Interesting development... up 5% todaynearmap receives new patent for its aerial
mapping system
nearmap ltd (ASX: NEA) is pleased to announce that the United States Patent
and Trademark Office has granted the company a new patent for its aerial
imaging systems.
Patent Number 8,497,905, issued on 30 July 2013 and entitled “Systems and
methods of capturing large area images in details including cascaded cameras
and/or calibration features”, is directed at utilising arrays of cameras to
efficiently capture high-resolution PhotoMapsTM
.
Commenting on the granting of the patent, nearmap Chief Executive Officer
Simon Crowther said: “We are delighted to have received this patent from the
US Patent Office. The grant of this patent reflects nearmap’s continuing focus
on research and development and the company’s unique technology. It also
extends nearmap’s international patent portfolio.”
“We are very focused on strategically and carefully monetising nearmap’s
unique PhotoMapsTM content given our technology platform. We are only a little
over six months into nearmap’s subscription service, yet have been able to
successfully grow the business with a very limited product range targeting a
narrow market and almost no marketing spend. With a growing patent portfolio
and unique business model, nearmap is well placed to continue growing,”
added Mr Crowther
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.
I could suggest a Technical reason: Bounce off Fib 61.8% support and break to new High:
View attachment 54701
But I presume you'd rather find a fundamental reason. Sorry - don't know.
nearmap continues to grow sales and
cashflows
nearmap ltd (ASX: NEA) is pleased to announce that it has continued to
grow sales and cashflows, generating its fourth consecutive period of
positive cashflows over the September 2013 quarter.
The company today released its quarterly cash receipts and operating cash
flows for the three months ended 30 September 2013 (1Q14).
Cash receipts from customers were up 77% to $4.6 million (1Q13: $2.6
million). In addition, the company generated $2.1 million of net operating
cash inflows (1Q13: net outflow of $0.2 million).
Underlying this growth has been continued momentum in new customer
subscriptions. In addition, nearmap has continued to experience high
renewal rates from existing paying customers, many opting to renew for
multiple years.
Commenting on the company’s cash flow performance over the September
2013 quarter, nearmap Chief Executive Officer Simon Crowther said, “This
is a pleasing result as we are still testing and refining our core mapping
subscription products. We are adding new subscribers daily and importantly
for a subscription model, existing customers are renewing, many for multiple
years.
“We have an exciting three to six months ahead as we continue to develop
and explore new sectors and market opportunities that will support our
evolution as a data business.
“We have now achieved our fourth straight quarter of positive cashflows.
With no debt and a growing cash balance that currently stands at $15.4
million.
“We remain focused on refining and executing the business model in
Australia, whilst evaluating market opportunities outside of Australia,” added
Mr Crowther.
-END-
nearmap signs licence agreement for Google
Maps
nearmap ltd (ASX: NEA) has announced a new commercial licence
agreement for Google Maps that aligns with nearmap’s goal to work with
best-of-breed international partners as part of the company’s continued
growth strategy.
Key benefits of the agreement include:
− Enhanced and easy-to-use map browser user interface;
− National satellite imagery so customers can use nearmap outside of the
company’s current high-resolution coverage area;
− Highly accurate street maps combined with integrated street view;
− World-class address and location search;
− Property boundaries;
− Significantly enhanced and upgraded measurement tools and
capabilities.
Commenting on today’s announcement, nearmap Managing Director Simon
Crowther said “This new relationship is part of a continuing strategy to align
nearmap with world-class partners such as Amazon Web Services and
Google.
“nearmap’s focus will be to continue to innovate and offer our customers the
most compelling and up-to-date maps and tools available to help them
increase productivity, minimise the need to visit a location and save time
and money.”
I hold this stock but with little confidence. Behaviour such as taking down their Facebook page concerns me. I wonder about the transparency.
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