£30.6m market cap
33.5p last close
1Spatial’s core technology validates, rectifies and enhances customers’ geospatial data. The combination of its software and advisory services reduces the need for costly manual checking and correcting of data.
Investment summary
1Spatial’s transition plan appears to be on track. Recent contract wins, US trends and mobile solutions should both sustain growth and ensure it reaches profitability and positive free cash flow targets. In the longer term, its ambition to become a leading location master data management (LMDM) supplier has the potential to enhance both its competitive position and strategic value. Success is not guaranteed but we would argue that, trading at c 1.3x FY21e EV/sales, nor is it factored into the valuation.
Y/E Jan |
Revenue (£m) |
EBITDA (£m) |
PBT (£m) |
EPS (fd) (p) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2017A | 15.1 | (0.9) | (12.8) | (1.75) | N/A | N/A |
| 2018A | 16.9 | 0.4 | (1.5) | (2.30) | N/A | 83.5 |
| 2019E | 17.8 | 1.0 | (1.0) | (1.15) | N/A | N/A |
| 2020E | 18.8 | 1.7 | 0.5 | 0.44 | 73.4 | 16.6 |
| Last updated on 23/10/2018 | ||||||
Industry outlook
The GIS industry is large and growing – P&S Market Research estimates the global GIS software, services and hardware market at US$9.0bn, forecasting a 10.1% CAGR to reach US$17.5bn by 2023. Software is estimated to account for around half of this market at present, with growth forecast at c 9% through 2023, whereas the revenue opportunity for services is expected to grow more rapidly – at c 12% from around US$3.5bn at present.
Last updated on 23/10/2018
Sector |
|---|
| TMT |
Share price graph
Balance sheet |
|
|---|---|
| Forecast net cash (£m) | 5.8 |
| Forecast gearing ratio (%) | N/A |
Price performance
% |
1m |
3m |
12m |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||
| *% relative to local index | |||||||||||||||
Key management |
|
|---|---|
| Andy Roberts | Chairman |
| Claire Milverton | CEO |
| Nicole Payne | Financial Accountant |
You may also be interested in…
- 4imprint Group
- 7digital Group
- Allied Minds
- appScatter
- Bigblu Broadband
- Blancco Technology Group
- Boku
- Brady
- Carclo
- Claranova
- discoverIE Group
- Ebiquity
- EMIS Group
- Entertainment One
- eServGlobal
- Euromoney Institutional Investor
- Future
- GB Group
- GVC Holdings
- IQE
- Kape Technologies
- Keywords Studios
- Mercia Technologies
- Nanoco Group
- OnTheMarket
- Osirium Technologies
- SCISYS Group
- StatPro Group
- The Mission Marketing Group
- WANdisco
- XP Power
- YouGov