proportionate rise with income. As far as cash  flow goes, that could be anything...


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## SuperGlue (25 May 2013)

*Re: NEA - Nearmap*

Article from Sydney Morning Herald:

Growth targets - and the Google risk

Further growth could be achieved, as the company expands its coverage beyond capital cities and outlying regions. And it's not just Australia that Nearmap could target. The ultimate target is to cover over 20 per cent of the world's population or around 700 cities, with PhotoMaps updated monthly.


Read more: http://www.smh.com.au/business/motl...ising-stock-20130522-2k0hh.html#ixzz2UGNEXNPB


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## Country Lad (25 May 2013)

*Re: NEA - Nearmap*



> "......we are planning to launch new subscription structures in the near term that will further broaden our user base.”




As a recent user of Nearmaps, I was asked to complete a survey by the company.  I have strongly suggested they do the above, and in particular, single user small business rates as well as appropriate lower rates for personal use.  There is huge potential for these - smaller subs/margin but huge volume.

Cheers
Country Lad


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## ROE (25 May 2013)

*Re: NEA - Nearmap*

Get an iPad and use Apple maps ..they provide similar information for free...

Apple bought out a mapping company about 2 years ago doing similar work to Near Map where they capture
3D high Resolutions for most US city.....close up...fly by shot...they do cover other cities outside US and it just a matter of time before they roll out more....

http://www.apple.com/au/ios/maps/

Microsoft, Google and Apple are very big in mapping area and they already has infrastructure in place if they want to do something similar to Near Map it wouldn't take much effort...


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## SuperGlue (26 May 2013)

*Re: NEA - Nearmap*



> The company's patents are based on an aerial camera system called “HyperPods”, which allow large areas to be captured cheaply and quickly. Its photos capture several angles, are higher clarity, and are updated more frequently than free alternatives.




I don't know much about maps & mapping technology, but if what it says above, patented, cheaply & quickly, then NEA may have an advantage. 
Only time & fast changes in technology will tell.


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## ROE (26 May 2013)

*Re: NEA - Nearmap*

nothing special in this patent they just pattern one way of capturing photos, there are hundred of way of taking photos ....

just like computer software patents, there are hundred of ways of achieving the same result...
Samsung/Google android doing exact same thing as Apple and stealing its market share fast...and Apple has millions of patents on software

Facebook look to move into mapping area as well 
http://www.afr.com/p/technology/google_eyes_waze_as_facebook_circles_EYtwqieVrqenMUw4DRpQTP

having said that NEA market is different from these guys but I wouldn't bet on their patterns as a competitive advantage when you deal with companies that are several thousand times bigger with deeper pockets and bigger resource pool....

NEA best describe as niche market filling a hole that Google/Microsoft/Apple/Facebook has not spend a lot of time on it...what happen when they do get into it and this product is free vs a paid product? ...look at what happen when Internet explorer offered free when Netscape cost $10 a pop....


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## Smurf1976 (26 May 2013)

*Re: NEA - Nearmap*

The main practical use I'm aware of for the product relates to enforcement by various authorities.

For example, Nearmap makes it very easy for your local council to know exactly when that new extension was built and whether or not it had approval. No arguing there.

There are similar applications relating to insurance, the electricity industry and others. Basically for anyone who wants to prove when something outdoors was done, there's huge value in regularly updated aerial photos. Police might have a use for it too I would think. 

I'm 100% certain that electricity distributors are using it in some areas. Not sure about the others but there are obvious applications.


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## mr. jeff (27 May 2013)

*Re: NEA - Nearmap*



Smurf1976 said:


> The main practical use I'm aware of for the product relates to enforcement by various authorities.
> 
> For example, Nearmap makes it very easy for your local council to know exactly when that new extension was built and whether or not it had approval. No arguing there.
> 
> ...




It would be difficult to imagine google flying weekly or monthly to update their image service for nothing. Just can't see the point in that. If you use google earth, many of the satellite photos for Australia's areas are 3-5 years old or more. The cost of updating and managing the systems has to be paid for and for the data to be integrated into the geo-spatial mapping software it is highly advantageous. This niche would not suit google's approach of applying technology to mass markets. Of course this may change and perhaps it will. They may also seek to just take NEA software, licensing and customer base by just taking it over and then re-branding.


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## ROE (30 May 2013)

*Re: NEA - Nearmap*

Check out the newly launch Google map in the last few days....

I dont know why you need to pay for any other mapping...they now integrate Google Earth and satellite view 
and various photo source that you can fly buy and take very good 3D pictures of any building.

It pretty damn amazing..... right now invitation only....but it wont be long before a global launch...

You can get pretty much what you need free maybe not everything but it provide good enough details
that paid for something like this is hard to justified...

And when Google doing something like this, Microsoft and Apple will again try to revamp their maps and 
maybe up a bit more and on and on it goes you get better product each year for free...

Here is a preview if you cant get access
http://www.youtube.com/watch?v=-_87-fMw4Fc


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## ROE (30 May 2013)

*Re: NEA - Nearmap*



mr. jeff said:


> It would be difficult to imagine google flying weekly or monthly to update their image service for nothing. Just can't see the point in that. If you use google earth, many of the satellite photos for Australia's areas are 3-5 years old or more. The cost of updating and managing the systems has to be paid for and for the data to be integrated into the geo-spatial mapping software it is highly advantageous. This niche would not suit google's approach of applying technology to mass markets. Of course this may change and perhaps it will. They may also seek to just take NEA software, licensing and customer base by just taking it over and then re-branding.




NEA has its application but very Niche and without the volume I cant see it justified the cost of keeping maps regularly update...if people want very specific information and NEA carry it sure but for real estate agents...

and majority of user some form of map is good enough and the stuff came out of Google is more than most people need....

the good test would be how many users they can grow in the next few years or if anyone else drop off because of Google recent development and you can bet Microsoft and Apple will follow suit .....if user based slow or going backward you know people find other source for free....


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## SuperGlue (10 June 2013)

*Re: NEA - Nearmap*

Google has agreed to acquire map-software provider Waze for about $US1.1 billion, a person with knowledge of the deal said, seeking to keep competitors such as Facebook from eroding its lead in mobile-navigation programs.

