1Spatial locates more income through French connection

The contract is valued at €1.5 million over four years and will provide annual recurring revenue of €0.38m, representing a 10 per cent uplift.

The deal, alongside ongoing implementation of previously announced major multi-year contracts in France, Belgium and Germany, underpins management’s confidence in the European revenues for the year ended January 31, 2025 and beyond.

The latest success, according to management, underpins the ability of 1Spatial’s software’s to manage huge volumes of complex location data at scale.

The company fulfils this kind of major role through customers and projects such as the National Underground Asset Register in the UK, Google REWS and the California Department of Transportation in the US.

1Spatial CEO, Claire Milverton, said: “We are pleased to report this significant multi-year contract renewal, underpinning European revenue visibility for the current year and beyond.

“With our patented location master data management technology powering some of the world’s most complex national data sets, we see considerable opportunity to support the digital transformation agenda worldwide.

‘We look forward to sharing further details of our progress with our shareholders when we release our interim results in October.”

On early trading today (Wednesday) 1Spatial’s London Stock Exchange share price had risen 2.34 per cent to 60.38p.