“To give our competitor due credit, Nearmap has done a good job creating that market,” Deuter says.
Aerometrex clients include the federal and state governments, Santos, and OZ Minerals. In keeping with the philosophy that it’s better to co-operate with the tech giants rather than compete with them, the company has provided 3D image capture for Google and Microsoft.
As with Nearmap, Aerometrex is bound for the US but sees greatest potential there with its 3D products. “We think the US market is too crowded for our regular Lidar and aerial photo products,” he says. “We won’t be just throwing money at it.”
Unlike Nearmap, Aerometrex operates its own fleet of eight twin-engine aircraft.
This week Aerometrex said it had signed up Landchecker to use its aerial images. Backed by the Royal Automobile Club of Victoria and Kogan founder Ruslan Kogan, Landchecker provides property data such as title history and planning permit information.
On prospectus numbers Aerometrex generated a net profit of $2.57 million in the 2018-19 year, with revenue climbing 22 percent to $16.1 million.
The interim results in late February will give a better feel as to how the company is performing as a listed company, but so far it doesn’t look to be sharing Nearmap’s growing pains
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