REG - 1Spatial Plc - US contract wins

1SpatialAnnouncement

02/07/2024 07:15

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RNS Number : 7005U  1Spatial Plc  02 July 2024

2 July 2024

 

1Spatial plc

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

 

US contract wins underpin enterprise opportunity in the US

 

1Spatial, (AIM: SPA), a global leader in Location Master Data Management
(LMDM) software and solutions, has secured several new contracts in the US,
that demonstrate material progress on the Group's US expansion plans. The US
is a key part of the Group's overall growth strategy based on the strength of
the Company's offerings, existing customer relationships and the significant
market size. The Group is bringing its unique technology and solutions to an
expanding market. 1Spatial now has contracts or framework agreements with 21
US States, up from 18 US States at the year end. The US business has
considerable expansion potential with an ambition to generate on average $1m
Annual Recurring Revenue ("ARR") from each State per annum.

 

The recent contract wins and renewals include:

 

 ·         Two customer wins for 1Spatial's automated traffic conflation solution, which
           is powered by 1Spatial's patented 1Integrate rules engine, with the
           Departments of Transport (DOT) for the State of Virginia and State of Georgia.
           These contracts will deliver, in aggregate, at least $0.5m in ARR.

 ·         1Spatial has been awarded a position on a five-year framework agreement with
           the State of Tennessee in partnership with Rizing, a Wipro company. This is
           our first engagement in the State of Tennessee and the agreement will deliver
           data management for Highway Information Systems. 1Spatial, alongside Rizing,
           was ranked first for its highway systems and data management solutions.

 ·         NG-9-1-1 two-year contract renewal with an existing customer, the State of
           Minnesota, delivering $0.25m ARR. This is an expanded contract which
           represents an increase of approximately $0.1m in the annual contract value.

 

These repeatable solution sales contribute to the Group's increasing levels of
recurring revenue and provide good revenue visibility from the Group's US
operation.

 

Commenting on the wins, 1Spatial CEO, Claire Milverton, said: "We continue to
see considerable opportunity in the US, supporting the digital transformation
of transport and emergency services departments, for which accurate, reliable,
and up to date location data is vital.

 

These wins and the renewal demonstrate the quality of our product and underpin
our ambition to generate on average $1m in ARR from each State per annum.
Alongside our newly launched SaaS offerings, the Company has a number of
growth vectors available to deliver on its ambitions."

 

For further information, please contact:

 

 

 1Spatial plc                                 01223 420 414
 Claire Milverton / Stuart Ritchie

 Panmure Liberum (Nomad and Broker)           020 3100 2000
 Max Jones / Edward Mansfield / Anake Singh

 Alma Strategic Communications                020 3405 0205
 Caroline Forde / Hannah Campbell             1spatial@almastrategic.com

 

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 (http://www.1spatial.com)

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