Nearmap’s North American growth has turbocharged revenue, although losses have widened as the aerial imagery company doubles down on research and development and continues its legal battle with US rival Eagleview.
The Sydney-based company reported a net loss for the six months to December 31 of $11.9 million, compared with a $9.4 million loss a year earlier. A sharp pick-up in North American growth pushed revenue 23 per cent higher to $67.6 million.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
