1Spatial (AIM:SPA)’s Chief Financial Officer Stuart Ritchie spoke about the company's focus on SaaS growth and its financial outlook at the Proactive One2One Investor Forum, highlighting 1Spatial (AIM:SPA)’s commitment to delivering accurate geospatial data solutions to governments, utilities, and transportation sectors.
He emphasised that precise data is critical for decisions impacting infrastructure, emergency response, and urban planning, he explained, “If they have inaccurate data, ultimately, it's going to cost them money and time.”
Ritchie shared the company’s ongoing shift from services to software solutions, increasing its recurring revenue model and strengthening financial predictability. 1Spatial (AIM:SPA)'s Streetworks software, launched this year, stands out as a high-margin SaaS product with recent significant contracts, such as a £1 million agreement with Surrey County Council.
1Spatial’s objective is to achieve a revenue split of 50% SaaS and 50% enterprise by expanding its client base and maintaining strong partner networks. These efforts, Ritchie said, position the company for long-term sustainable growth with a robust financial base.