Spectur Ltd. (SP3) AI Stock Analysis

• Market Cap: AU$10.74M
• Dividend Yield: N/A
• Average Volume (3M): 233.51K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.69
• Revenue Growth: 6.37%
• EPS Growth: 76.58%
• Country: AU
• Employees: 26
• Sector: Industrials
• Sector Strength: 72
• Industry: Security & Protection Services
• EPS (TTM): >-0.01
• Shares Outstanding: 413,187,070
• 10 Day Avg. Volume: 196,438
• 30 Day Avg. Volume: 233,512
• PEG Ratio: 0.06
• Price to Book (P/B): 34.65
• Price to Sales (P/S): 0.41
• P/FCF Ratio: 175.49
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: AU$0.03 ▼(-13.33% Downside)

Spectur Ltd.'s overall stock score is primarily impacted by its weak financial performance, characterized by high leverage and negative profitability. Technical analysis provides some positive signals with the stock trading above key moving averages, but lacks strong momentum. Valuation remains unattractive due to negative earnings and the absence of dividends.

Positive Factors

Recurring SaaS-based revenue model

A subscription/contract-based SaaS model creates recurring revenue and higher customer stickiness versus one-time hardware sales. For surveillance and critical-infrastructure customers, multi-year contracts and services foster predictable cash flows, upsell potential, and scalable unit economics over months to years.

Improving gross margins and revenue growth

An elevated gross margin (57.65%) alongside positive revenue growth signals better cost management on core products and services. Sustained high gross margins in a SaaS-plus-hardware model provide room to invest in sales and R&D while preserving the path to operating leverage as recurring revenue scales over the next several quarters.

Operating cash flow turned positive

Positive operating cash flow indicates the core business is starting to generate cash from operations, reducing immediate reliance on external funding. If maintained, positive OCF supports working capital, service expansion and debt servicing, improving financial resilience over the medium term.

Negative Factors

High leverage

A debt-to-equity ratio of 7.38 shows heavy reliance on debt financing, which constrains strategic flexibility. High leverage increases interest burden and refinancing risk, limiting the company's ability to invest in growth or weather demand shocks without dilutive equity raises or costly refinancing over the coming months.

Persistent negative profitability

Ongoing negative net income and a negative ROE indicate the company has not yet converted revenue growth into shareholder returns. Continued losses erode equity and reduce internal funding for expansion, making sustained profitability a prerequisite for long-term viability and reducing leeway for strategic initiatives.

Weak free cash flow

Low and declining free cash flow limits the firm's ability to fund capital expenditure, reduce debt, or pursue inorganic growth without external financing. Persistent negative FCF growth increases dependence on lenders or equity issuance, amplifying dilution risk and undermining long-term financial stability.

Spectur Ltd. Business Overview & Revenue Model

Company Description

Spectur Limited designs, develops, manufactures, and sells solar remote sensing, thinking, and acting solutions in Australia. The company offers wireless camera systems, including STA6, a solar camera system for monitoring critical sites, deterring and warning danger, and building custom sensing solutions; HD5, a camera system for security, surveillance, time-lapse capture, and safety and warning; SWC5, a camera system for beach management, shark warnings, and smart city applications; and mobile surveillance accessories, including trailers and bases, solar-powered lighting, sensors, and smart devices. The company's products are used in Engineering, construction and building, government, and utility sectors. Spectur Limited was incorporated in 2009 and is based in Welshpool, Australia.

How the Company Makes Money

Spectur Ltd. generates revenue through multiple streams, primarily by selling its hardware products and providing subscription-based monitoring services. The company charges clients for the installation of its surveillance equipment, followed by recurring fees for access to its cloud-based monitoring platform. Additionally, Spectur has formed strategic partnerships with various industry players, enhancing its market reach and driving sales. The company may also benefit from government contracts and grants aimed at improving public safety and security, which contribute to its overall earnings.

Spectur Ltd. Financial Statement Overview

Summary

Spectur Ltd. faces significant financial challenges, with ongoing profitability issues and high leverage. While there are signs of revenue growth and improved gross margins, the company struggles with negative net income and cash flow constraints. The high debt levels and negative return on equity highlight financial risks that need to be addressed for sustainable growth.