Any possibilty of Facebook having a peek at NEA? 
Though not in the same category as Waze.

http://www.smh.com.au/it-pro/business-it/google-aquires-waze-for-us11b-sources-20130610-2nz31.html


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## McLovin (10 June 2013)

*Re: NEA - Nearmap*



SuperGlue said:


> Google has agreed to acquire map-software provider Waze for about $US1.1 billion, a person with knowledge of the deal said, seeking to keep competitors such as Facebook from eroding its lead in mobile-navigation programs.
> 
> Any possibilty of Facebook having a peek at NEA?
> Though not in the same category as Waze.
> ...




Take a look at NEA's product and you'll see it is not a mass consumer product. It's a specialist mapping service for companies that need high resolution, regularly updated aerial photography. It's highly unlikely that FB would be at all interested in it.


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## skc (11 June 2013)

*Re: NEA - Nearmap*



McLovin said:


> Take a look at NEA's product and you'll see it is not a mass consumer product. It's a specialist mapping service for companies that need high resolution, regularly updated aerial photography. It's highly unlikely that FB would be at all interested in it.




No but there's probably a single use / single area licence that will interest a lot of consumers / SMEs.

I am house hunting at the moment and it would be great to have access to HD recent images rather than grainy Google map image when the house isn't even built yet.


----------



## ROE (11 June 2013)

*Re: NEA - Nearmap*



skc said:


> No but there's probably a single use / single area licence that will interest a lot of consumers / SMEs.
> 
> I am house hunting at the moment and it would be great to have access to HD recent images rather than grainy Google map image when the house isn't even built yet.




Why would you pay for that the agent photos should be good enough ..
Which house you want to capture ....Get a $700 drone that can flight up to 50m to take photos of any place
In HD image -

Lot of cheap drones these day and I reckon sooner or later someone want lot of photos you can buy a 2-5k drone that can do amazing stuff....take photos, video, all automated.....I can tell it to go to X circle around, take dozen of pictures and come back to my home .....

Checkout www.dji-innovations.com

But seriously that is for some enthusiastic person - just another cheap technology that may up the apple cart...


----------



## McLovin (11 June 2013)

*Re: NEA - Nearmap*



skc said:


> I am house hunting at the moment and it would be great to have access to HD recent images rather than grainy Google map image when the house isn't even built yet.




I'm with ROE, a little confused why the average punter needs to see that sort of stuff. Maybe I'm missing something? I bought a house last week and I didn't even look at it on Google Maps. Although it was built about 50 years before Sputnik.


----------



## skc (11 June 2013)

*Re: NEA - Nearmap*



ROE said:


> Why would you pay for that the agent photos should be good enough ..
> Which house you want to capture ....Get a $700 drone that can flight up to 50m to take photos of any place
> In HD image -




The agents photos are inside, not arerial view. 

With aerial photographs you can check out the state of the roof, verify building area, estimate amount of lawn to be mowed, see if the neighbours look after their grounds etc etc.

I'd be happy to pay $50-60 for say 1 week of access to a 2km radius area or something. It's nothing in the scheme of buying a house.

Although I have no idea how big this market is or how much it'd cost to provide such a product offering...

P.S. Speaking of real-estate agent photos.. The use of super wide angle lens is getting ridiculous. A small room can be turned into a spacious loung. Sometimes they stretch things so much that the flatscreen TV at the corner looks like it's 80 inches. They are really pushing my definition of what consititue fair representation.


----------



## ROE (11 June 2013)

*Re: NEA - Nearmap*



skc said:


> The agents photos are inside, not arerial view.
> 
> With aerial photographs you can check out the state of the roof, verify building area, estimate amount of lawn to be mowed, see if the neighbours look after their grounds etc etc.
> 
> ...





I'm in the process of looking for a new house.... I dont use that sort of stuff
Google maps and street view is good enough.... most house I just use agents photos on the net to have a quick idea if I like the place or not....

I don't rely on agents photos...photos are just a way for me to have a quick peak if I like that place or not
I inspect the properties if I am serious in bidding for it...so whether they use ultra wide lenses or some other artificial stuff It wont hide with a personal inspection... 

Psychology wise it is actually a bad tactics if they do try to make the room bigger than it really is because when prospect buyer inspect the place, they will outright get disappointed and that probably kill a sale ....

it better to present a clean, organised and neat place, that get a good wow first impression...telling something that isn't so don't get a good first impression... 

I seen this happen and house that do this sort of tricks stay on the market far longer and they eventually have to retaken the photos to present a more realistic look of the place.

Anyway back to buying houses for me... a block size map, a plan, inspection reports, agents photos and inspection of the place is all I need .. I done this several times already and most of my friend who has multiple properties don't use anything like NEA ..you want to cut down cost not adding more fancy stuff you don't need ...

I think there is a market for it just like I said niche market not the mass market...


----------



## mr. jeff (11 June 2013)

*Re: NEA - Nearmap*

I don't agree with the dismissals of the service that could be available.
It will become something that investors will value as an extra piece of information. 
Imagine looking at buying a development property in XYZ street which is on a  major corridor near the city. 
You want to know what developments have taken place, how large, when and what their areas are.
With this service you just scroll through and track the changes in the area over the last X years. You can then identify what the trend is for the area, where people are moving, what the council is encouraging in the area and where the money is going.
I have seen all this presented by some of the big investment companies in the past, but they combine it with all sorts of data overlays - this information is worth a lot.
Some people are happy with google yes, some people want as much information as possible before making large financial commitments.
Overall, NEA is offering an excellent product which I expect is still seeing growth in the market. Future single user licenses, whether readers here would use it or not, will sell - just how it is controlled and to what extent is unknown.


----------



## McLovin (12 June 2013)

*Re: NEA - Nearmap*



mr. jeff said:


> I don't agree with the dismissals of the service that could be available.
> It will become something that investors will value as an extra piece of information.
> Imagine looking at buying a development property in XYZ street which is on a  major corridor near the city.
> You want to know what developments have taken place, how large, when and what their areas are.
> ...




I don't doubt that their product is excellent, I doubt how big the market really is. For instance, how many property investors are going to examine aerial photography to assist in their decision making? Most share investors use things like newspapers and journals to find shares to buy and I wouldn't be surprised if property investors were the same. Original ideas for the average investor are not common. So, imo, NEA's product will remain a small niche.

People on forums like this will tend to overestimate what the average person will do before making an investment.


----------



## mr. jeff (12 June 2013)

*Re: NEA - Nearmap*



McLovin said:


> I don't doubt that their product is excellent, I doubt how big the market really is. For instance, how many property investors are going to examine aerial photography to assist in their decision making? Most share investors use things like newspapers and journals to find shares to buy and I wouldn't be surprised if property investors were the same. Original ideas for the average investor are not common. So, imo, NEA's product will remain a small niche.
> 
> People on forums like this will tend to overestimate what the average person will do before making an investment.




