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1Spatial PLC on Wednesday maintained an optimistic outlook for the year ahead, after seeing both earnings and sales increase over the financial year. For the year ended January 31, the Cambridge-based data management software company reported pretax profit of £1.1 million, up 10% from £1.0 million a year prior. Group revenue was £32.3 million, up 8% from £30.0 million the previous year. By segment, recurring revenue rose 22% to £18.1 million from £14.8 million, while term licences revenue rose 60% to £8.3 million from £5.2 million. During the period, 1Spatial also launched its software as a service business, bringing in £200,000 revenue from initial trials. Looking ahead, the firm said it had made a ‘solid start’ to trading in the current financial year, with a growing sales pipeline and two ‘significant’ framework agreements secured, with the State of Texas and UK Cabinet Office. Further, 1Spatial remained confident in delivering ‘further progress’ in financial 2025, with a further growth step up in financial 2026 as it benefits from ‘the current ongoing investment’. ‘The group’s financial performance this year demonstrates the successful progress we are making towards transitioning to a high margin, recurring software licence business. Our strategic investments in product development across both the Enterprise and SaaS divisions are yielding positive results and unlocking new markets, providing excitement for the future,’ said Chief Executive Officer Claire Milverton. ‘We will continue to/invest in our US Enterprise and 1Streetworks sales teams to capture what we believe to/be a considerable long-term growth/opportunity.’ 1Spatial shares were trading 2.4% lower at 60.06 pence each in London on Wednesday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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