Highlights

  • Revenue for the year to 30 June 2026 reached $7.87 million, down from $8.71 million in the prior year.
  • Cash closed the year at $1.36 million, following a $2.3 million placement at $0.03 per share.
  • Banana Shire Council and Mt Isa Regional Council contracts, worth about $200,000 and $110,000, were won in the June quarter.
  • Anthony Schmidt joined the board as Managing Director on 1 September 2026, while Santo Carlini resigned.

Revenue slipped and losses widened, yet Spectur Ltd (ASX:SP3) is steering away from hardware-led surveillance toward a solar-powered 'Sense, Think, Act' platform built on recurring revenue. A new managing director, fresh council contracts and an expected lower operating cost profile underpin that shift as FY27 gets under way.

Full-Year Results Show a Business in Transition

Revenue for the year to 30 June 2026 was $7,865,967, about 10% below the $8,707,477 reported a year earlier. The loss after tax widened to $978,051 from $778,999, and the EBITDA loss reached $1,193,854 against $638,812. Operating cash flow swung to an outflow of $1,179,086 from an inflow of $291,552.

The balance sheet strengthened, however. Cash rose to $1,360,899 from $1,080,034, and net assets reached $1,383,824 compared with $103,891. Borrowings stood at $207,428. The directors flagged a material uncertainty over going concern, noting that forecasts depend on a material improvement in FY27 revenue and operating cash flow, careful management of expenditure and additional funding if required.

June Quarter Brings Council Wins and a Legal Dispute

Quarterly revenue reached $2.023 million, compared with $1.889 million in the March quarter and $2.117 million a year earlier. Recurring revenue was $1.240 million, below $1.347 million in the prior quarter and $1.481 million a year ago.

Commercial progress included the Banana Shire Council and Mt Isa Regional Council contracts, and a Telstra proof-of-concept trial continues.

The company estimates it lost about $1.0 million in annual recurring revenue from its Perth construction rental camera fleet. It has filed proceedings in the Western Australian Supreme Court against a former employee, alleging breach of restraint and confidentiality obligations, and spent about $135,000 on the matter during the quarter.

Funding and Board Changes

A placement of about $2.3 million at $0.03 per share completed on 29 October 2025. The company repaid its earlier R&D loan on 5 January 2026 and drew a new R&D funding facility of up to $630,000 in full on 7 August 2026, at 13.5% a year.

On 1 September 2026, chief executive Anthony Schmidt joined the board as Managing Director. Santo Carlini resigned from the board.

Platform Priorities for FY27

The first tranche of platform modernisation is complete, and the enterprise customer portal is live. Target verticals for FY27 are public safety on beaches and waterways, ports and critical infrastructure, construction and civil, and mining and resources. The company is also exploring drone acquisition opportunities and aims to fund growth from operations rather than share issues.

It expects a materially lower operating cost profile entering FY27 and expects inbound enquiries to support pipeline growth, subject to market and operating risks.

Stock Price Information

Spectur shares fell 11.11% to A$0.008 on 27 October 2026, leaving the company with a market capitalisation of about A$3.33 million. The stock is down 75% over the past year.