The Pointerra Ltd (ASX: 3DP) share price was on a tear through February as its share price rose an astounding 65.31%. Shares in the company pushed higher again today as the company released its half-yearly report.
The Pointerra share price was trading at 83 cents, up 2.47%, at the market's close today.
The company is engaged in the development and commercialisation of its 3D geospatial data technology. The company's technology offers real-time, dynamic web viewing tools for providing access to user's data through the cloud.
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How did Pointerra perform in the half?
For the period ending 31 December 2020, Pointerra reported impressive revenue growth, recording revenue of $1.56 million, up 218% on the prior half. Customer receipts also increased strongly, climbing by ~$650,000 to $1.14 million.
The company's annual contract value (ACV) metric more than doubled. During the half-year, ACV grew to US$6.88 million, reflecting the impact of new customer acquisitions coupled with growth spend by existing customers.
Evolving platform
Pointerra's flagship cloud platform received notable enhancements in the half. The company delivered upgrades across the product portfolio of data processing, data and analytics as a service.
The 3D mapping company also announced the soft launch of its 3D data marketplace solution, 3Dinsight.ai. The platform is an artificial intelligence (AI) powered cloud marketplace conceived to help data acquisition companies monetise their 3D data sets. The solution will also facilitate market-driven demand for capture programs, useful for both infrastructure companies and governments.
Moreover, the company made a number of investments in people across the half. Pointerra hired in the development and sales teams to provide additional scale in meeting the demand for solution development. As such, the headcount increased from 12 to 20 full-time employees. Additional appointments will continue in the future as the business scales up its platform capability and customer acquisition.
About the Pointerra share price
Shares in the company exploded in July after notable tech investor Bevan Slattery took a stake in the company. The placement of $2.5 million has helped drive the Pointerra share price more than 1,560% higher.
