Aerometrex delivered a landmark FY26 with operating revenue up 12.3% to $26.84 million and EBITDA more than doubling to $7.68 million, driven by a 27.2% jump in MetroMap subscription revenue and a 37.8% rise in Annual Contract Value.
- MetroMap subscription revenue hits $12.17 million
- Annual Contract Value grows 37.8% to $14.55 million
- EBITDA surges 122.3% to $7.68 million
- Positive free cash flow of $4.22 million
- New contracts with government and AI firms
MetroMap Subscription Growth Surpasses Cost Milestone
Aerometrex Limited (ASX:AMX) has marked FY26 as a pivotal year, with its MetroMap subscription business crossing a critical threshold. The company reported MetroMap subscription revenue of $12.17 million, up 27.2% year-on-year, while Annual Contract Value (ACV) soared 37.8% to $14.55 million. Notably, Aerometrex's MetroMap ACV now exceeds the annual cost of running its capture program, signaling the platform’s transition into a positive cash contributor.
MetroMap’s recent upgrade introduced oblique imagery, elevation measurement tools, contour lines, and a revamped user interface, reflecting customer-driven innovation. The platform also expanded its population coverage to 94%, underpinned by government contracts including the Whole of Victorian Government deal and engagements with NSW and WA agencies. Average Revenue Per Subscriber climbed 24.9%, monthly active users rose 17%, and session times increased 12%, underscoring deeper customer engagement.
Financial Performance Accelerates on Cost Discipline and Recurring Revenue
Operating revenue climbed 12.3% to $26.84 million, while EBITDA more than doubled to $7.68 million, a 122.3% increase from FY25. This leap was driven by both top-line growth and a $1.51 million reduction in operating costs, reflecting the full-year impact of strategic cost efficiencies implemented over prior periods. The company also swung to positive free cash flow of $4.22 million, a $5.22 million improvement, with free cash flow after lease payments reaching $0.87 million.
Despite the statutory net loss narrowing to $2.90 million, the financials reveal a business leveraging its SaaS/DaaS subscription model and operational discipline to improve earnings quality and cash generation. Aerometrex’s cash reserves stood at $3.56 million as at June 30, 2026.
Growth Across LiDAR and 3D Segments with New AI Licensing Deals
LiDAR revenue increased 8.2% to $11.81 million amid heightened competition and margin pressure, supported by a higher win rate but smaller contract sizes. The company’s dual-use of its LiDAR fleet for MetroMap capture has created opportunistic off-the-shelf LiDAR datasets, opening new revenue avenues.
3D modelling revenue surged 23.5% to $1.89 million, buoyed by projects in Australia and the US, including a major infrastructure program for Pennsylvania’s Department of Transportation. Off-the-shelf 3D data sales to AI innovators Zeromatter and Neara generated over $1 million in the final quarter, highlighting the commercial potential of Aerometrex’s extensive geospatial data library in emerging AI and machine learning markets.
Leadership and Strategic Positioning for FY27
Leadership continuity was secured with Robert Veitch’s appointment as Managing Director and CEO in August 2025, following his tenure as Acting CEO. David Di Blasio joined as CFO in June 2026, bringing extensive listed company financial experience. The company has streamlined its organisational structure, enhancing cross-team collaboration, particularly in sales, where more staff now cross-sell LiDAR and 3D products.
Looking forward, Aerometrex aims to capitalise on structural trends such as the rising demand for accurate spatial data to fuel AI, digital twins, and sovereign data capabilities. The company’s strategy focuses on expanding recurring MetroMap revenue, maintaining financial discipline, and unlocking value from its proprietary data assets. FY27 is expected to build on FY26’s momentum, with Aerometrex poised to leverage its Australian ownership and government contracts as competitive advantages.
While the company’s free cash flow generation and EBITDA improvements mark a clear inflection point, the competitive landscape and early-stage nature of some AI licensing revenues suggest ongoing vigilance is needed. Nevertheless, Aerometrex’s blend of technology, data, and government footholds positions it uniquely in the growing geospatial technology sector.
Bottom Line?
Aerometrex’s FY26 results reveal a company transitioning from investment to growth and cash generation, with MetroMap subscription revenue now covering its operating costs, a key milestone that sets the stage for scalable profitability.
Questions in the middle?
- Can Aerometrex sustain MetroMap’s rapid subscription growth amid intensifying competition?
- How will emerging AI and machine learning applications impact the monetisation of Aerometrex’s geospatial data?
- What strategic moves might Aerometrex pursue to accelerate profitability and expand its government contracts portfolio in FY27?