Off grid security and IoT solutions provider Spectur (ASX: SP3) has reported its best quarterly sales performance as uptake of the company’s products begins to accelerate.
Spectur, which makes IoT connected solar powered security camera installations for unpowered areas, booked its first positive quarterly cash flow in the latest quarter with cash flow from customers of $1.5 million.
This included a $332,000 R&D tax refund from the federal government.
Sales for the first half of the year were $2.6 million, helping the company accumulate $2 million cash in the bank
While the company is still in a loss-making position, sales are accelerating with full year revenue the previous year of $766,000.
Spectur’s hardware is powered by its communications software which allows clients to view remote cameras via an app and take appropriate action in real-time.
The system itself automatically responds to intruders, for instance by illuminating a site if it detects an intruder and alerting the owner.
The company’s customers include the Defence Department, John Holland, LendLease and Stockland.
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