You may be right with the volume of sales. This may be why they have not released a single access license yet.
This is a serious issue which I am sure the company is struggling with - as well as determining future user numbers.

Perhaps the answer lies somewhere else with a slightly more mass market appealing innovative product which differs from their corporate product and offers more fancy/user interface features but does not provide the same geomatic type information. Although you might just call that Nearmap Earth. I am not going to give them my ideas free anyway!
What they come up with will be interesting to see.


----------



## Smurf1976 (12 June 2013)

*Re: NEA - Nearmap*

I have actually used this to assist with a development application on my property. It wasn't essential, but having a nice clear aerial photo did make for some useful supplementary information.

That said, it didn't cost me anything so it was an easy decision. If I did have to pay then, for a single use such as this, I'd say $5 tops including any associated fees. That is, I don't need it but I used it because I could.

I know that the Tas state government has their own high definition version of something very similar to Google Streetview and they've had it for years (well before Google offered such a thing). That said, they only update it regularly for the major arterial roads that they happen to be interested in. It's used for things relating to planning of roadworks, property accesses and so on - in theory it should save a lot of time otherwise spent on site visits. Presumably there's a market for someone to offer such a service more broadly, but I'd take a guess that it doesn't cost a lot to keep the existing system updated. Set the cameras up on the car and spend a week driving around whenever they need an update.

If someone offered a real time satellite view then that would have a value I'd expect. I can see that people would pay to look, even though they had no essential need to do so.


----------



## pixel (4 July 2013)

*Re: NEA - Nearmap*

break alert!
Looks like I got back in just in time: Bought only 10 minutes ago at 28.5.





Doesn't mean a thing though, so DYOR


----------



## heathlancaster (5 July 2013)

*Re: NEA - Nearmap*

after massive growth this year, has this stock hit a wall?


----------



## pixel (6 July 2013)

*Re: NEA - Nearmap*



heathlancaster said:


> after massive growth this year, has this stock hit a wall?




possibly; however, I've risked a small carry-over into next week. Trailing Stop 27c.


----------



## pixel (18 July 2013)

*Re: NEA - Nearmap*

Financials will be published and explained in a tele conference next Wednesday, 24th of July.




Which way will it go? I got back in at 28 and 28.5 and think I'll risk holding...


----------



## pixel (24 July 2013)

*Re: NEA - Nearmap*

Looks like the teleconference failed to live up to expectations 




But then again: technically, it looks better with this morning's gap-up closed right away.
I'll wait...


----------



## skc (24 July 2013)

*Re: NEA - Nearmap*

The top line receipt was down a bit from last quarter, the actual operating cash flow less R&D concession (not sure how sustainable these are) is ~$1.6m. If you annualise that you get $8m each year against market cap of ~$100m. So on first glance it's probably priced quite right.

The $m question is still whether the $1.6m represents steady-state, or has much further growth, or actually inflated due to high upfront payment. Management can either tell us, or investors can wait another few quarters to find out...


----------



## infamous (31 July 2013)

*Re: NEA - Nearmap*



> nearmap receives new patent for its aerial
> mapping system
> 
> nearmap ltd (ASX: NEA) is pleased to announce that the United States Patent
> ...



Interesting development... up 5% today


----------



## pixel (31 July 2013)

*Re: NEA - Nearmap*



infamous said:


> Interesting development... up 5% today




Make that 10% by now 





Could well turn into a long-term holding.


----------



## pixel (2 August 2013)

*Re: NEA - Nearmap*

new Intraday High; current vwap 35.1c




I hold (not enough  )


----------



## Smurf1976 (2 August 2013)

*Re: NEA - Nearmap*

In terms of who uses it, there's been a fuss recently about a council in Tasmania fining people who didn't get council approval to install solar panels. Not that most councils require such approval in the first place, but this one has since November 2012 and has started handing out fines it would seem.

I don't know for sure, but I'd guess that they may well be using Nearmap to identify unapproved installations. It's certainly the easiest and most obvious way they could do it.


----------



## galumay (2 August 2013)

*Re: NEA - Nearmap*



Smurf1976 said:


> In terms of who uses it, there's been a fuss recently about a council in Tasmania fining people who didn't get council approval to install solar panels. Not that most councils require such approval in the first place, but this one has since November 2012 and has started handing out fines it would seem.
> 
> I don't know for sure, but I'd guess that they may well be using Nearmap to identify unapproved installations. It's certainly the easiest and most obvious way they could do it.




The Tasmanian Government has their own imaging system - and therein lies the problem for me with NEA, I just don't see any competitive advantage nor any way they will be able to successfully monetise via subscriptions.

Its mainly for that reason they fell off my watch list.


----------



## mr. jeff (22 August 2013)

*Re: NEA - Nearmap*



pixel said:


> Make that 10% by now
> 
> View attachment 53626
> 
> ...




They keep delivering the goods and this is growth stock with unknown potential for growth. 
There are product areas yet to be expanded into and with no majors with a blocking stake, it is anyone's game at this stage. A good uptrend with earnings and potential. 

I still this as a decent prospect - a speculative prospect to be clear.

Cheers.


----------



## pixel (22 August 2013)

*Re: NEA - Nearmap*

I have taken profit for now.
While I agree with Mr Jeff, especially about the attributes "unknown potential" and "speculative", I'm aware that the Market doesn't always see things my way. Advances were rejected at 40c resistance, which was foreshadowed by MACD's Bearish Divergence and confirmed a few days later where the red arrow signals the stop condition. (I often anticipate that stop and exit "when in doubt".)




Currently, lack of volume suggests disinterest; I'll reenter when volume (and momentum) underpins evidence of support. That could be as early as tomorrow or at the end of another leg down around 29-30c.


----------



## infamous (7 October 2013)

*Re: NEA - Nearmap*

Any thoughts as to why NEA jumped 8% this morning?


----------



## pixel (7 October 2013)

*Re: NEA - Nearmap*



infamous said:


> Any thoughts as to why NEA jumped 8% this morning?




I could suggest a Technical reason: Bounce off Fib 61.8% support and break to new High:




But I presume you'd rather find a fundamental reason. Sorry - don't know.


