REG - 1Spatial Plc - Trading Update and Notice of Results

1SpatialAnnouncement

06/03/2023 07:00

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RNS Number : 9257R  1Spatial Plc  06 March 2023

6 March 2023

 

1Spatial plc

("1Spatial", the "Group" or the "Company")

 

Trading Update

and Notice of Results

 

1Spatial, a global leader in Location Master Data Management ("LMDM") software
and solutions, is pleased to provide an update on trading for the financial
year ended 31 January 2023 ("FY2023").

 

Based on the unaudited financial results, the Group expects to report
significant progress against key financial metrics, providing a strong
platform for further growth in future years.

 

Total revenue for the year is expected to be no less than £29.8m (FY2022:
£27.0m) with approximately 50% (FY2022: 45%) represented by recurring
revenue. Within recurring revenues, term licence revenue has increased by
approximately 80% to £5.2m (FY22: £2.9m). The US was the most significant
contributor to annualised recurring revenue growth delivering 45% growth
year-on-year at constant currency.

 

Despite the impact of inflationary cost increases, adjusted EBITDA is expected
to be no less than £4.9m (FY2022: £4.2m) and profit before tax not less than
£0.9m (FY2022: £0.2m).

 

The Group generated cash from operations of £5.3m in FY2023 (FY2022: £2.5m)
and continued to invest in the expansion of the sales, delivery, and cloud
technology teams. The Group's net cash will be no less than £3.0m at 31
January 2023, an increase from £2.3m at 31 July 2022 (31 January 2022:
£3.2m) after the final payment in H2 2023 of £0.3m in deferred consideration
for the acquisition of Geomap Imagis.

 

Outlook

 

The Group is continuing to invest in its SaaS based solutions and trials for
these including Traffic Management Plan Automation (TMPA) in the UK and NG911
in the US are progressing well.

 

With a healthy sales pipeline, strong order book and increased recurring
revenues, the Board is confident that the progress made over the past year is
set to continue.

 

Notice of Results

 

The Company expects to announce audited final results for the year ended 31
January 2023 on 26 April 2023.

 

Commenting on the update, 1Spatial CEO, Claire Milverton, said:

 

"Our strong performance in the year, fuelled by a number of contract wins,
demonstrates that 1Spatial and location data sits right at the heart of the
digital transformation taking place across multiple sectors.

 

"We had a good end to our financial year and this momentum has continued into
FY2024. Whilst cognisant of inflationary pressures, we believe the investments
we are making in our people and technology will enable us to capitalise on the
significant market opportunity and, we look to the future with confidence."

 

 

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 / Kate Bannatyne / Miquela Bezuidenhoudt

 Alma PR                                                                020 3405 0205
 Caroline Forde / Hannah Campbell                                       1spatial@almapr.co.uk

 

1Spatial plc's LEI Number is: 213800VG7OZYQES6PN67

 

About 1Spatial plc

1Spatial plc is a global leader in providing Location Master Data Management
(LMDM) software and solutions, primarily to the Government, Utilities and
Transport sectors. Our global clients include national mapping and land
management agencies, utility companies, transportation organisations,
government and defence departments.

 

Today - as location data from smartphones, the Internet of Things and great
lakes of commercial Big Data increasingly drive commercial decision-making -
our technology drives efficiency and provides organisations with confidence in
the data they use.

 

We unlock the value of location data by bringing together our people,
innovative solutions, industry knowledge and our extensive customer base.  We
are striving to make the world more sustainable, safer and smarter for the
future. We believe the answers to achieving these goals are held in data. Our
1Spatial Location Master Data Management (LMDM) platform incorporating our
1Integrate rules engine delivers powerful data solutions and focused business
applications on-premise, on-mobile and in the cloud. This ensures data is
current, complete, and consistent through the use of automated processes and
always based on the highest quality information available.

 

1Spatial plc is AIM-listed, headquartered in Cambridge, UK, with operations in
the UK, Ireland, USA, France, Belgium, Tunisia and Australia.

 

For more information visit www.1spatial.com

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