1Spatial Plc - Trading Update
("1Spatial", the "Group" or the "Company")
Solid strategic and financial progress
1Spatial, (AIM: SPA), a global leader in Location and Geospatial Software Solutions and Location Master Data Management (LMDM), today provides an update on trading for the financial year ended
The Board is pleased to report on another year of solid strategic progress and strengthening financials, delivering double-digit revenue and adjusted EBITDA* growth.
The Company expects to report revenue and adjusted EBITDA for the year ended
The Company was Free Cash Flow positive in H2, with a gross cash balance at
Following the acquisition of GI in
A key focus in the year was the successful integration of the acquisition of GI in
The US division was a strong growth driver for the Group, securing contracts with five US State Departments for Transport, and has a growing pipeline of additional customer opportunities for the year ahead, demonstrating the potential for this market.
Importantly, the Group increased R&D investment in the year, and in
Coronavirus (COVID-19) continues to have an unprecedented impact globally and we have updated our business continuity plans accordingly. We have always made use of remote working and have now extended this to all our staff. So far we are continuing business as usual, signing and delivering on contracts. We have seen little disruption in the day to day business in our key territories which include the
Given our high level of recurring revenue, our strong backlog of contracted future revenue, and our software supporting mission critical operations at many of our customers, we believe our business to be well positioned to withstand this period.
We continue to monitor the situation closely as it develops and will update investors further at the time of our Final Results, to be released in
"Our focus on transitioning the business model away from the perpetual software licence model towards higher margin, recurring software revenues is resulting in an increased quality of earnings. While cognisant of the rapidly evolving situation with COVID-19, our high levels of recurring revenues, strong balance sheet and wide spread of customers provide the business with a level of resilience and we are confident in our ability to work through these challenging times."
* Adjusted for strategic, integration, other irregular items and share-based payment charge
For further information, please contact:
01223 420 414
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020 7496 3000
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020 3405 0205
1Spatial provides software and services for the management of geospatial data, for industries where the accuracy of location and geospatial data is key. The Group's patented core rules-engine, 1Integrate, ensures that the underlying data is current, complete and consistent using automated processes. This ensures that decisions are always based on the highest quality information available.
Today - as location data from smartphones, the Internet of Things and great lakes of commercial Big Data increasingly drive commercial decision-making - 1Spatial's technology is used by a wide range of commercial and government organisations, including utilities businesses, national mapping and land management agencies, transportation organisations, government departments, emergency services, defence, census bureaus and facilities management companies.
1Spatial plc is AIM-listed, headquartered in
To find out more, visit www.1spatial.com
This information is provided by RNS, the news service of the
Quick facts: 1Spatial
Market Cap: £23.27 m
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