Last checked at 7 Jul 2023 07:00
7 July 2023
1Spatial plc
("1Spatial", the "Group" or the "Company")
AGM Statement and Trading Update
1Spatial, (AIM: SPA), a global leader in Location Master Data Management (LMDM) software and solutions, will hold its Annual General Meeting at 11am today at the offices of Liberum Capital Limited, Ropemaker Place, Level 12, 25 Ropemaker Street, London EC2Y 9LY.
At the meeting, Andrew Roberts, Non-Executive Chairman, will make the following statement:
"I am pleased to report on continued positive progress at 1Spatial, including the first four wins for our new SaaS solutions, for which we see tremendous opportunity.
The investments made last year, and at the start of the current year, into our sales team and offering, are resulting in a significant and growing sales pipeline. While sales cycles continue to be somewhat protracted, we have secured several new customers in the period and have been encouraged by the positive market feedback at multiple industry events for our new offerings. We are conscious of the challenges of the wider macro environment and continue to actively manage the cost base within the Group, particularly within our European business, to ensure we are efficient in our operations.
New customer wins in recent months include, in Belgium, an initial four-year contract with Société Walloon Des Eaux using our 1Water application. The contract includes a four-year extension resulting in a total contract value of €3m. In the US, the Group secured its first contract with the State of Oregon using our 1Integrate and 1DataGateway products - the initial contract value is $0.4m with a number of future expansion opportunities. The Group now has 18 US States as customers, each with significant expansion potential.
The Board believes strongly that our SaaS applications are a transformational growth opportunity and these are a major focus for the Group. We have secured sales of our first two SaaS solutions, with a contract win for our NG911 solution in our first US county and, in the UK, three sales of our SaaS product 1Streetworks.
The Group has a strong order book, a growing recurring revenue stream and substantial sales pipeline. We believe the investments we continue to make in people and technology have positioned the business well to take advantage of the huge opportunity ahead and the Board remains confident in delivering results for FY24 in line with current market expectations."
For further information, please contact:
1Spatial plc | 01223 420 414 |
Claire Milverton / Stuart Ritchie
| |
Liberum (Nomad and Broker) | 020 3100 2000 |
Max Jones / Edward Mansfield / Miquela Bezuidenhoudt
| |
Alma PR | 020 3405 0205 |
Caroline Forde / Hannah Campbell | 1spatial@almapr.co.uk |
About 1Spatial plc
1Spatial plc is a global leader in providing Location Master Data Management (LMDM) software, solutions and business applications, primarily to the Government, Utilities and Transport sectors via the 1Spatial platform. Our solutions ensure data governance, facilitating the efficient, effective and sustainable operation of customers around the world. Our global clients include national mapping and land management agencies, utility companies, transportation organisations, government and defence departments.
Today, when using and sharing trusted data provides significant opportunities for businesses and governments to deliver against important sustainability and Net Zero goals, our vision is clear - to make the world safer, smarter and more sustainable by unlocking the value in data, enabling better decisions and greater insights.
The 1Spatial platform is a comprehensive set of data and system agnostic LMDM software components which helps ensure master data is compliant, current, complete, consistent, and coordinated - and that customers can be confident it will remain that way as it evolves. It allows them to master their data on any device, anywhere, anytime and can be deployed as SaaS in the cloud, on-premise, or as a hybrid of both.
Our domain expertise and data agnostic approach allows us to be an integral and important part of the Geospatial Ecosystem, supporting the wider digital economy. We partner with major technology consultancies and GIS providers such as ESRI and bring together our people, innovative solutions, industry knowledge and experience from our extensive customer base to deliver world class solutions.
1Spatial plc is AIM-listed, headquartered in Cambridge, UK, with operations in the UK, Ireland, USA, France, Belgium, Tunisia, and Australia.
www.1spatial.com