Spectur Ltd Company Profile
ASX:SP3

Combining Solar Power, Visual AI & IoT To Solve High Value Problems

Spectur are commercialising their solar powered wireless security camera technology while also developing a next-gen edge-based AI platform for additional market verticals.

  • Company
    Spectur Ltd
  • Website
  • Sector
    Electronic Equipment, Instruments & Components
  • Industry
    Electronic Equipment & Instruments
  • Code
    ASX:SP3
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Company Overview


Spectur Limited (ASX:SP3) develop, produce and commercialise a sophisticated solar powered wireless security camera system that combines AI & IoT applications. Spectur are currently focusing on two major customer types within Australia and New Zealand: 1) government, utilities & institutions and 2) building & construction. Spectur are aiming to disrupt additional market verticals with the development of its next generation "STA6" product, which could deliver a sophisticated edge-based AI and LoRaWAN IoT platform for research, consumer analysis, environmental sensor hosting, safety applications and more.

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Executing In Security & Developing Blue Sky Potential

Spectur are executing in the security market vertical, achieving a cashflow positive quarter in Q2 FY2020, while also developing blue sky potential with its soon to be launched "STA6" platform.
Growth

Spectur have developed a comprehensive sales strategy and have added additional outbound sales staff to further drive revenue growth.

Disruption

Spectur are developing its next generation STA6 technology, which will allow them to disrupt multiple market verticals.

Expertise

New Managing Director, Gerard Dyson, is an ex-Regional Managing Director of Advisian, the consulting arm of Worley Ltd (ASX:WOR).

ASX presentation

Click here to view the latest presentation

Solving A Significant Economic Pain Point

Spectur specialise in the development, production and management of solar powered wireless security camera technology. Currently, Spectur are using this technology in unpowered locations to stop crime in real time. Before using Spectur, Spectur's clients have reported that the average cost per incident of crime exceeded $30,000, with the most expensive event in excess of $200,000. Six Spectur cameras are capable of covering a site as large as an acre and costs only $80 a day, which is 16% the cost of hiring guards.

Watch it in action

Watch how Spectur stops crime in real-time

Spectur Clients

Spectur's solution is trusted by small business to multi-nationals

How Spectur Intends To Grow Sales

Spectur are expecting top line growth to accelerate as a result of increasing outbound sales into government & utilities, while maintaining base inbound growth rates in building & construction. Spectur's strategy is being led by Managing Director Gerard Dyson. Dr Dyson has extensive experience consulting to large government, environmental & resource clients during his time at Worley's (ASX:WOR) consulting arm as a Regional Managing Director.

Current Focus: Security in AUS & NZ

Spectur's focus is currently aimed at the security market vertical in Australia & New Zealand. Although Spectur have already produced a maiden cash-flow positive quarter in Q2 FY2020, Spectur intend to invest heavily in increasing its revenue base and streamlining its operations. As of 31st December 2019, Spectur had A$2m+ of cash on hand, which is expected to be sufficient to fund the current strategy.

Latest Quarterly

Read Spectur's cash flow positive quarterly result

The Blue Sky: STA6

Spectur aim to create solutions for even higher value problems by combining edge-based AI, a LoRaWAN gateway for IoT sensors as well as improvements in the core platform including extended night sensing and 360 vision (zero blind spots). Spectur are in ongoing discussions with several groups about how its future platform will be able to solve issues across research, consumer analysis, the environment & safety. The arrival of STA6 is expected to significantly increase the addressable market for Spectur well beyond the security market vertical.

Clock icon Information current at 10 March 2020

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Executing in security with blue sky potential

Erik Bergseng CFA®
Written by Erik Bergseng CFA®
Published Mar 11, 2020

At the current market capitalisation (~A$5.1m as of 11th March 2020), we think there is evidence that suggests an investment in Spectur has an asymmetric risk-reward profile. In terms of downside risk reduction, the company recently produced a maiden cash flow positive quarter (Q2 FY2020), with much of the anticipated spending looking ahead being discretionary (e.g., adding sales people which could in turn continue to grow the top line). Furthermore, the company has a cash balance of ~A$2m as of the 31st December 2019. Both of these things in combination mean that Spectur is less likely to be forced into a dilutive capital raising in the near-term.

On the upside, Spectur are looking to continue executing in the security market vertical by rolling out a sales strategy coordinated by the new MD Gerard Dyson, an ex-Regional Managing Director of the consulting arm of Worley Limited (ASX:WOR, ~A$5bn market capitalisation). The immediate focus of Spectur appears to be in the Australia & New Zealand markets, however the ability to expand Spectur's security solution into larger markets such as the U.S. remains a longer-term possibility. The launch of STA6 could also see Spectur enter into new market verticals. Spectur have indicated they are already in ongoing discussions with various parties that are in these potential future market verticals.

We think the data points mentioned above is evidence that suggests an investment in Spectur has an asymmetric risk-reward profile. Nonetheless, small-cap equity investing entails significant risk with the possibility for partial or complete loss of invested capital. A key risk for Spectur includes but is not limited to their need to maintain and grow revenues in order to reach a sustainable cash-flow positive position. As always, investors should conduct their own due diligence, without any reliance on our views, before investing, or refraining from investing, in Spectur.


The information within this section has been provided by Mawson Graham and is for general information purposes only and is not intended to reflect any recommendations or financial advice. The information in this section has been prepared without taking into account your objectives, financial situation or needs. For this reason, you should consider the appropriateness of the advice or recommendation in light of your own personal circumstances, relevant risk factors, the nature and extent of your risk of loss, as well as the legal and accounting consequences before acting making an investment or trading decision regarding any Financial Product mentioned herein. While it is believed that all information sourced and contained within this section to be accurate at the time of publication, liability for any errors, omissions, accuracy or completeness of the information (except any statutory liability which cannot be excluded) is specifically excluded by Mawson Graham, its associates, officers, directors, employees and agents. Past performance is not a reliable indicator of future performance. Important Disclosure: Mawson Graham, its directors, associates and employees advise that they may hold securities, may have an interest in and/or earn brokerage, investor relations fees, corporate fees, and other benefits or advantages, either directly or indirectly from client transactions arising from any information mentioned within this section and in documents published within this section.
Mawson Graham
Mawson Graham

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