Pointerra Share Price: $2.1 Million Project Update (ASX:3DP)

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The Pointerra Ltd [ASX:3DP] was awarded multiple projects totalling $2.1 million in September.

3DP share price is currently trading at 55 cents per share, up 2.80% at time of writing.

Pointerra received $1.55 million across four projects from Florida Power & Light and NextEra Energy, $0.25 million from Pacific Gas & Electric, and $0.26 million across two projects from Gridvision.

ASX 3DP - Pointerra Share Price ChartSource: Tradingview.com

Experiencing volatility this year, the 3DP stock is underperforming the ASX 200 by 5%, gaining 16% over the last 12 months.

Pointerra’s $2.1 million project haul

Pointerra was awarded a total of six projects, reaching $2.1 million in total.

Here’s a breakdown.

FPL vegetation growth predictive analytics project

Florida Power & Light (FPL) awarded Pointerra a US$0.63 million project to study and model the likely impact on powerline infrastructure of growth in vegetation adjacent to the powerline network over a 16-month period.

FPL network change detection project

Pointerra bagged another US$0.40 million project from FPL to work with FPL aerial capture contractor SMG — also a Pointerra customer — to perform change detection after significant weather events over a four-month period.

FPL — Pointerra3D and Poleforeman integration project

FPL awarded 3DP a third project, worth US$0.05 million, where Pointerra will work alongside ikeGPS Group [ASX:IKE] to demonstrate the benefits of integrating the output of IKE’s utility pole engineering software into Pointerra3D.

NextEra Energy renewable energy expansion project

FBL’s parent company — NextEra — also awarded Pointerra a further US$0.05 million to utilise aerial drone capture to help NextEra plan the rollout of renewable energy sites across their service area using Pointerra3D.

PGE — vegetation management analytics project

Pacific Gas & Electric (PGE) awarded Pointerra a US$0.18 million research and development project that will run for six months.

The primary aim is to develop Pointerra3D platform analytics to support PGE with vegetation management.

Digital twin solutions for mining sector

Throughout 2020 and 2021, Pointerra has been working with electrical engineering specialists — Gridvision — to develop power utility solutions for mutual consumers in the Australian mining sector.

In September, Pointerra was awarded two projects worth $0.27 million to support Gridvision in mine powerline data capture and analytics campaigns for the power infrastructure network of a global tier-1 miner.

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What next for Pointerra?

Pointerra’s Annual Contract Value (ACV) grew almost 241% to US$9.8 million in FY21, while customer revenue shot up 224% to $3.98 million.

And 3DP noted today since Q4 FY21 it had made significant progress across key sectors, which include ‘power utilities, road transport infrastructure, mining & extractive industries and facilities management.’

Regarding the September projects, Pointerra said:

This progress is consistent with Pointerra’s strategy of leveraging its core competitive advantage (using 3D data to answer questions and solve problems for customers) to create deep sector solutions and provide compelling rationale for existing customers to grow their spend and for new customers to sign up to Pointerra’s world-class digital asset management platform, Pointerra3D.

Despite the new contracts and ACV growth in FY21, Pointerra did end the fiscal year with an EBITDA loss of $1.27 million and a cash balance of $5.18 million.

Pointerra will want its growing ACV to extend its economic runway and mitigate its cash burn.

Now, small-caps like 3DP can capture investors’ attention as they present opportunities to ride the wave of pioneering new technology.

But the data solutions space isn’t the only one seeking to disrupt old industries.

In a recent investor briefing, our veteran market analyst Murray Dawes (who sums up the biggest market stories of the week here) profiled seven stocks his research led him to believe can break out in the coming years.

You can read up on these seven small-cap gems here.

A great read.


Kiryll Prakapenka,
For Money Morning

PS: Our publication Money Morning is a fantastic place to start on your investment journey. We talk about the big trends driving the most innovative stocks on the ASX. Learn all about it here

About Kiryll Prakapenka

Kiryll Prakapenka is a research analyst focusing on investigating the biggest trends in investments. Kiryll brings sound analytical skills to his work, courtesy of his Philosophy degree from the University of Melbourne. A student of legendary investors and their strategies, Kiryll likes to synthesise macroeconomic narratives with a keen understanding…

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