During the financial year ending 31 January 2019, 1Spatial group reported that it generated revenue in line with market expectations. Cash at the year-end was £6.4m. The group expects adjusted EBITDA to be at least in line with market expectations due to its strategy to expand the client service proposition and its cost control approach.
1Spatial provides technology based solution for the geospatial industry and is mid way through a phase II transition plan, having completed a push towards commercialising its existing IP, selling multi-year contracts and exiting non-core activities, in phase I.
Andy Roberts, 1Spatial, Chairman, commented: “This had been a sound year for 1Spatial. We have achieved a good financial result through a very clear strategic focus, operating improvements, and cost and cash control. We have also achieved some notable client wins in the period, established a clear technology roadmap for the group and deepened our ties with our key partners – particularly Esri.