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AEROMETREX LIMITED (AMX) - Mapping Australia’s Future

• Andrew Musgrave

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The map is changing faster than most businesses can. We sit down with Aerometrex CEO Robert Veitch to unpack how a leaner operating model, smarter products, and disciplined sales are turning a complex geospatial portfolio into a growth engine with real operating leverage.

Robert breaks down the three pillars: MetroMap, a high‑resolution aerial imagery subscription updated up to six times a year in major cities; LIDAR, delivering precision terrain and asset intelligence for sectors like environment, energy, mining, and infrastructure; and hyper‑realistic 3D meshes that power digital twins and scenario planning. We explore why MetroMap’s ACV now has outsized margin impact, how oblique imagery, elevation profiles, contours, and hillshade reduce site visits and accelerate approvals, and what a cleaner interface means for enterprise adoption. On the LIDAR side, we go inside recent wins with the Queensland Government and Shell QGC, the 52% revenue lift, and the importance of asset utilisation without extra capex. For 3D, we dig into international momentum, practical use cases that justify spend, and the path to scale as digital twins move mainstream.

The strategy pivots on “One Aerometrex”: a unified organisation where product, production, PMO, and sales work as one, breaking silos so customers get solutions rather than isolated services. That shift, paired with more than $2 million in cost reductions and two quarters of zero cash burn, sets the stage for profitable growth. Robert also shares highlights from the Q1 trading update, the renewed Landchecker partnership with a multi‑year commitment, and a measured stance on M&A, partnerships, and licensing to maximise shareholder value.

If you care about spatial data that actually changes outcomes, this conversation delivers clarity and numbers you can trust. Subscribe, share with a colleague who lives in maps, and leave a quick review to tell us which feature you want to see next.

Andrew Musgrave:

Welcome again to ASX Briefs, the podcast that brings Australia's most innovative listed companies into focus. And today we're joined by Robert Veitch, the CEO of Aerometrex Limited, a geospatial technology leader delivering high-resolution aerial imagery, LIDAR and 3D visualisation services across Australia and offshore. Robert, it's great to have you with me today and welcome to the ASX Briefs podcast.

Robert Veitch:

Thanks, Andrew.

Andrew Musgrave:

Now Robert, for listeners that may be unfamiliar with Aerometrex, can you provide a brief overview of the company?

Robert Veitch:

Sure. So we offer location intelligence that gives insights to customers and that help them make better business decisions. Our MetroMap image subscription product allows users to get frequently updated and accurately imagery throughout Australia. We update the major cities up to six times a year, out of metro areas up to twice a year, and regional areas once a year. It's high-resolution accurate imagery that customers use for planning, avoiding site visits, change detection, and many other purposes. Our LIDAR offering allows customers to analyse terrain, vegetation, buildings, pile height, pit depth, and tree canopy heights for many different industries, including environmental management, mining and resources, energy and infrastructure, and growing a growing market in renewables and carbon farming. And our world-leading 3D product offers hyper-realistic 3D meshes delivered as either standalone projects or off-the-shelf products. We're the largest Australian owned company operating in all three areas.

Andrew Musgrave:

Okay, Robert. And earlier this year you completed a major strategic review. So what prompted the reset and what changes have been made and made the biggest impact so far?

Robert Veitch:

Yeah, so two things. I think when I came in as CEO in February, I thought it prudent to review all aspects of the business and how we operate, the cost structure, our sales and marketing, our aviation functions, how we interact with customers and partners, basically everything. But I think the main reason was that the board and I believe that Aerometrex as a company is significantly undervalued based on the strength of our three business units. Metro Map has more than $11 million in annual contract value and a fixed cost base that's around that number as well. So it's a business with tremendous upside. Now that we're at around about that break-even point, it's become a very strong business and additional annual contract value, or ACV will go about 80% to the bottom line. Our LIDAR business is a high margin, consistent business, and our 3D business represents a blue sky opportunity. In terms of the biggest impact of the review, I think reducing our cost base was crucial and I think has showed immediate benefits. Looking forward, I'm also very optimistic about investments we made in our product and also our revamp sales function.

Andrew Musgrave:

Okay, and you've cut over $2 million in costs, improved asset utilization, and consolidated your operating model. So, how have those changes positioned the company for profitability in FY26?

