US deals drive 1Spatial first half revenues

Revenue was up five per cent to £16.2 million to July 3 driven by a nine per cent increase in recurring revenue to £8.9m. That represented 55 per cent of total revenue while 1Spatial notched a 26 per cent rise in term licences revenue to £4.3m driven by new business wins in the United States.

The company expanded its US footprint to 21 States (from 18 in H1 2024), each with significant expansion opportunity. Contract wins were secured and strengthened across the UK, US, European and Australian arms of the business.

1Spatial reports a growing pipeline for 1Streetworks, with notification of an award of £1m (subject to contract) with a county council, post-period-end.

Flagship customer, UKPN, has successfully deployed 1Streetworks across multiple divisions.

AIM-quoted 1Spatial says the second half has started well with a significant contract renewal with a French government agency, a new customer win with the US Forest Service and good progress on contract renewals.

CEO, Claire Milverton, said: “We have enjoyed a positive first half of the year, successfully executing on key strategic initiatives. Notable achievements include the timely deployment of 1Streetworks within UK Power Networks, strategic expansion into new US states and sectors and strategic hires to set the business up for further growth.

“Looking forward, our primary focus will be on accelerating the momentum of our SaaS offerings, converting our expanding pipeline and further penetrating the substantial US market.

“The notification of the award of a second major 1Streetworks deal for £1m (subject to contract), coupled with a growing NG9-1-1 pipeline, reinforces our confidence in continued progress throughout the remainder of the year.”