----------



## mr. jeff (8 October 2013)

*Re: NEA - Nearmap*



pixel said:


> I could suggest a Technical reason: Bounce off Fib 61.8% support and break to new High:
> 
> View attachment 54701
> 
> ...




Don't underestimate the effect of bringing in some new team members with strong histories. Most likely that will attract some extra buyers that follow these guys. I actually feel that the company has more of a chance at continued growth with a  better team and a longer future.

Also, looking at trading I would say that there aren't many people selling. Looks like NEA is sitting at the top of the trend channel and usually just moves down again after a short surge like this . With no major volume I wouldn't get too excited just yet.


----------



## infamous (11 October 2013)

*Re: NEA - Nearmap*

Wow... another 13.5% this morning on release of the quarterly report.



> *nearmap continues to grow sales and
> cashflows *
> 
> nearmap ltd (ASX: NEA) is pleased to announce that it has continued to
> ...


----------



## galumay (11 October 2013)

*Re: NEA - Nearmap*

Looks like one i misjudged, I still dont understand how there is a market for their product and why anyone would subscribe - and following my rule of not buying companies that I dont understand means I have missed out on this one!


----------



## jbocker (15 October 2013)

*Re: NEA - Nearmap*

Their report reads well for this stock. Glad I hung onto a parcel of shares, I was hoping they would become a dividend payer, which is yet to happen. I see they no longer have dealings in IP business, although I reckon their experience in that would be very useful in Nearmap patents.

Good price jump today, 12.79%.


----------



## ROE (15 October 2013)

*Re: NEA - Nearmap*

Well done guys, I have the opportunity to get at 25c but I didn't as I still haven't work out how they would generates plenty of money with this work where other can do it for free at a lesser quality -

But I was wrong I guess, good luck for future gain


----------



## jdenhaan (28 November 2013)

*Re: NEA - Nearmap*

Wow. This stock is a rocket. Any reason for the recent jump?


----------



## Julia (28 November 2013)

*Re: NEA - Nearmap*

There have been some recent broker BUY recommendations.  No idea whether that's the reason.
Haven't been following it.


----------



## infamous (19 December 2013)

*Re: NEA - Nearmap*

Some very healthy movement on the back of this announcement.



> nearmap signs licence agreement for Google
> Maps
> 
> nearmap ltd (ASX: NEA) has announced a new commercial licence
> ...


----------



## Muschu (3 January 2014)

*Re: NEA - Nearmap*

Good day, in a down market, and on the back of no news I am aware of.


----------



## telefomin (8 February 2014)

*Re: NEA - Nearmap*

I hold this stock but with little confidence.  Behaviour such as taking down their Facebook page concerns me.  I wonder about the transparency.


----------



## infamous (9 February 2014)

*Re: NEA - Nearmap*



telefomin said:


> I hold this stock but with little confidence.  Behaviour such as taking down their Facebook page concerns me.  I wonder about the transparency.




Their Facebook page has been down for over a year now, but they're fairly active on LinkedIn & Twitter.


----------



## MRK777 (12 February 2014)

*Re: NEA - Nearmap*

I'm new to the forum and see this stock has seriously accelerated over the last 12 months so I'm assuming a lot of upside is already built into the current price, requiring a huge revenue spike before the end of this FY to meet expectations. My main concern in reading the last annual report is that the management team seems comprised only of technical / financial people and lacks commercial / sales people to make this happen. We've all seen startups with great products that fail to realise their potential, is NEA in that category?

Other concern is around building / maintaining internal knowledge and attracting talent to achieve the required growth. Employee reviews on Glassdoor look shocking. Anyone have any insights to share? Thx.


----------



## pixel (12 February 2014)

*Re: NEA - Nearmap*



infamous said:


> Their Facebook page has been down for over a year now, but they're fairly active on LinkedIn & Twitter.




Today's presentation of Nearmap Rail makes good reading: http://www.asx.com.au/asx/statistics/displ...;idsId=01490680

and the Market reacts with good early volume





Full steam ahead  I hold.


----------



## infamous (12 February 2014)

*Re: NEA - Nearmap*



pixel said:


> Full steam ahead  I hold.



I actually sent an email my boss this morning recommending we use the product for future (ICT) projects.

Considering the quality & frequency of updates, it would be a great tool for tasks that would normally require site visits & mobilisations, which for the skilled staff and all the required OHS, flights, equipment hire and local transport etc often costs around 30-40K per mobilisation.

I see this being a big hit for Nearmap.
Mining services, infrastructure giants like Brookfield rail, government services like PTA, etc will jump on this I reckon.

Time will tell if I'm right... still holding


----------



## Muschu (12 February 2014)

*Re: NEA - Nearmap*

The references on Glassdoor are one reason that prompts me to sell.  Perhaps more later.


----------



## telefomin (12 February 2014)

*Re: NEA - Nearmap*



MRK777 said:


> I'm new to the forum and see this stock has seriously accelerated over the last 12 months so I'm assuming a lot of upside is already built into the current price, requiring a huge revenue spike before the end of this FY to meet expectations. My main concern in reading the last annual report is that the management team seems comprised only of technical / financial people and lacks commercial / sales people to make this happen. We've all seen startups with great products that fail to realise their potential, is NEA in that category?
> 
> Other concern is around building / maintaining internal knowledge and attracting talent to achieve the required growth. Employee reviews on Glassdoor look shocking. Anyone have any insights to share? Thx.




The Glassdoor reviews are certainly a concern as it the rapid staff turnover.  A colleague uses NEA services and is very unhappy about staff stability and turnover.  This has an impact on customer service in his view.


----------



## jdenhaan (27 February 2014)

*Re: NEA - Nearmap*

Tanking hard. Any reason for this? Numbers are not looking too bad...


----------



## ROE (27 February 2014)

*Re: NEA - Nearmap*



jdenhaan said:


> Tanking hard. Any reason for this? Numbers are not looking too bad...




Maybe of those employment conditions people talk about, if it does come true it can have a real impact on the business.

A good company rarely treat their employee badly, Phil Fisher (common stock, uncommon profit)


7. Does the company have outstanding labor and personnel relations? According to Fisher, a company with good labor relations tends to be more profitable than one with mediocre relations because happy employees are likely to be more productive. There is no single yardstick to measure the state of a company's labor relations, but there are a few items investors should investigate. First, companies with good labor relations usually make every effort to settle employee grievances quickly. In addition, a company that makes above-average profits, even while paying above-average wages to its employees is likely to have good labor relations. Finally, investors should pay attention to the attitude of top management toward employees.

remember NEA operate in a highly technical field they need bright and smart people to hang around, if smart and bright people are unhappy and leave the firm what do you have?
its not like maca where you have endless supply of school kids.

you only need to look at what Google and high tech firms offered their employee to see these guys recognise keeping smart people happy not only make sense but it also very good for business.
I got friends working for Google and leaving them never enter their mind, now that is some seriously good business.


