REG - 1Spatial Plc - Trading update

1SpatialAnnouncement

03/03/2022 07:00

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RNS Number : 4593D  1Spatial Plc  03 March 2022

3 March 2022

 

1Spatial plc

 

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

 

Trading Update

 

1Spatial, a global leader in Location Master Data Management (LMDM) software
and solutions, today provides an update on trading for the financial year
ended 31 January 2022.

 

Based on the unaudited financial results, the Group expects to report further
progress in key financial metrics, due to a robust performance in the second
half of the year, which has seen the Group secure some of its largest
contracts to date, providing a strong platform for growth in future years.

 

Revenue for the year is expected to be in excess of £26.4m (FY 2021:
£24.6m), with double digit growth in recurring revenue year on year. The
order book of committed revenue and longer-term contracts also increased year
on year.

 

Adjusted EBITDA is expected to be no less than £3.8m (FY 2021: £3.6m) in
line with expectations and the Group's planned spending in the year.

 

The Group's net cash increased in H2 to approximately £3.2m as at 31 January
2022, from £2.8m at 31 July 2021 (31 January 2021: £4.3m). The net cash was
lower than expectations primarily due to the working capital requirements on
larger contracts signed in H2, and the decision to invest free cash in
expanding the sales and delivery team and cloud technology, as part of the
three-year growth plan.

 

Outlook

 

With a healthy sales pipeline and increased levels of recurring revenue, the
Board is confident that the Group's progress over the last year is set to
continue in the coming year. The Company will provide a further update on
trading at the time of the final results, expected to be released on 27 April
2022.

 

Commenting on the update, 1Spatial CEO, Claire Milverton, said: "We are
delighted to report on a year of growth, fuelled by significant wins. We have
exited the year with increased levels of recurring revenues, an expanded
customer base and strengthening partner network - all of which provide us with
a valuable base on which to expand in the year ahead.

 

"With the validation and sharing of location data sitting at the heart of many
areas of digital transformation, we are seeing a growing number of
opportunities entering our sales pipeline across all our regions and markets
and look to the future with confidence."

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019.

 

For further information, please contact:

 

 1Spatial plc                                                       01223 420 414
 Claire Milverton / Andrew Fabian

 Liberum (Nomad and Broker)                                         020 3100 2000
 Neil Patel / Cameron Duncan / Ed Phillips / Miquela Bezuidenhoudt

 Alma PR                                                            020 3405 0205
 Caroline Forde / Justine James / 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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