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.

The geospatial industry is expected to grow at a double-digit rate, as advances in data capture, processing and analytics provide ever more detailed insights. Adoption is 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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Update

21.10.24

1Spatial — £1m 1Streetworks deal highlights the opportunity

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Update

14.10.24

1Spatial — Contract momentum underpins growth prospects

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Flash note

09.10.24

1Spatial — Federal-level win in the US

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Flash note

02.07.24

1Spatial — Contract wins underpin US growth opportunity

Sector

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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	0.0	0.8	39.6
Relative	3.2	4.0	28.9
52 week high/low	76.0p/46.0p

Financials

1Spatial has announced the completion of a landmark deal for its key 1Streetworks application. Originally highlighted at the interims, the company has now revealed the client to be Surrey County Council. The deal is encouraging for two reasons. Firstly, the size of the deal (£1m over 12 months) indicates that the potential opportunity for this product is large. Secondly, the council’s plan to use the product as a collaboration tool with contractors and utility companies should help stimulate wider adoption within the industry.

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	55.8	16.2
2024A	32.3	5.5	2.1	1.40	47.9	17.1
2025E	35.8	5.7	2.1	1.36	49.3	13.9
2026E	38.7	7.6	3.8	2.53	26.5	9.8

Flash note

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07.07.23

1Spatial — SaaS progress and pipeline support prospects

Flash note

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19.06.23

1Spatial — First wins for key SaaS product

Update

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02.05.23

1Spatial — New SaaS apps to drive high-margin growth

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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

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28.09.22

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

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05.09.22

1Spatial — Two recent wins highlight US potential

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19.07.22

1Spatial — Flying high with a major EU aerospace company

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08.06.22

1Spatial — On board with HS2

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27.05.22

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

edison tv

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19.05.22

1Spatial – executive interview

Flash note

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11.05.22

1Spatial — Going to California with Caltrans on my mind

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28.04.22

1Spatial — Solid progress on several geospatial fronts

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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

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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

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13.09.21

1Spatial — 1Spatial wins strategic UK government contract

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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

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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

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01.04.21

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

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18.03.21

1Spatial — Completes integration of GI

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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

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12.02.21

1Spatial — 1Spatial wins data migration contract with NGN

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13.01.21

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

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30.09.20

1Spatial — Resilience and a growing pipeline

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28.07.20

1Spatial — Remaining resilient

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15.06.20

1Spatial — Well positioned to cope with any downturn

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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

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08.01.20

1Spatial — Update suggests performance is on track

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18.11.19

1Spatial — Mapping a future path

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14.10.19

1Spatial — Encouraging early signs from GI

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08.10.19

1Spatial — London geospatial pilot project win

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14.05.19

1Spatial — Strategic and financial progress

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08.05.19

1Spatial — Fixing France – further evidence of execution

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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

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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

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18.06.18

1Spatial — A note of confidence

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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

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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

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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

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01.05.16

Executive Interview – 1Spatial