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Tuesday 14 May 2019

1Spatial maps out path to growth

1SpatialFull year results out today from 1Spatial, the Cambridge-based geospatial software firm, show continued steady progress, the reward for focusing the business on what it does best.

Having divested its loss making cloud division Enables IT in March 2018 1Spatial has been gathering positive momentum (See here) in its transition for a while now. In 2018 1Spatial saw revenue grow 4.1% to £17.6m (2018: £16.9m) whilst adjusted EBITDA grew £0.8m to £1.2m ahead of market expectations (2018: £0.4m profit).

In June 2018 1Spatial changed its licensing model from perpetual to subscription-based licencing, a move designed to have a positive impact on the visibility and predictability of revenues.

1Spatial has also been raising cash with £8m funding last year and another £3.1m announced just last week. Some of which has already been deployed with 1Spatial strengthening its European offer with the acquisition of French geospatial software provider Geomap-Imagis for €7m and a strategic agreement with GIS player Esri.

Its nearly two years since the company changed both its leadership and its strategy, sensibly focusing on its core geospatial business. Whilst there is still plenty to be done this does represent a solid set of results and continued progress, all heading in the right direction.

Posted by Marc Hardwick at '09:04' - Tagged: results   geospatial  

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