1Spatial - Well positioned to cope with any downturn

1Spatial’s FY20 results (to January) confirm reported revenue growth of 33% y-o-y and EBITDA rising 83% (pre IFRS16). The company generated positive underlying cashflow and EBIT in H2, has seen no impact on trading from COVID-19 so far and just secured a $2.6m contract win in the US. However it is prudently acknowledging that sales cycles are likely to lengthen in the current economic climate. As a precaution it has withdrawn forward guidance and stands ready to take action on costs if needed.