----------



## rattler888 (27 February 2014)

*Re: NEA - Nearmap*

Mmm but I doubt the stock price is tanking purely on a few glass door reviews and comments here?  Seemed to be on the back of some good revenue news too..


----------



## Porper (27 February 2014)

*Re: NEA - Nearmap*



jdenhaan said:


> Tanking hard. Any reason for this? Numbers are not looking too bad...




Hardly tanking...it's had a great run so a retracement is to be expected. Technically $0.39 possible before trend resumes. Looks good still. I don't hold.


----------



## Muschu (27 February 2014)

*Re: NEA - Nearmap*

I found this post on another website

"Cash at bank approaching $20m which is nice, but at current market cap with no real assets there's $150m+ based on goodwill and/or future earnings. 

Unless this company can build a sustainable revenue engine this thing is going DOWN and with the longest tenured sales person at 6 months (per LinkedIn) I have serious doubts that can be realised...."


----------



## Muschu (10 March 2014)

*Re: NEA - Nearmap*

From, eurekareport.com.au via Google


3 March 2014


The reporting season may have gone better than many had expected but the period held its fair share of disappointers.

The two worst-received earnings reports from our watch list last month came from packaging group Colorpak (CKL) and mapping services company Nearmap (NEA).

Colorpak got the wooden spoon with the stock underperforming the ASX All Ordinaries by 11.7% on February 3 – the day it released a weaker than expected first half result with underlying net profit crashing 44% to $2.7 million group revenue falling 11% to $82.6 million.

Analysts polled on Bloomberg have cut their 2014-15 earnings per share projection by nearly 10% to 9 cents even as the company said it would return to growth in that year.

I downgraded the stock on the result as I believe there will be time to buy back into the Colorpak story with the stock continuing to lag the market by 8.9% in the week following the earnings news.

Nearmap also didn’t give shareholders much to cheer about. The stock underperformed the All Ordinaries by 10.9% on February 24 when management discovered that a 96% surge in revenue to $7.9 million and a maiden interim profit of around $800,000 were not enough to keep the stock in investors’ good books.

The problem was that the market was expecting a bigger reward for pushing the stock up over 300% in the last 12-months.

Consensus forecast had to cut their 2014-15 EPS target on the once-market darling by 10.1% to 1.5 cents. The stock is trading close to five-month low on Monday of 46 cents.

This puts the stock on a very large price-earnings (P/E) multiple and stocks that trade on blue-sky multiples have really no room to disappoint.


----------



## SuperGlue (6 May 2014)

*Re: NEA - Nearmap*

NEA pop up 10% after they:

 "announce the commencement of test flights of its aerial camera system in the United States. These test flights form part of the Federal Aviation Administration (FAA) approval process for operating nearmap’s aerial camera system in the US."

"Commenting on the commencement of US test flights, nearmap Managing Director Simon Crowther said: “This is a key step on the path to international certification for our aerial camera system, and a precursor to international operations”.

http://www.asx.com.au/asxpdf/20140506/pdf/42pg8fzcwxf4z0.pdf


----------



## McCoy Pauley (11 June 2014)

*Re: NEA - Nearmap*

Potential for the 800lb gorilla in the room to stomp on Nearmap has just increased, I would have thought, with Google announcing that, subject to regulatory clearance, it has agreed to acquire Skybox Imaging for US$500 million.  According to Reuters' report reprinted on The Age website this morning:



> Skybox has built satellites packed with sensors and camera electronics that take high-resolution images and video of the earth but which it says are smaller and lighter than traditional satellites. The company, which like Google is based in Mountain View, California, has launched one satellite and had planned to launch a constellation of 24 satellites, according to the company's website.




http://www.theage.com.au/it-pro/bus...te-company-skybox-imaging-20140610-zs3hk.html


----------



## Muschu (11 June 2014)

*Re: NEA - Nearmap*

My understanding is that WSR may be acquiring Spookfish [geospatial imagery company] and could become a serious competitor to NEA.

NEA remains highly speculative imo.


----------



## pixel (15 September 2014)

*Re: NEA - Nearmap*

Today I received an email from NEA with a "special offer" valid for 7 days only:
1 year 1 State 50MB @$99 
1 year all States 250MB @$199




I can only surmise that they know I'm a one-man band; when I made enquiries a year or so ago, fees were an order of magnitude higher. Can we draw any conclusion from this new ad campaign??? 

PS: I'm no longer a holder, so it's unlikely a "shareholder discount".


----------



## Miner (8 January 2015)

*Re: NEA - Nearmap*



pixel said:


> Today I received an email from NEA with a "special offer" valid for 7 days only:
> 1 year 1 State 50MB @$99
> 1 year all States 250MB @$199
> 
> ...




Any one following this thread or stock ?
With mining depression what could be the future of this GPS technology considering there are plenty of them in market ?
Is it a fly by night operator 
Do not hold but interested to know before making a jump


----------



## pixel (8 January 2015)

*Re: NEA - Nearmap*



Miner said:


> Any one following this thread or stock ?
> With mining depression what could be the future of this GPS technology considering there are plenty of them in market ?
> Is it a fly by night operator
> Do not hold but interested to know before making a jump







Definitely no "fly by night"-ers; they've been around for years and their business model makes good sense.
While they offered free registration, I made frequent use of their successive high-resolution images. Even tasks as trivial as monitoring progress of renovations in our Strata Complex were made easier, so I can well understand how City Councils like using them to keep track of building permits and work progress without having to send a fleet of inspectors around. So, they're definitely not limited to mining projects.
I suggest you check some of their reports of the last couple of years.


----------



## Muschu (27 January 2015)

*Re: NEA - Nearmap*

The staff / CEO issues seem to just go on and on

http://www.glassdoor.com.au/Reviews/Employee-Review-nearmap-RVW5723753.htm


----------



## Muschu (16 October 2015)

*Re: NEA - Nearmap*

CEO finally gone.... Now maybe there is some hope.


----------



## levin123 (29 April 2016)

*Re: NEA - Nearmap*

Positive announcement today: http://www.asx.com.au/asxpdf/20160429/pdf/436v89y4kf1xdb.pdf

Anyone still holding? 

