1Spatial (AIM: SPA)

Last close As at 01/05/2024

GBP0.63

−0.50 (−0.79%)

Market capitalisation

GBP70m

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.

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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)

2.5

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 6.8 19.4 24.8
Relative 4.8 12.5 21.0
52 week high/low 64.0p/45.5p

Financials

1Spatial’s financial performance reflects good progress migrating the business from a bespoke solutions provider to a more scalable software model, with investment back into the business to drive an inflection in growth. While this investment phase is compressing near-term margins and cash flows, we believe it is key to unlocking the potential of the company’s products and establishing a foundation for an acceleration in high quality, scalable growth. We continue to see good potential for the company’s Enterprise solutions while uptake of 1Streetworks could be transformative.

Y/E Jan Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2022A 27.0 4.2 1.1 0.77 81.8 17.3
2023A 30.0 5.0 1.8 1.20 52.5 15.2
2024E 32.1 5.5 2.4 1.57 40.1 13.5
2025E 35.2 6.5 3.4 2.22 28.4 11.3

Research

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1Spatial — Two recent wins highlight US potential

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1Spatial — On board with HS2

edison tv

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1Spatial – executive interview

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1Spatial – executive interview

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1Spatial – executive interview

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1Spatial — $0.5m contract extension with Google

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1Spatial — Completes integration of GI

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1Spatial — Ahead on all metrics

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1Spatial — Remaining resilient

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1Spatial — Launch of 1Data Gateway

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1Spatial — Mapping a future path

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1Spatial — Encouraging early signs from GI

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1Spatial — London geospatial pilot project win

Update

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1Spatial — Strategic and financial progress

Outlook

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1Spatial — Spatial awareness

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1Spatial — £8m raise to drive expansion

research

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1Spatial — Update 29 June 2018

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1Spatial — A note of confidence

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1Spatial — Knowing where it is going

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1Spatial — Progress in the US

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1Spatial — Turnaround plan on track in H1

Outlook

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1Spatial — Recovery plan

Review

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1Spatial — Update 21 December 2016

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1Spatial — Update 16 November 2016

Flash note

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1Spatial — Update 12 July 2016

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1Spatial — Update 7 July 2016

edison tv

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Bitesize Briefing – 1Spatial

Initiation

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1Spatial — Update 5 May 2016

edison tv

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Executive Interview – 1Spatial

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MediaWatch – Targeting the opportunities

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MediaWatch – Vision On

Digital Marketing and Internet Media Technology Platform

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MediaWatch – Screening well

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Consumer

IPO apocalypse

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ESG, moving beyond the box tick

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Direct tech investors

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Consumer

Circular economy business models

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Quantum dots – all the colours of the rainbow

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Micro-LEDs – small is beautiful

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Consumer

Illuminator: August Update

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European video games

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Diversification and scale for online success

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UK video games – Heterogeneous not homogeneous

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Mobile ecosystems

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Mobile ecosystems

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Mobile ecosystems

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NZ – Edison talks tech

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AUS – Edison talks tech

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Mobile ecosystems

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Consumer

Deutsche Börse Eigenkapitalforum 2014 Research Guide

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Mobile ecosystems

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Energy & Resources

ASX Spotlight Conference – London, 6 March 2014

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Energy & Resources

ASX Small to Mid Caps Conference – London, 7 March 2013

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The third pillar

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The real disruptor

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Merger mania is back