1Spatial - Edison Group

Overview
Price performance
Financials
Research
Thematics

1Spatial’s core technology validates, rectifies and enhances customers’ geospatial data. Its software and advisory services reduce the need for costly manual checking and correcting of data. 1Spatial’s SaaS products use the core technology to solve significant workflow bottlenecks, such as the creation of traffic management plans and validating data.

Geospatial industry is expected to grow at a double-digit rate, as advances in data capture, processing and analytics provide ever more detailed insights into the world around us. Adoption in accelerating in more mainstream verticals and for the right solutions, the return on investment can be direct, measurable and strong. The UK market opportunity for 1Streetworks is estimated at £400m, with management targeting 10% market share in five years.

Latest Insights

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TMT |
Flash note

02.07.24

1Spatial — Contract wins underpin US growth opportunity

TMT |
edison tv

14.05.24

1Spatial – executive interview

TMT |
Update

03.05.24

1Spatial — Investing in the transformational SaaS opportunity

TMT |
Flash note

11.03.24

1Spatial — SaaS applications to build on Enterprise strength

Sector

TMT

Equity Analyst

Head of Technology

Key Management

Andy Roberts

Chairman
Claire Milverton

CEO
Stuart Ritchie

CFO

Balance Sheet

Forecast net cash (£m)

1.1

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(10.5)	16.2	28.3
Relative	(9.4)	12.2	15.9
52 week high/low	76.0p/45.5p

Financials

1Spatial’s announcement of contract wins in the US, spanning a number of products across several states, highlights the company’s progress and opportunity in the world’s largest market for software. It also gives an early indication that management’s investment in strengthening the US business development team could yield good results. In the US 1Spatial now has contracts or framework agreements with 21 states, up from 18 at year-end, with management setting a longer-term ambition of generating $1m in annual recurring revenues from each state.

Y/E Jan	Revenue (£m)	EBITDA (£m)	PBT (£m)	EPS (fd) (p)	P/E (x)	P/CF (x)
2023A	30.0	5.0	1.8	1.20	56.7	16.4
2024A	32.3	5.5	2.1	1.40	48.6	17.3
2025E	35.8	5.7	2.1	1.37	49.6	14.1
2026E	38.7	7.6	3.8	2.54	26.8	9.9

Update

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06.03.23

1Spatial — Encouraging trading and outlook

Flash note

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15.12.22

1Spatial — Change of CFO

Update

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28.09.22

1Spatial — Making GIS data useable for a variety of verticals

Flash note

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05.09.22

1Spatial — Two recent wins highlight US potential

Flash note

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19.07.22

1Spatial — Flying high with a major EU aerospace company

Flash note

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08.06.22

1Spatial — On board with HS2

Flash note

TMT

27.05.22

1Spatial — First contract win in the US’s fourth largest state

edison tv

TMT

19.05.22

1Spatial – executive interview

Flash note

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11.05.22

1Spatial — Going to California with Caltrans on my mind

Update

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28.04.22

1Spatial — Solid progress on several geospatial fronts

Update

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03.03.22

1Spatial — Record contract wins fuel recurring revenue

Outlook

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16.02.22

1Spatial — Validating spatial data across the globe

Update

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29.09.21

1Spatial — H122 results complement recent contract wins

Flash note

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27.09.21

1Spatial — Another big UK contract win for 1Spatial

Update

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13.09.21

1Spatial — 1Spatial wins strategic UK government contract

Flash note

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23.06.21

1Spatial — AGM statement suggests momentum continues

edison tv

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11.05.21

1Spatial – executive interview

edison tv

TMT

11.05.21

1Spatial – executive interview

Update

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28.04.21

1Spatial — Momentum continues; raising FY22 estimates

Flash note

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15.04.21

1Spatial — $0.5m contract extension with Google

Flash note

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01.04.21

1Spatial — 1Spatial wins £0.9m contract with Defra

Flash note

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18.03.21

1Spatial — Completes integration of GI

Update

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01.03.21

1Spatial — Ahead on all metrics

Flash note

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18.02.21

1Spatial — National Energy System Map contract win

Flash note

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12.02.21

1Spatial — 1Spatial wins data migration contract with NGN

Flash note

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13.01.21

1Spatial — $0.6m contract secured with new US customer

Update

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30.09.20

1Spatial — Resilience and a growing pipeline

Flash note

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28.07.20

1Spatial — Remaining resilient

Update

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15.06.20

1Spatial — Well positioned to cope with any downturn

Update

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23.03.20

1Spatial — Trading in line, no COVID-19 impact so far

Flash note

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06.03.20

1Spatial — Launch of 1Data Gateway

Flash note

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08.01.20

1Spatial — Update suggests performance is on track

Update

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18.11.19

1Spatial — Mapping a future path

Update

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14.10.19

1Spatial — Encouraging early signs from GI

Flash note

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08.10.19

1Spatial — London geospatial pilot project win

Update

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14.05.19

1Spatial — Strategic and financial progress

Update

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08.05.19

1Spatial — Fixing France – further evidence of execution

Update

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07.03.19

1Spatial — Transition on track, EBITDA ‘at least in line’

Outlook

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22.01.19

1Spatial — Spatial awareness

Update

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23.10.18

1Spatial — Building a platform for sustainable growth

Flash note

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27.07.18

1Spatial — £8m raise to drive expansion

research

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29.06.18

1Spatial — Update 29 June 2018

Update

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18.06.18

1Spatial — A note of confidence

Update

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31.05.18

1Spatial — Knowing where it is going

Flash note

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03.04.18

1Spatial — £1.6m deal with Land & Property Services

Update

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15.03.18

1Spatial — Core GIS business robust/disposal of Enables

Flash note

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11.01.18

1Spatial — Progress in the US

Update

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11.10.17

1Spatial — Turnaround plan on track in H1

Outlook

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14.09.17

1Spatial — Recovery plan

research

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09.03.17

1Spatial — Move to a client centric solutions model

Review

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21.12.16

1Spatial — Update 21 December 2016

Update

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16.11.16

1Spatial — Update 16 November 2016

Flash note

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12.07.16

1Spatial — Update 12 July 2016

Update

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07.07.16

1Spatial — Update 7 July 2016

edison tv

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01.07.16

Bitesize Briefing – 1Spatial

Initiation

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05.05.16

1Spatial — Update 5 May 2016

edison tv

TMT

01.05.16

Executive Interview – 1Spatial