I sold up - will look for a retracement to buy back in.


----------



## pixel (29 April 2016)

*Re: NEA - Nearmap*



levin123 said:


> Positive announcement today: http://www.asx.com.au/asxpdf/20160429/pdf/436v89y4kf1xdb.pdf
> 
> Anyone still holding?
> 
> I sold up - will look for a retracement to buy back in.








I had left them alone for over a year and only rediscovered them through today's breakout. 
Too late, she cried. But like you, I am putting them back on my watchlist and shall look for an opportunity to buy back on a dip.


----------



## Muschu (29 April 2016)

*Re: NEA - Nearmap*

I refused to hold with the previous CEO at the helm.... Now that he's gone hopefully management will behave "managerially"... 

But as an investor, rather than trader, this company no longer interests me.... They'll strike, imo, better technology coming from other competitors.

Some time after I sold I put an equivalent amount into HZR at 25c and later picked up the options at 1c.... Much happier there... 

However, for those still with NEA long term, if this company can first develop a positive culture and  then move quickly, I hope you do well.


----------



## levin123 (1 May 2016)

*Re: NEA - Nearmap*



Muschu said:


> Some time after I sold I put an equivalent amount into HZR at 25c and later picked up the options at 1c.... Much happier there...




Congrats on HZR, fantastic returns. 

In regards to NEA management, I agree that the departure of the CEO seems to have alleviated the toxic environment. 

Not sure how much traction the US team is getting reading some on the ground accounts of high sales staff turnover and poor commission structures. However, with no debt and a growing a market, I am keen to get back in.


----------



## Miner (6 June 2016)

*Re: NEA - Nearmap*

Motley Fools - under its very expensive newsletter Million Dollar Portfolio recommends it (5 June) has put it as a buy where its recommendation since 18  May 2015 a buy has incurred a loss of 18.5% so DYOR.


----------



## tech/a (18 October 2016)

*Re: NEA - Nearmap*

Cant believe there isn't more chatter on this one.

You guys miss it?

In my 2/10 charts of interest.
With another pattern of interest 5 days later.

https://www.aussiestockforums.com/forums/showthread.php?t=31431&page=2


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## pixel (18 October 2016)

*Re: NEA - Nearmap*



tech/a said:


> Cant believe there isn't more chatter on this one.
> 
> You guys miss it?
> 
> ...







didn't miss it.
Thanks for the heads-up.


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## Knobby22 (19 October 2016)

*Re: NEA - Nearmap*

[Winning the tips with it at present


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## pixel (19 October 2016)

*Re: NEA - Nearmap*

Profit takers move in a tick early @ 92c.
(But I always pitch my sell order a step or two below theoretical targets.)




PS: I also traded NEA's little brother, SFI.


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## Cam019 (29 June 2018)

NEA with an orderly move up from 90 cents. Some nice shallow consolidation patterns forming before resuming its move up. Almost a textbook example. Breakouts are on expanding volume with a reduction in volume within the consolidation patterns. Additionally, NEA has just broken through the previous resistance level at about 1.07 - 1.09, and there is no overhead resistance above current price levels anywhere else on the chart.


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## greggles (10 July 2018)

Cam019 said:


> Additionally, NEA has just broken through the previous resistance level at about 1.07 - 1.09, and there is no overhead resistance above current price levels anywhere else on the chart.




Nearmap has gapped up today, smashing through its previous high of $1.20, and is currently trading $1.33, up 19.28% on yesterday's close.

The catalyst for today's move was an announcement this morning that results for FY2018 are expected to show record growth in group Annualised Contract Value, exceeding previous guidance.

NEA is now in blue sky territory and looking good.


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## myrtie100 (11 December 2018)

I've chosen Nearmap as my top tip for the 2019 yearly tipping competition.
It came up with the highest 252 day rate of change, so I'm hoping the momentum behind this one will take it much higher.
I have marked the weekly chart with a few points of interest.


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## greggles (10 January 2019)

Nearmap gapping up today and finding good buying support following the release of its H1 FY2019 Financial Results. The ACV is up substantially and NEA has affirmed its full year cash flow guidance.






Today's announcement looks like it might give NEA the momentum to take on its previous high of $1.935, reached in September 2018. It's currently trading at $1.755, up 10.03% on yesterday's close.


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## Ann (8 May 2019)

This Bloomberg article may see some interest in it today....

*This Little-Known Stock Rallies 149% to Take Australia's No. 1 Spot*

Australia’s best-performing stock is flying high in more ways than one.

Shares in Nearmap Ltd., which provides aerial images and location data that allow businesses to conduct virtual site visits, have surged 149 percent this year, making it the biggest gainer on the benchmark index. The cloud-based company was added to Australia’s benchmark S&P/ASX 200 index last month.

Its strong performance “is a reflection of years of investment in market-leading technology that is now translating into strong growth in subscription revenue,” said Mason Willoughby-Thomas, a portfolio manager at Ausbil Investment Management, whose fund owns shares of the company. More...


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## tech/a (8 May 2019)

This is a very good stock which is currently coming off
I'm looking at $3.20 - $3.25


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## bigdog (14 November 2019)

The market loved todays AGM announcements











Shares climbed 10% to $2.74 early this morning after the aerial mapping business told investors to expect annualised contract value (ACV) between $116 million to $120 million in fiscal 2020. That would equal growth around 29% to 33% over the $90.2 million in ACV posted over fiscal 2019.

Around 9% of Nearmap’s scrip is currently shorted according to the latest ASIC data with today’s ACV forecast putting the heat on short sellers betting against the business.






76


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## galumay (14 November 2019)

Anyone who was sucked in by that pile of crap that Nearmap put out today deserves to lose their shirts off their backs. I doubt anyone buying this stonk has even the most basic idea of how to read financial statements.

I suspect the only winners here will be the shorters.


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## bigdog (30 January 2020)

ASX Announcement today
30/01/2020 8:25:07 AM *FY20 Market Update and Revised Guidance* (uploaded)

NEA reported annualised contract value (ACV) grew by 23% on the prior corresponding period to $96.6 million during the first half of FY 2020.

NEA unaudited statutory revenue grew 31% over the prior corresponding period to $46.4 million.

NEA has downgraded its full year ACV guidance to the range of $102 million to $110 million. This compares to its previous guidance of $116 million to $120 million.