Robert Veitch:

Sure. So the cost reductions were difficult, but I felt necessary with a largely fixed cost base in aviation production software, those sort of things, improved utilization will help us do more with less. So I think there's a there's efficiency there. And our organizational structure's been simplified to break down the silos, and we now operate as one highly integrated company. We we did this for two reasons. One one is we want it to be more customer focused, so we think our customers come to us to solve real problems and not for specific product or service. By integrating our teams, we can come up with the best solution from our suite of offerings, and we're unique in Australia in offering all of these different solutions. I think the second reason for doing this was to take advantage of the talent that we had in individual business units and apply that across the whole company. So we now have one product function, one production team, one PMO team, and our sales team can sell all products. We call this integrated structure One Aerometrex. We're all in it together and we're all trying to drive Aerometrex to the success that its shareholders and employees deserve.

Andrew Musgrave:

Okay, in your recent released Q1 trading update to the market, what were the highlights and key messages from this update?

Robert Veitch:

Yeah, so growth in MetroMap annual contract value accelerated further. So we added another million dollars in quarter one, so represents it annualized about 42% for the quarter. This continues on the growth that we had in the second half of FY25. And ACV now in calendar year 25's grown about 32%, which is very positive. Our LIDAR revenue was up 52% for the same period last year, and we have a an unsecured pipeline around $19 million. Importantly, we maintained our cash position from June 2025, and so we've now had two quarters where we haven't burnt any cash and I think also finally we've got some positive momentum in international markets with our 3D business. So, in every way, this was an excellent result for us.

Andrew Musgrave:

Okay, and you've had several large wins this year. So, can you just um outline them in a bit more detail?

Robert Veitch:

Sure. So we renewed our partnership with Landchecker, which is a minimum commitment of three million dollars over the next two years, and an option for two more. Our partner model's been a great way for us to enter new markets, and as our partners grow, we grow with them. So we're very positive about that. We also won major LIDAR contracts in 2025 with the Queensland government for $875,000 and with Shell QGC for over a million dollars.

Andrew Musgrave:

Okay, and recently there was a major update of your MetroMap platform. So can you tell us about that?

Robert Veitch:

Sure. So we continue to invest in our MetroMap product, adding extra capabilities and features that we think will make it more compelling in the market. We've added oblique imagery that allow users to see imagery from every angle, and a profile or elevation tool where we can measure the heights of terrain as well as natural and built objects. We added dynamic contour lines, hillshade, and a totally updated user interface. We spend a lot of time listening to our customers and develop the products that they want and need.

Andrew Musgrave:

Okay, and you've mentioned strategic approaches under consideration locally and abroad. So can you share what types of opportunities you're evaluating? M&A, partnerships or technology licensing?

Robert Veitch:

Sure. So we we continue to evaluate value accretive opportunities that will continue, quick contribute towards maximising shareholder value. I can't really say a lot more than that at this stage, but we will certainly update the market if there is something to report. I will say that there are industry players out there who clearly understand our business and the real value. I think as as was evidenced by the Nearmap acquisition by US private equity in 2022.

Andrew Musgrave:

Okay, now just to wrap things up with 2.2 million in new ACV added in 2025 and strong recurring revenue streams, what are your key priorities for the remainder of financial year 26?

Robert Veitch:

Yeah, we're we're definitely very focused on the recurring revenue or the MetroMap ACV. We believe that with very strong growth so far this year, with significant product enhancements just launched and a completely re-revamped sales team and strategy that we're in a position to take Metromap to another level. And since we're also now covering the cost of publishing MetroMap as a business, we'll start to add real value to our company overall. We intend to grow our LIDAR business through improved efficiency and competitiveness and improved utilization of our assets. We have a large upside in this business with existing assets and without requiring any further capex. And we're continuing to develop our 3D offering, working with customers on new use cases and also potentially in new geographies. We think as the world is moving towards 3D and digital twins are becoming mainstream, that we're very well placed to capitalise on this.

Andrew Musgrave:

Okay, Robert. Well, it's been great to chat today, so thanks for your time on giving us an update on where the company is at, and we look forward to further updates from Aerometre x in the upcoming months.

Robert Veitch:

Thanks, Andrew. I appreciate it.

Andrew Musgrave:

That concludes this episode of ASX Briefs. Don't forget to subscribe, and we look forward to catching you on our next episode.