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RNS Number : 2664F
1Spatial Plc
07 July 2023
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 EUR3m. 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
M ax 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
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END
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July 07, 2023 02:00 ET (06:00 GMT)
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