Key Highlights

  • Group Revenue reached a record $26.84 million, up 12.3% on FY25, with record MetroMap subscription revenue of $12.17 million, up 27.2%.
  • MetroMap Annual Contract Value grew 37.8% to $14.55 million, achieving a compound annual growth rate of 21% since June 2022.
  • EBITDA more than doubled to a record $7.68 million, up 122.3% on FY25's $3.46 million, with free Cash Flow improving to $4.22 million from a $1.00 million outflow.
  • Net loss after tax narrowed to $2.90 million, a 55.8% improvement on FY25's $6.57 million loss.

Aerometrex Limited (ASX:AMX) reported its results for the twelve months ended 30 June 2026 (FY26), announcing record annual revenue of $26.84 million, up 12.3% on FY25's $23.90 million. Total Operating Revenue increased by $2.94 million while operating costs decreased by $1.51 million, leading to EBITDA growth of 122.3% from $3.46 million in FY25 to a record $7.68 million for FY26.

Net loss after tax narrowed to $2.90 million, a 55.8% improvement on FY25's $6.57 million loss. With net finance costs falling due to lower Debt levels, free cash flow improved from a net outflow of $1.00 million in FY25 to a net inflow of $4.22 million in FY26, with free cash flow after Lease payments of $0.87 million, a $4.16 million improvement on FY25. Cash at year end was $3.56 million, down 8.2% on FY25's $3.88 million.

MetroMap Subscription Business Drives Growth

The MetroMap program achieved 37.8% growth in Annual Contract Value to $14.55 million at 30 June 2026, achieving a compound annual growth rate of 21% since June 2022. Statutory subscription revenue increased 27.2% to a record $12.17 million, with contract liabilities for subscription revenue billed in advance increasing 40.9% to $5.86 million.

In the first half of the year, MetroMap launched its largest ever upgrade, adding oblique imagery allowing 45-degree viewing, an elevation data tool measuring heights of terrain and built objects, contour lines, hillshade, and an enhanced user interface. MetroMap secured wins with the NSW, WA and Victorian governments during the year, and Average Revenue Per Subscriber increased 24.9%, with monthly active users up 17% and user session time up 12%.

LiDAR and Global 3D Segments Contribute to Growth

LiDAR revenue increased 8.2% to $11.81 million, with the company noting market conditions continued to see reduced margins and increased competition. Aerometrex said it has increased its win rate and is winning more contracts than ever, though generally at smaller contract sizes. The company continued utilising its LiDAR fleet opportunistically on MetroMap image capture, resulting in dual-purpose missions that created off-the-shelf LiDAR datasets, a new revenue source highlighted by contract wins announced in June.

Global 3D delivered growth of 23.5% to $1.89 million, driven by projects across Australia and the US, including a 3D infrastructure program for the Pennsylvania Department of Transportation for the Walt Whitman interchange in Philadelphia. The company said an off-the-shelf sale to Zeromatter highlighted the value of its data library including 3D models across Australia, New Zealand and the United States.

New Contracts Secured During the Year

During FY26, Aerometrex expanded its Landchecker agreement with a larger minimum commitment and longer contract term, and expanded its MetroMap partner program to add a dozen new partners including OpenSolar, InCanopy and Lotsearch. The company was also awarded a significant LiDAR contract with a major global energy company, a contract by the NSW Government for delivery of aerial imagery via MetroMap, and two off-the-shelf licence agreements with AI innovators Neara and Zeromatter.

The company was also awarded the Whole of Victorian Government agreement to provide MetroMap aerial imagery services to Victorian Government agencies. CEO Robert Veitch said this was a very strong result for the company and a landmark year for MetroMap, with improvements across all aspects of the business and significant growth driven while also reducing the cost base through disciplined execution.

FY27 Outlook

Mr Veitch said Aerometrex continues to be the only ASX-listed business specialising in imagery subscription services, airborne LiDAR and high-resolution 3D models, remaining committed to building revenue across its three core product lines with a strong emphasis on growing the MetroMap subscription business.

He said FY27 sees the company start in a much stronger position and with more momentum than the previous year, with the focus remaining on ensuring the right people, processes and cost structures are in place. He said the business is now generating free cash, and management is looking for further growth opportunities that align with its strategic goals.

Conclusion

Aerometrex's FY26 results reflect a year of record revenue and a substantial improvement in profitability, with EBITDA more than doubling and free cash flow turning positive for the first time in recent periods. The MetroMap subscription business remains the primary growth engine, supported by government contract wins across three states and an expanding partner ecosystem, while LiDAR and Global 3D segments delivered more modest but positive growth in a more competitive market. With net losses narrowing significantly and the company now cash generative, its FY27 trajectory will depend on sustaining MetroMap's contract value growth while continuing to convert its LiDAR fleet and data library into diversified revenue streams.