Spenda (ASX:SPX) Cuts Cash Burn by Over $1.2m in First Quarter of Reset Model

Sonal Goyal

30 October 2026 05:27 PM AEDT

Spenda (ASX:SPX) Cuts Cash Burn by Over $1.2m in First Quarter of Reset Model

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Highlights

Cash receipts rose to $2.465M from $2.066M in the June quarter.
Underlying cash burn fell to $1.173M, an improvement of more than $1.2M on the prior quarter.
Amenda signed its first major FMCG customer, one of Australia's top 10 dairy companies.
Annualised savings from initiatives since May 2026 total about $4.2M.

Spenda Limited (ASX:SPX) has released its quarterly activities report and Appendix 4C for the quarter ended 30 September 2026. It was the first full quarter under the company's reset operating model, with management stating its priority remains reaching cash flow positive operations.

Improved Cash Flow and Cost Base

Cash receipts were $2.465M, up from $2.066M in the June quarter. Staff costs fell to $1.366M from $1.931M, and corporate overheads declined to $0.428M from $0.565M. Net cash used in operating activities was $1.173M, compared with $2.378M in the prior quarter.

Infrastructure costs for Spenda Retail and Spenda Pay fell by about 60%, and headcount was reduced from 20 to 16. Total annualised savings since May 2026 are estimated at about $4.2M. Management expects group-level cash flow positivity in 2027 if the current run-rate holds.

Product Updates

Amenda, an AI-powered returns management platform for wholesale distributors, signed its first major FMCG customer, one of Australia's top 10 dairy companies with 2026 sales above $250M. The customer goes live in October 2026, and Amenda can now auto-approve returns within client guidelines.

After the quarter, Spenda Gateway was relaunched as an AI-powered accounts payable platform. It targets businesses affected by the ATO ceasing credit card acceptance after 30 November 2026. Spenda Retail continues to support Carpet Court stores, and SwiftStatement had 137 active members at quarter end.

Corporate and Funding

The Board is progressing the sale of underperforming divisions to focus on core revenue-generating products, and work on post-quantum encryption is continuing within a broader strategic review. In August 2026, 15,622,500 shares and attaching options were issued.

Cash at quarter end was $876,000, with $1.607M in unused financing facilities. The Appendix 4C estimates about 2.1 quarters of funding. The AGM will be held on 26 November 2026.

Key Takeaways

Spenda reduced its cash burn significantly in the first full quarter of its reset model.
Cost savings since May 2026 are estimated at about $4.2M a year.
Amenda's first major FMCG customer marks a commercial milestone.
The company is targeting cash flow positive operations in 2027.

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