Pointerra Ltd (ASX:3DP) provides an end-to-end, cloud-based Data-as-a-Service (DaaS) solution for capturing, storing, manipulating and analysing massive 3D datasets in the geospatial sector. It has taken what has been a highly manual, slow and cost-prohibitive process and turned it into a fast, efficient workflow solution for 3D data, enabling digital asset management from any device in any location. Its customer base spans pole and power companies, resources companies, construction companies, government agencies, data capture companies, and surveying and mapping companies. Pointerra has reported Q2 FY22 operating cashflows of $2.85m, an increase of almost 350% on Q2 FY21, and has delivered record operating cashflows of $0.8m compared with an operating cashflow loss of $0.23m in Q2 FY21. Free cashflow for the period was $0.75m, well ahead of our forecast for $0.56m. Pointerra ended the quarter with almost $5.0m in net cash. Cash receipts were a little lower than our forecast for $3.15m, however, operating cashflows were ahead and demonstrate that Pointerra continues on the growth trajectory on which we have mapped our forecasts. We have left our forecasts unchanged ahead of the company’s market update on Annual Contract Value (ACV) on 31 January and its interim result in late February. Our base-case DCF valuation of $0.90/share is predicated on Pointerra getting to ACV of US$50m by December 2024.
20 Jan 2022
Q2 cash receipts accelerate, record cashflows
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Q2 cash receipts accelerate, record cashflows
Pointerra Ltd (ASX:3DP) provides an end-to-end, cloud-based Data-as-a-Service (DaaS) solution for capturing, storing, manipulating and analysing massive 3D datasets in the geospatial sector. It has taken what has been a highly manual, slow and cost-prohibitive process and turned it into a fast, efficient workflow solution for 3D data, enabling digital asset management from any device in any location. Its customer base spans pole and power companies, resources companies, construction companies, government agencies, data capture companies, and surveying and mapping companies. Pointerra has reported Q2 FY22 operating cashflows of $2.85m, an increase of almost 350% on Q2 FY21, and has delivered record operating cashflows of $0.8m compared with an operating cashflow loss of $0.23m in Q2 FY21. Free cashflow for the period was $0.75m, well ahead of our forecast for $0.56m. Pointerra ended the quarter with almost $5.0m in net cash. Cash receipts were a little lower than our forecast for $3.15m, however, operating cashflows were ahead and demonstrate that Pointerra continues on the growth trajectory on which we have mapped our forecasts. We have left our forecasts unchanged ahead of the company’s market update on Annual Contract Value (ACV) on 31 January and its interim result in late February. Our base-case DCF valuation of $0.90/share is predicated on Pointerra getting to ACV of US$50m by December 2024.