Nearmap seems to be failing to deliver from my perspective. There's huge amount of promise and discussion around the potential for AI to enhance services and product offering yet it doesn't appear to be eventuating. 

Digital Agricultural Services (digitalagricultureservices.com) is doing the ground breaking technological work I'd expect NEA to be pushing into... but they aren't. I honestly believe that as time marches on NEA will have more competitors and aerial mapping will have reduced barriers to entry. The winners will be the companies that can provide the insights from the photographs and information, not the photographers themselves. 

The bearish view on the business itself is supported by repeated earnings downgrades and negative results. 

Negativity aside the business has reduced churn, is proving there is growth in the market, and could breakeven soon. Long term negative view, short-mid term is a positive or neutral view. A stock with the chance to temporarily run hot with the right earnings result.