Highlights

  • Spectur generated A$1.47 million in Sep-2026 quarter revenue, below A$2.02 million recorded in the June 2026 quarter.
  • Recurring Revenue held broadly steady at A$1.22 million, while customer cash receipts eased to A$1.54 million.
  • Quarter-end cash stood at A$0.76 million after a A$1.10 million net operating outflow and A$630,000 R&D funding.
  • Shareholders will vote on director remuneration shares, Options and managing director performance rights on 30 November 2026.

Spectur Limited (ASX:SP3) opened FY27 with a softer quarter, reporting lower revenue and cash receipts for the three months to 30 September 2026 while it relocated production to Melbourne and continued repositioning from a hardware supplier towards rugged AI services.

The company designs, manufactures and maintains solar-powered security, surveillance, warning and environmental monitoring systems for government, utilities and construction customers, and reports more than 600 active customers.

September Quarter Reflects Seasonal Softness and a Lost US Contract

Revenue for the Sep-2026 quarter was A$1.47 million, down from A$2.02 million in the June quarter and A$1.93 million a year earlier. Recurring Revenue was broadly stable at A$1.22 million, but below A$1.31 million in the prior corresponding period after the Orange County contract in the United States was completed and not renewed.

Customer cash receipts fell by A$0.90 million on the June quarter, which management partly attributed to seasonality. The net operating cash outflow was A$1.10 million, with staff costs of about A$1.0 million.

Financing inflows included a A$630,000 Research and Development advance, entered in August 2026 at 13.5% a year and secured against the expected FY26 R&D tax incentive refund. Cash at 30 September 2026 was A$0.76 million, down from A$1.36 million at the end of June.

FY26 Results Framed as a Transition Year

For FY26 to 30 June 2026, revenue declined 10% to A$7.87 million from A$8.71 million, and the loss after tax widened to A$978,051 from A$778,999. System sales rose 11% to A$1.95 million and subscription revenue was steady at A$3.62 million, while rentals fell 30% to A$1.69 million.

Spectur linked lower Western Australian rental income to alleged conduct by former employees and has commenced proceedings in the Supreme Court of Western Australia. Subscriptions and rentals together reached 68% of revenue, up from 57% in FY25. New Business included ADT Security, Ipswich Council and Transport for NSW.

Board Changes Shape the November AGM Agenda

On 1 September 2026, Chief Executive Anthony Schmidt joined the board as Managing Director with fixed remuneration unchanged at A$295,000 a year, and non-executive director Santo Carlini resigned. The virtual Annual General Meeting on 30 November 2026 will consider the re-election of Marco Da Silva, remuneration shares for directors in lieu of cash fees, 8 million options for each of three directors, and 6 million performance rights for Mr Schmidt tied to FY27 targets including EBITDA, revenue and annual recurring revenue.

FY27 Plan Targets Lower Costs and Recurring Revenue Growth

Management expects the move of production to Melbourne to reduce overheads by about A$100,000, shorten delivery times and lower freight costs for east-coast customers. One-off cloud optimisation spending is expected to reduce ongoing costs in later quarters.

The company has outlined an FY27 to FY29 plan built on six pillars. FY27 priorities include expanding sales capacity, pursuing larger deployments, growing recurring revenue products and developing its next-generation STA9 edge platform. No specific FY27 financial guidance has been given.

Shares were priced at A$0.006 on 2 November 2026, up 20% on the day, giving a Market Capitalisation of about A$2.5 million. The stock was down 78.57% over 12 months.