012


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## sptrawler (30 January 2020)

Jeez that is another one walloped, the market is punishing downgrades ATM.


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## Dona Ferentes (30 January 2020)

It's confession time.


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## finicky (30 January 2020)

Claude Walker (Ethical Equities) has been selling down his shareholding in Nearmap for a while. Sounded pretty fed up with the management in his newsletter sent to paying subscribers before market opened this morning.

"Laughably, its incremental gain in annualised contract value was less than half of what it was in the first half last year. Given this is a company that never bothers to make a profit and has a history of aggressively capitalising aerial photography expenses, I will almost certainly sell my remaining stock"


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## galumay (30 January 2020)

galumay said:


> I suspect the only winners here will be the shorters.




Yup.

A cessna with a box brownie does not make a viable business .


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## Trav. (22 February 2020)

I see that NEA is a dog and you would be mad to invest for the long-term but I am looking at short term trade prospects and NEA is a interesting stock.

- Sold down due to news that every knows about and gap created which is still ~14% down from the 29/1
- Recovered from low which found support @ 1.60
- SP Recovering and testing the $2 level and wave 3 could eat into that gap down area

anyway one for the watch list and will see what happens next week


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## sptrawler (22 February 2020)

I always struggle to get excited about a company that sells what everyone else sells, especially when they are a small player, in a big pond.


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## frugal.rock (23 February 2020)

I thought the product they sell is fairly unique? 
Orthorectified spatial imagery.
The only main competetor I can think of is AAM Hatch, (may have had a name change?)

When Nearmap was free, I remember it was pretty good for time lapse imagery also. 

If they weren't so expensive, I would use them myself... currently I cheat and use a screen shot from six maps (NSW) or Google, but that overlay is discarded and not given to clients.
Just helps me to do my thing, sometimes.
F.Rock


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## sptrawler (23 February 2020)

frugal.rock said:


> I thought the product they sell is fairly unique?
> Orthorectified spatial imagery.
> The only main competetor I can think of is AAM Hatch, (may have had a name change?)
> 
> ...



If you can cheat and by pass them, can't other people? Also I would be surprised if Government dept's, don't have access to very accurate imagery.


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## Trav. (23 February 2020)

The below highlighted comment caught my eye yesterday, as you would have to use a legitimate mapping service for this area as the pirated version wouldn't stand up in court when a vehicle runs of the end of a pier


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## frugal.rock (23 February 2020)

sptrawler said:


> If you can cheat and by pass them, can't other people? Also I would be surprised if Government dept's, don't have access to very accurate imagery.



What Nearmap provides is more accurate and on a much larger scale.
I have to scale a screen shot for what I do and then position it.
It's rough as guts, which is all I need.
I don't give the screen shot to clients.
Just helps me draw lines eg, the back of a house that would be a pain in the butt to survey.
Nearmap is providing much bigger area's, their 'flat' earth photos get rectified for the earth's curvature and also coordinated onto commonly used coordinate systems for mapping or whatever other purpose.

As far as I know, government use AAM Hatch, Google Earth Pro with a special access to more recent imagery and maybe Nearmap also.
The RTA/RMS in NSW use AAM overlays for their design drawings.
Local government use G Earth pro mainly for viewing purposes...
Honestly, Nearmap products are fairly unique. They are not the only provider.
Book an area, they have it flown over, same with AAM.
Google uses satellite imagery. No comparison for imagery quality and accuracy. No LiDar data either.

It's the big end of town using their services due to larger areas involved
Eg, mines, Greenfield subdivisions, new roads, waterways etc.

F.Rock
PS, larger survey firms can do the same thing using drone's, usually small drone's though. Max survey area each go, around 500m^2 and very reliant on no/low wind conditions.
The drone pilot needs a CASA pilot license (scaled down version) APAS ?...no kidding. 
Photos then get processed for roll, pitch & yaw, rectified, positioned.


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## Value Hunter (23 February 2020)

I actually think Nearmap is a good business (I think in another 3 or 4 years it will be producing large profits). I just think given their revenue growth rate and where they are in terms of business maturity their valuation is massive. If the share price dropped below $1 I would certainly take a closer look, but at the current prices I am not keen.


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## Boggo (21 May 2020)

Seems to be plodding along, surprised that there hasn't been a mention of it for a while.
(Disc - I do hold)

(click to expand)


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## frugal.rock (21 May 2020)

@Boggo
I think a lot of stocks have fallen off the radars recently. Nearmap had fallen off my trampings.
Cheers.

F.Rock


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## Boggo (28 May 2020)

https://www.aussiestockforums.com/posts/1073509/

It has really taken off today with some great news.


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## Trav. (28 May 2020)

Very nice mate


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## frugal.rock (30 July 2020)

For those interested in nearmap, you may like to take a look at 3DP
Another player in the market.
DYOR


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## Lucky777 (13 August 2020)

Financials coming out soon, I’ve been following along, they’ve picked up contracts in USA and Aus(government) and are doing well. They have new cloud data centres and their new navig8(AI) system looks good. I expect to hit $4. I came in at about $2.


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## Lucky777 (19 August 2020)

Decided to sell after financials announcement. 

CapEx too high, not really an essential service and customer acquisition. 

19% gain.


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## Lucky777 (20 August 2020)

After looking back, think I pulled the trigger too quickly. Stupid algos and robots making nonsense of it yesterday. I think it will head to $3 - bit slower growth that I had anticipated. Rather use the capital elsewhere.


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## Dona Ferentes (21 August 2020)

some (probably disgruntled) analyst most likely fed this to the journo


> [NEA has] ...taken to excluding customer losses from its operating performance metric showing ... ugh, customer losses.
> That mightn't make much sense because it doesn't. Nearmap told investors that normalised FY20 group churn expressed as a percentage of total subscribers cancelling subscriptions was only 5.5 per cent. That's 5.5 per cent before you include "a small number of large enterprise customers" who cancelled subscriptions over the financial year. When you include them all, churn jumps to 9.6 per cent.





> Apparently investors should exclude certain subscription cancellations from Nearmap's churn metric as they were 'one-offs' including one customer subject to a court injunction in the US*. *For junior software-as-a-service businesses, churn is a closely watched metric by professional analysts as it provides insights into the strength of a product offering and how much ability a company may have to lift prices without losing customers.
> Churn also impacts analysts' calculations over the lifetime value of a subscription portfolio and future profitability



https://www.afr.com/rear-window/nearmap-excludes-churn-from-its-churn-metric-20200820-p55nps


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## Dona Ferentes (11 February 2021)

In Trading Halt, waiting to respond to a *J Capital* report/ sledge


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## galumay (11 February 2021)

As a mate of Claude's, I have no real idea why he ever held a position in this one. Its always looked dodgy.

