1spatial Share Discussion Threads

[mellodaniel] 12/11/2024 10:51

Hi all,

Join us at Mello 10th Anniversary Show on the Wednesday 20th November to see 1Spatial present & exhibit alongside 20 other top quality companies. Their CEO, Claire & CFO, Stuart will be there to present in-person and answer your questions...

Do grab yourself a ticket here:
We even have a discount code for you (50% off): MMTADVFN50

Date & Venue: Tuesday 19th November & Wednesday 20th November 2024, 9.00am – 7.00pm
Derby Conference Centre, Derbyshire

[gopher] 25/10/2024 17:11

I have now read the Edison research note and perhaps they read my previous post on the collaboration benefits of 1streetworks - I'd like to think so. Anyway you heard it on this thread first.Edison don't attempt to quantify but as a former PM used to writing business cases this is a benefits game changer from departments promising to be more efficient (decent) to wider benefits to the public and efficiency saving across organisations (mega no brainer and something that will appear in lots of PowerPoint presentations at a senior level).Edison rightly say it's all early doors but in better markets the increased scale of the opportunity would be quickly discounted by a decent share price rise. Well done Claire and team those recent hires look very proactive.

[robsy2] 22/10/2024 16:16

That is an interesting question. The biggies are Streetworks and NG 9:1:1. They see them as being worth tens of millions a year.
All very speculative but if they achieve half of what they are targeting, the company could be turning over 80-100m a year within 5 years.

[robsy2] 21/10/2024 07:30

Encouraging news.Taken from Edison research note this morning.

Valuation: Encouraging signs, success not priced in Our estimates remain unchanged, but momentum in the US and with 1Streetworks is encouraging and a continuation could provide a foundation for operationally geared upgrades. 1Spatial trades at a discount to peers on an EV/sales basis but at a premium on EV/EBITDA and P/E, reflecting a growth-oriented cost base. Successful execution is not reflected in the valuation. Our DCF analysis suggests a share price of 100p is achievable if the company reaches half of its five-year £40m annual recurring revenue goal for 1Streetworks, with a fair value of 270p if fully achieved.

[sjmarvel] 17/10/2024 06:35

If anyone gets the opportunity please ask the directors if there are any ongoing payment plans in place with any creditors.

[robsy2] 16/10/2024 11:43

Very good points Gopher.

[gopher] 16/10/2024 09:22

Thanks I was on same presentation and so additionally.1streetworks has developed a compelling business case - I hadn't seen the possibility of all utilities sharing a cloud based plan to reduce road closure time before by working simultaneously. I thought it interesting they focussed on the US opportunity given its a relatively small part of the business. They are partnering here which seems sensible.Seriously undervalued given the IQGEO take out price. My own thoughts are they have historically delivered 10% growth pa but this could be set to increase from 2026. They have done the software development, now it's over to sales - their markets are solid & recession proof but there is a large customer base and traditionally utilities and public authorities are not quick decision makers.

[robsy2] 16/10/2024 08:35

Indeed.
I have listened to the Presentation and note the following;
They see no liquidity issues going forwards.
PE bods contact the company regularly but Claire is not interested and notes the 140p target price from one broker. She has been a firm buyer of shares over many years .
They sound confident.
They look well positioned with Streetworks and the NG9:1:1 framework deals.
The data conflation angle they have gives them a very nice positioning.
The second half should see the UK and Ireland back to growth and cash flow will improve as it always does in H2.
The other geographies like Australia and Europe are showing some decent growth as well.
It has all been a bit of a balancing act cash-flow wise and while they are still under some pressure, they now have the resources to focus on sales and finding customers.
The share price wobbles of a few weeks ago are just wobbles and worries about the budget or some such, she has no explanation for it.
In 2021 they had sales of 30m GBP and EPS -0.6p , for FY2026 ( shockingly near!) they forecast sales of 39m GBP and EPS of 2.7P. That is serious progress and it looks like there is a lot more to come.
IMV,they look nicely poised for further success.

[qs99] 15/10/2024 10:03

thanks and they have both bought more shares, IMO that is a decent sign! DYOR

[tomps2] 15/10/2024 07:53

1Spatial CEO, Claire Milverton and CFO, Stuart Ritchie present the group’s results for the six-month period ended 31 July 2024.

