1Spatial - 1Spatial wins strategic UK government contract

1Spatial announced the signing of a new multi-year contract with Atkins to support delivery of the National Underground Asset Register (NUAR) project, with a total potential value of £6.5m over 37 months. The win followed a competitive tender process, and as a key supplier to the UK government’s Geospatial Commission, 1Spatial will be leading the development of the project’s multi-year data transformation and data ingestion programme. We make a slight upgrade to our FY22 and FY23 forecasts to reflect the £0.5m committed portion, while if all goes to plan, the £6.0m optional component would fall in future years. We are encouraged by 1Spatial’s continued contract momentum and see scope for an acceleration given current execution and structural trends.