2 July 2024
1Spatial
plc
("1Spatial", the
"Group" or the
"Company")
US contract wins underpin
enterprise opportunity in the US
1Spatial, (AIM: SPA), a global leader in
Location Master Data Management (LMDM) software and solutions, has
secured several new contracts in the US, that demonstrate material
progress on the Group's US expansion plans. The US is a key part of
the Group's overall growth strategy based on the strength of the
Company's offerings, existing customer relationships and the
significant market size. The Group is bringing its unique
technology and solutions to an expanding market. 1Spatial now has
contracts or framework agreements with 21 US States, up from 18 US
States at the year end. The US business has considerable expansion
potential with an ambition to generate on average $1m Annual
Recurring Revenue ("ARR") from each State per annum.
The recent contract wins and renewals
include:
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Two customer wins for 1Spatial's automated
traffic conflation solution, which is powered by 1Spatial's
patented 1Integrate rules engine, with the Departments of Transport
(DOT) for the State of Virginia and State of Georgia. These
contracts will deliver, in aggregate, at least $0.5m in
ARR.
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1Spatial has been awarded a position on a
five-year framework agreement with the State of Tennessee in
partnership with Rizing, a Wipro company. This is our first
engagement in the State of Tennessee and the agreement will deliver
data management for Highway Information Systems. 1Spatial,
alongside Rizing, was ranked first for its highway systems and data
management solutions.
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NG-9-1-1 two-year contract renewal with an
existing customer, the State of Minnesota, delivering $0.25m ARR.
This is an expanded contract which represents an increase of
approximately $0.1m in the annual contract value.
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These repeatable solution sales contribute to
the Group's increasing levels of recurring revenue and provide good
revenue visibility from the Group's US operation.
Commenting on the wins, 1Spatial CEO, Claire
Milverton, said: "We continue to see considerable opportunity
in the US, supporting the digital transformation of transport and
emergency services departments, for which accurate, reliable, and
up to date location data is vital.
These wins and the renewal demonstrate the quality of our
product and underpin our ambition to generate on average $1m in ARR
from each State per annum. Alongside our newly launched SaaS
offerings, the Company has a number of growth vectors available to
deliver on its ambitions."
For
further information, please contact:
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1Spatial plc
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01223 420 414
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Claire Milverton / Stuart
Ritchie
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Panmure Liberum (Nomad and Broker)
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020 3100 2000
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Max Jones / Edward Mansfield
/ Anake Singh
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Alma
Strategic Communications
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020 3405 0205
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Caroline Forde / Hannah
Campbell
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1spatial@almastrategic.com
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About 1Spatial plc
1Spatial plc is a global leader in
providing Location Master Data Management (LMDM) software,
solutions and business applications, primarily to the Government,
Utilities and Transport sectors via the 1Spatial platform. Our
solutions ensure data governance, facilitating the efficient,
effective and sustainable operation of customers around the world.
Our global clients include national mapping and land management
agencies, utility companies, transportation organisations,
government and defence departments.
Today, when using and sharing
trusted data provides significant opportunities for businesses and
governments to deliver against important sustainability and Net
Zero goals, our vision is clear - to make the world safer, smarter
and more sustainable by unlocking the value in data, enabling
better decisions and greater insights.
The 1Spatial platform is a
comprehensive set of data and system agnostic LMDM software
components which helps ensure master data is compliant, current,
complete, consistent, and coordinated - and that customers can be
confident it will remain that way as it evolves. It allows them to
master their data on any device, anywhere, anytime and can be
deployed as SaaS in the cloud, on-premise, or as a hybrid of
both.
Our domain expertise and data
agnostic approach allows us to be an integral and important part of
the Geospatial Ecosystem, supporting the wider digital
economy. We partner with major technology consultancies
and GIS providers such as ESRI and bring together our people,
innovative solutions, industry knowledge and experience from our
extensive customer base to deliver world class
solutions.
1Spatial plc is AIM-listed,
headquartered in Cambridge, UK, with operations in the UK, Ireland,
USA, France, Belgium, Tunisia, and Australia.
www.1spatial.com