My language at the time was a bit provocative, but the writing has been on the wall for years with this business IMO.



2019


galumay said:


> Anyone who was sucked in by that pile of crap that Nearmap put out today deserves to lose their shirts off their backs. I doubt anyone buying this stonk has even the most basic idea of how to read financial statements.
> 
> I suspect the only winners here will be the shorters.




2020


galumay said:


> Yup.
> 
> A cessna with a box brownie does not make a viable business .


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## galumay (11 February 2021)

My first posts were in 2013, 



galumay said:


> The Tasmanian Government has their own imaging system - and therein lies the problem for me with NEA, I just don't see any competitive advantage nor any way they will be able to successfully monetise via subscriptions.
> 
> Its mainly for that reason they fell off my watch list.




Later, when they did report some growth



galumay said:


> Looks like one i misjudged, I still dont understand how there is a market for their product and why anyone would subscribe - and following my rule of not buying companies that I dont understand means I have missed out on this one!


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## frugal.rock (12 February 2021)

frugal.rock said:


> For those interested in nearmap, you may like to take a look at 3DP
> Another player in the market.
> DYOR



That post was 30th July last year.
A 1 year 3DP chart...







So Nearmap method of flying and then trying to sell doesn't work in the US.
A clear case of not understanding their market.
I remember being frustrated with Nearmap also as they didn't seem to understand the purpose I wanted to use them for, which would be the case for many surveyors in Australia. 

3DP on the other hand, hired one of the best Sales guys from Eagleview US back in early 2018...


			http://www.pointerra.com/wp-content/uploads/2018/01/3dp-announcement-pointerra-commences-us-operations-final-030118.pdf


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## Miner (12 February 2021)

frugal.rock said:


> That post was 30th July last year.
> A 1 year 3DP chart...
> 
> View attachment 119894
> ...



Near Map, good days are likely to be over.
Read the recent trading halt at the complaint of short-seller J Capital based in China

*https://www.jcapitalresearch.com/nearmap.html *








						Nearmap (ASX:NEA) share price sinks 7% on scathing short seller attack
					

The Nearmap Ltd (ASX:NEA) share price is sinking on Thursday after becoming the latest company to be targeted by overseas short sellers...




					www.fool.com.au


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## galumay (12 February 2021)

Miner said:


> Near Map, good days are likely to be over.




I dunno @Miner, despite all I have posted about this company, I think the J-Cap report brings nothing really new to the table, everyone knew the accounting was loose, that it was a very competitive landscape and that management had been very promotional for years.

Won't surprise me if management release a denial full of hype & narrative for the future, it comes out of suspension and goes up in price. In this market that would seem as probably as anything else!


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## Dona Ferentes (5 May 2021)

Interesting .....

guidance upgrade 


> an increase to the Company’s FY21 Annual Contract Value guidance to $128m-$132m (from $120m-$128m). On the back of a strong 1H21 performance, the Company has seen momentum continue with growth across its core industry verticals from both new and existing customers



...  so NEA jumps 15%, and now entered a *trading halt* in relation to _potential legal proceedings_.


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## galumay (5 May 2021)

Flying their Cessnas too low?


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## Miner (13 July 2021)

Near Map woken from deep slumber giving the market a nice performance and market rewarded with a price rise too.


			https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02394649-2A1309535?access_token=83ff96335c2d45a094df02a206a39ff4


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## galumay (14 July 2021)

Here we go again, more retail investors being set up to lose capital. Have a look at that second graph @Miner - is that whats called scaling up? As revenue has increased each year, so have the losses!!


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## Dona Ferentes (15 August 2022)

Nearmap has received a non-binding indicative proposal from software investment firm Thoma Bravo, to acquire all the shares at *$2.10 cash each.*

Nearmap said its board determined the proposal, which was received on July 6, was “credible and sufficient” to grant non-exclusive due diligence access. Nearmap has granted exclusivity to Thoma Bravo for 7 days starting August 15.

_Three year chart:



_


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## mullokintyre (15 August 2022)

From Business Australian
NEA on the table.
Take the money and run, and run quickly.


> Nearmap has hired investment bank Citi and law firm DLA Piper after receiving a $1.1bn buyout proposal from private equity firm Thoma Bravo.
> The $2.10 per share cash bid values the company’s equity at about $1.1bn and the offer is a 39 per cent premium to Nearmap’s closing share price of $1.51 on Friday.
> 
> Thoma Bravo is working with law firm Gilbert + Tobin and has been granted exclusive due diligence for seven days.
> ...




Mick


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## mullokintyre (15 August 2022)

Dona Ferentes said:


> Nearmap has received a non-binding indicative proposal from software investment firm Thoma Bravo, to acquire all the shares at *$2.10 cash each.*
> 
> Nearmap said its board determined the proposal, which was received on July 6, was “credible and sufficient” to grant non-exclusive due diligence access. Nearmap has granted exclusivity to Thoma Bravo for 7 days starting August 15.



DF, we must gave been typing our posts at the same time.
Mick


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## Dona Ferentes (15 August 2022)

mullokintyre said:


> DF, we must gave been typing our posts at the same time.
> Mick



LoL ... We're pretty slow; the Ann came out at 8.26am. I added the chart after first posting (so I could beat you) 

It would be a pretty brave speculator to buy on the way down .... but seeing Thomas Bravo approached NEA at its nadir, I'd suspect someone thought it was a good idea.


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## galumay (15 August 2022)

That is the luckiest escape in the world for holders of the box brownie & cessna business. Take the money and run!


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## sptrawler (15 August 2022)

galumay said:


> That is the luckiest escape in the world for holders of the box brownie & cessna business. Take the money and run!



Yes I've never been convinced by them, but the other week I had to get quotes to replace the gutters on a dozen units, all three contractors came and looked at the job counted the downpipes and measured nothing.
They are all using nearmaps to quote, which I found interesting as one said yes they get you in then crank the subscription fees, so maybe it is actually getting some traction in the market?


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## sptrawler (8 December 2022)

Sounds like Nearmap has been mopped up at $2.10 a share, just when they were starting to get market traction.



			https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02608774-2A1418509?access_token=83ff96335c2d45a094df02a206a39ff4


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