Pointerra Ltd (ASX:3DP) provides a powerful cloud-based solution (Pointerra3D) for managing, visualising, analysing, using and sharing massive 3D point clouds and geo-spatial datasets. Pointerra3D is a proprietary digital twin Software-as-a-Service (SaaS) platform which delivers predictive digital insights and definitive answers to complex physical asset management questions. Pointerra has reported Q1 FY26 cash receipts of $1.98m, down 36% on the previous corresponding period (pcp) but up 25% on Q4 FY25. Q1 cash outflow was contained to $0.342m helped by good cost containment, which declined 12% year-on-year, and the receipt of a $1.16m R&D grant. Pointerra ended the quarter with $1.51m cash. The company says some of the expected Q1 FY26 milestone invoicing would now be rolled into Q2 with invoicing and cash collections from some of its large US customer programmes delayed until the current quarter. The company noted it had more than $2.5m in receivables and contracted work-in-hand as at 30 September. We have not changed our forecasts following this result and will look to the Q2 result outcome before making any full- year adjustments. Our base-case valuation remains unchanged at $0.25/share, representing 468% potential capital upside.