Watch the video here:

Or listen to the podcast here:

[martinmc123] 14/10/2024 10:57

SPA – 1Spatial plc
4*
Posted another solid set of Interims for H1 25. Group revenue was up 5% to £16.2m driven by a 9% increase in recurring revenue to £8.9m representing 55% of total revenue. There was also a 26% increase in Term Licences revenue to £4.3m driven by new business wins in the United States. Groupp ARR growth was a little stronger at 7% yoy. The solid topline performance fuelled an 18% yoy increase in adjusted EBITDA to £2.0m. The outlook provided was also solid sounding, a strong new business and renewals pipeline provides the Board with confidence in achieving results for FY 2025 in line with market expectations. Consensus...from WealthOracle

wealthoracle.co.uk/detailed-result-full/SPA/866

[gopher] 09/10/2024 20:01

Results next Monday and both announcements this week are positive and share price has reacted in the right direction. These smaller AIM stocks are thinly traded and we seem to have drifted down with the market on no news.

[robsy2] 09/10/2024 06:53

Good news today.This all helps the future RR's.

We are overdue breakthrough news re Streetworks which as Edison noted in their report

"The company has four trials ongoing, with an additional 10 expected to start in H125, which have potential annual recurring revenues (ARR) of between £100k and £3m."

That was written in May I think.

[fevertreeman] 02/10/2024 11:26

Milverton has been claiming that SPA has sufficient cash and facilities to cover working capital requirements and planned investment. A shufti at the results back in May makes mixed viewing and suggests to me that whlst momentum hasnt stalled, they appear to be wading through treacle:

- Revenue growth of 8% hardly dramatic stuff, but big improvement in recurring revs

- Margins of 17%, yes held back by heavy R&D expenditure but acknowledgement that inflation is a problem which I read as they arent recovering their inflation inputs from the customer base, who are resisting.

- the biggest issue is cash...net cash is only c£1.1m with another £4m in available finance. That seems way too low for comfort, and certainly not enough to scale the business

[robsy2] 02/10/2024 11:13

We'll see soon enough. AIM is hard on companies that want to raise money..

[fevertreeman] 02/10/2024 10:58

Completely agree with your assessment. The sales velocity just isn't there at present, and they are struggling to deliver the sales volumes expected/needed. I was quite concerned back in March after the results that Milverton was signalling problems ahead with what appeared like a change in strategy, with the need to build out sales and marketing capacity. I would not be surprised if Milverton comes to the market with a raise to accelerate things.

[robsy2] 30/9/2024 10:30

We need positive news on Streetworks adoption which does indeed look like an uphill task.
The new appointments suggest they realise they need to push things forward more quickly. Problem here could be that the company lacks resources to invest in the opportunities it talks about. Should be ok anyway, but it just looks like a company that could do with an extra 10million cash to accelerate the process of turning opportunities into sales. They just don't have the money to invest.
Results will reveal more about where we are.

[gopher] 30/9/2024 10:01

Todays announcement of management/sales appointments into the uk operation looks sensible and the a sign of a growing company. They have given the impression that it is Claire with a team of techies and I assume this frees up her time to concentrate on international.

[gopher] 26/9/2024 14:04

I can't think they know much about Europe or US operations so my guess would be converting the new highways notice software into sales is an uphill task, it usually is unless your name is Microsoft etc.

[spwh100] 25/9/2024 00:14

Yeah looks like the city boys know something the rest of us don't

[dogwalker] 24/9/2024 16:12

Shame : we all ought to have sold when it was over 70p over a heady summer.
(Wonder what the bad news coming is going to be.)

[gopher] 16/9/2024 10:46

Some consistent but low volume selling has taken the share price down recently. No news until interims in mid Oct

[hubshank] 29/7/2024 19:10

Yes o thought that but I think that's based on current position and not factoring in any growth. HOWEVER massive spread in mail on Sunday saying the road is clear or some such positive headline. Found it on LinkedIn just now

[gombie] 29/7/2024 11:37

Thanks Hubshank. 15% isn't much to shout about?