Spectur reports rising sales of remote area IoT security systems

Hardware sales are powering off grid security and IoT solutions provider Spectur (ASX: SP3) to expand revenue and margins in the Australian market.

The Perth company reported revenue in the first quarter of FY2020 of $1.26 million with gross margins improving to 60 per cent of sales.

Hardware sales have seen a 30 per cent per annum compound annual growth rate as it has extended its presence with new offices In Brisbane, Sydney and Melbourne.

The young company is still in a loss-making situation, however its working capital buffer is considered sufficient to move to net positive cash generation and positive earnings without raising new capital.

The company specialises in solar powered security camera installations for unpowered areas, connected to clients offices via the cloud.

The system can illuminate the site if it detects an intruder and alert the clients’ mobile phone via an app. Clients can also view their cameras in real time via the cloud.

Customers include the Defence Department, John Holland, LendLease and Stockland.

The core of the company’s business is its artificial intelligence (AI) software utilising the internet of things (IoT), system integration of cameras, computing and connectivity, and assembly and testing of complete systems.

During the present quarter the company is focused on finding new product extensions to its existing range and finalising a R&D roadmap for the next two years.

Picture: Spectur Ltd

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