Nearmap (ASX:NEA) HY 2019: Strong Revenue Growth Continues
Strong Growth for Nearmap Ltd (ASX:NEA)
Aerial mapping company Nearmap Ltd (ASX:NEA) today reported strong revenue growth for the first half of 2019, with a massive 45% increase on the prior corresponding period. Better yet, the loss narrowed to just $2 million and free cash flow shifted in the right direction, albeit remained negative at an outflow of about $4.4 million. Importantly this highlights the fact that at this stage of growth free cash flow comes in well under profit, not that the market is concerned about either of those metrics given the company has over $80 million of cash to chew through.