1Spatial shares rise after issuing AGM statement

1Spatial, the AIM-listed global leader in Location Master Data Management (LMDM) software and solutions, has released a brief trading update ahead of its Annual General Meeting.

The company reports that full-year trading is expected to align with market expectations as the company purses a growth strategy across the Uk and US.

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1Spatial shares were 2% higher at the time of writing.

“Trading for the full year is expected to be in line with expectations. We have secured several new contracts in Europe and the US (as previously announced) in recent months, and we continue to make progress with our innovative 1Streetworks SaaS offering,” Andrew Roberts, Non-Executive Chairman, will say in a statement at the AGM today

“Planned targeted headcount increases across the US Enterprise and 1Streetworks businesses are well underway. With the onboarding of an NG9-1-1 (public safety) specialist in May and a highly experienced sales director joining the Company early in H2 to strengthen the 1Streetworks team. This reflects our approach to ensure our sales and delivery teams have a greater sector focus.  

“The Group has a strong order book, a growing recurring revenue stream and substantial sales pipeline underpinning the Board’s confidence in the outturn for FY25.  We believe the investments we continue to make in people and technology have positioned the business well to take advantage of the huge opportunity ahead.”

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