Income Statement

Spectur Ltd. has shown some improvement in revenue growth with a 2.57% increase in the latest year. However, profitability remains a concern with negative net profit margins and EBIT margins, indicating ongoing operational challenges. The gross profit margin has improved to 57.65%, suggesting better cost management, but the overall negative margins highlight persistent profitability issues.

Balance Sheet

The company's balance sheet reveals high leverage with a debt-to-equity ratio of 7.38, indicating significant reliance on debt financing. Return on equity is negative, reflecting losses and poor returns for shareholders. The equity ratio is low, suggesting limited equity buffer against liabilities, which poses financial stability risks.

Cash Flow

Spectur Ltd. has shown improvement in operating cash flow, turning positive this year. However, free cash flow remains low, and the free cash flow growth rate is negative, indicating cash flow challenges. The operating cash flow to net income ratio is low, suggesting limited cash generation relative to net income.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	8.71M	8.71M	8.19M	7.37M	5.83M	5.25M
Gross Profit	5.02M	5.02M	4.02M	-996.44K	-554.26K	-750.96K
EBITDA	-1.18M	-1.18M	-2.68M	-2.81M	-1.56M	-1.50M
Net Income	-779.00K	-779.00K	-2.58M	-2.92M	-1.91M	-1.76M
Balance Sheet
Total Assets	4.44M	4.44M	4.56M	5.59M	3.61M	4.81M
Cash, Cash Equivalents and Short-Term Investments	1.08M	1.08M	764.89K	1.52M	629.61K	1.69M
Total Debt	767.15K	767.15K	836.21K	1.55M	1.05M	388.28K
Total Liabilities	4.34M	4.34M	4.49M	3.86M	2.96M	2.37M
Stockholders Equity	103.89K	103.89K	79.22K	1.73M	643.36K	2.44M
Cash Flow
Free Cash Flow	20.51K	20.51K	-405.46K	-1.44M	-1.60M	-1.25M
Operating Cash Flow	291.55K	291.55K	-192.44K	-1.27M	-1.28M	-963.80K
Investing Cash Flow	-271.04K	-271.04K	-213.02K	-795.80K	-314.67K	-298.95K
Financing Cash Flow	398.93K	294.63K	-351.74K	2.96M	539.29K	1.32M

Spectur Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.03
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SP3, the sentiment is Negative. The current price of 0.03 is below the 20-day moving average (MA) of 0.03, below the 50-day MA of 0.03, and above the 200-day MA of 0.02, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.62 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:SP3.

Spectur Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
AVA	53 Neutral	AU$18.34M	-2.84	-25.77%	―	4.84%	-12.12%
SP3	45 Neutral	AU$10.74M	-10.00	-850.83%	―	6.37%	76.58%
DTI	45 Neutral	AU$11.62M	-3.61	-39.15%	―	11.15%	26.53%
MSG	45 Neutral	AU$1.39M	-5.50	-61.10%	―	―	51.22%
TZL	43 Neutral	AU$13.10M	-3.33	―	―	-25.22%	-3400.00%
SCT	36 Underperform	AU$1.63M	-0.72	―	―	-12.49%	51.70%

Spectur Ltd. Corporate Events

Spectur Lifts Quarterly Revenue and Tightens Costs Amid Seasonal Security Demand

Spectur Limited reported group revenue of $2.02 million for the second quarter of FY26, a 4.5% increase on the prior quarter, with recurring revenue at $1.446 million and performance aligned with seasonal patterns in the security and surveillance sector. Despite negative operating cash flow of $2.174 million driven mainly by timing differences in customer receipts, the company improved cost controls, reduced manufacturing, R&D, and administrative expenses, completed a $2.148 million share placement, and ended the quarter with $2.446 million in cash reserves, reinforcing its liquidity and operational resilience.

The most recent analyst rating on (AU:SP3) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

Spectur Boosts Cash Reserves Through Equity Raise Despite Operating Outflows

Spectur Limited reported customer receipts of A$1.9 million for the quarter ended 31 December 2025, but recorded a net operating cash outflow of A$260,000, reflecting ongoing spending on manufacturing, staff, marketing and administration. The company invested A$177,000 in property, plant and equipment during the quarter and strengthened its balance sheet with A$2.3 million raised from an equity issue, resulting in a net cash inflow from financing of A$2.1 million and lifting total cash by A$772,000 over the period, underscoring continued reliance on external capital to support operations and growth initiatives.

