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1Spatial (AIM: SPA)

Last close As at 07/05/2024

GBP0.67

▲ 4.00 (6.35%)

Market capitalisation

GBP75m

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 at an inflection point, with technological advancements across both geospatial technology and other technology trends, such as cloud, big data analytics and machine learning/AI enabling new use cases and reducing the barriers to adoption.

Latest Insights

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TMT | Update

1Spatial — Investing in the transformational SaaS opportunity

TMT | Flash note

1Spatial — SaaS applications to build on Enterprise strength

TMT | Update

1Spatial — Landmark 1Streetworks contract

TMT | Flash note

1Spatial — €9m enterprise win with European utility
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Sector

TMT

Equity Analyst

Dan Ridsdale

Head of Technology

Max Hayes

Max Hayes

Associate Analyst

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 14.5 25.2 34.0
Relative 9.2 15.3 25.7
52 week high/low 67.0p/45.5p

Financials

1Spatial’s FY24 results reflected robust momentum for the enterprise business and continued improvement in the revenue mix, with investment in growth suppressing margin and cash generation. This investment phase will continue in FY25 to lay the foundation for transformational growth from 1Streetworks and in the US in the coming years. Our scenario analysis indicates the upside from successful execution is significant, with further wins for 1Streetworks and in the US being the key catalysts for more rapid, operationally geared growth to be priced in.

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 1.37 48.9 13.9
2026E 38.7 7.6 3.8 2.54 26.4 9.8

Research

Flash note

TMT

1Spatial — SaaS applications to build on Enterprise strength

Update

TMT

1Spatial — Landmark 1Streetworks contract

TMT

Update

1Spatial — Investing in the transformational SaaS opportunity
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Thematics

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media

thematic

TMT

Deutsches Eigenkapitalforum (EKF) 2023 technology

thematic

TMT

MediaWatch – Still waiting…
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