The most recent analyst rating on (AU:SP3) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

Spectur Seeks ASX Quotation for 8.65 Million New Shares

Spectur Limited has applied to the ASX for quotation of 8,650,000 ordinary fully paid shares issued under an employee incentive scheme. The new securities, which are not subject to transfer restrictions for quotation purposes, are scheduled to be quoted from 19 January 2026, modestly expanding the company’s free float and signalling ongoing use of equity-based remuneration to align employees with shareholder interests.

The most recent analyst rating on (AU:SP3) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

Spectur Ltd. Announces Director’s Share Acquisition as Compensation

Spectur Limited announced a change in the director’s interest, with Marco Correia da Silva acquiring 1,861,916 fully paid ordinary shares. These shares were issued as remuneration in lieu of cash for director fees, reflecting a strategic decision to align compensation with company equity, which may impact stakeholder perceptions and the company’s financial management.

The most recent analyst rating on (AU:SP3) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

Spectur Ltd. Announces Director’s Share Acquisition as Compensation

Spectur Limited announced a change in the director’s interest, where Darren John Cooper received 3,491,095 fully paid ordinary shares as remuneration in lieu of cash for his services from October 2024 to September 2025. This adjustment reflects a strategic move to align director compensation with company performance, potentially impacting shareholder perceptions and the company’s financial strategies.

The most recent analyst rating on (AU:SP3) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

Spectur Limited Issues Shares to Optimize Financial Structure

Spectur Limited has announced the issuance of 10,970,279 fully paid ordinary shares to directors and employees, replacing cash consideration and converting performance rights. This move, facilitated under the Corporations Act 2001, allows the shares to be sold without disclosure, aligning with regulatory exemptions. This strategic decision reflects Spectur’s commitment to optimizing its financial structure and enhancing stakeholder value, potentially strengthening its market position.

The most recent analyst rating on (AU:SP3) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

Spectur Ltd. Announces Quotation of New Securities

Spectur Ltd. announced the quotation of 5,617,268 ordinary fully paid securities on the Australian Securities Exchange, effective from December 1, 2025. This move is part of the company’s strategy to enhance its market presence and potentially increase its capital base, which may impact its operational capabilities and stakeholder interests positively.

The most recent analyst rating on (AU:SP3) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

Spectur Ltd. Announces Quotation of New Securities on ASX

Spectur Ltd. has announced the quotation of 5,353,011 fully paid ordinary securities on the ASX, effective December 1, 2025. This move is part of previously announced transactions, potentially impacting the company’s market presence and offering stakeholders an opportunity to engage with its growth trajectory.

The most recent analyst rating on (AU:SP3) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

Spectur Ltd. Announces Director Resignation and Shareholding Details

Spectur Ltd. announced the resignation of Gerard John Dyson as a director, effective November 28, 2025. Dyson held an indirect interest in 14,564,604 fully paid ordinary shares through the Dyson Investments 2 Trust. This change in directorship may impact the company’s governance structure and could influence investor perceptions, given Dyson’s significant shareholding.

The most recent analyst rating on (AU:SP3) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

Spectur Limited Appoints Santo Carlini as New Director

Spectur Limited has announced the appointment of Santo Carlini as a director, effective November 10, 2025. Carlini holds significant interests in the company through his directorships and shareholdings in associated entities, SI Corporation Pty Ltd and APPWAM Pty Ltd, totaling over 43 million fully paid ordinary shares. This appointment is expected to strengthen the company’s leadership and potentially influence its strategic direction, given Carlini’s substantial stake and involvement in related entities.

Spectur Ltd Announces Board Changes and Director Elections

Spectur Ltd has announced changes to its Board of Directors, with Mr. Santo Carlini, representing the company’s largest shareholder, joining the board. Mr. Carlini, who has a strong background in security solutions, will stand for election at the upcoming Annual General Meeting. His expertise is expected to enhance Spectur’s strategic growth and operational excellence. Additionally, former Managing Director Dr. Gerard Dyson will not seek re-election due to other commitments, while Board Chair Darren Cooper will retire by rotation but will stand for re-election.