Spectur Ltd. (SP3) AI Stock Analysis

• Market Cap: AU$6.64M
• Dividend Yield: N/A
• Average Volume (3M): 233.51K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• 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: 414,733,340
• 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: 38 Underperform
• Price Target: AU$0.02 ▼(-50.00% Downside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is driven down primarily by weak financial performance (loss-making with very high leverage and negative ROE) and a very bearish technical picture (price below key moving averages with negative MACD and extremely low RSI). Valuation provides limited offset because the negative P/E reflects ongoing losses and there is no dividend yield support.

Positive Factors

Recurring SaaS revenue model

A subscription/contract-based SaaS model creates durable, predictable revenue and higher customer lifetime value versus one-time hardware sales. Over 2-6 months this supports recurring cash inflows, easier forecasting, and potential upsell of services, improving long-term revenue visibility.

Differentiated solar-powered systems

Proprietary solar-powered, self-contained units target remote and temporary deployments where wired alternatives are impractical. This structural product fit creates competitive differentiation, higher barriers to substitution, and steady demand from infrastructure and government customers over multiple quarters.

Improving margins and operating cash

Higher gross margins and a shift to positive operating cash flow indicate improving unit economics and better working capital control. If sustained, these trends can fund growth initiatives, reduce reliance on external financing, and support longer-term path to profitability over the next several quarters.

Negative Factors

Very high leverage

An elevated debt-to-equity ratio signals heavy reliance on debt funding, increasing fixed obligations and refinancing risk. Over months this constrains strategic flexibility, magnifies cash flow stress if revenue falters, and raises the chance of covenant pressure or costly capital raises.

Persistent unprofitability

Ongoing negative EBIT and net margins show the business has not yet converted revenue into sustainable profits. Without durable margin expansion, losses can erode equity, limit reinvestment capacity, and prolong dependency on external funding across multiple quarters.

Weak free cash flow

Low and declining free cash flow means limited internal funding for capex, deployments or scaling. Even with operating cash improvement, constrained free cash flow raises financing needs, increasing dilution or debt reliance and limiting the firm's ability to capitalize on market opportunities over the medium term.

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 makes money primarily by providing security surveillance as a recurring service rather than only selling hardware. Its revenue model is typically built around ongoing subscription/contract fees for access to its platform and services, which can include the deployment of solar-powered surveillance units, connectivity, software, and monitoring/maintenance support over the contract term. The company may also earn revenue from upfront or one-off charges associated with supplying, installing, or configuring camera systems and related equipment, and from upgrades or add-on services (e.g., additional cameras/sensors, higher service levels, or extended monitoring). Specific customer-by-customer contract structures, pricing, and material partnerships are not available in the provided prompt; null.

Spectur Ltd. Financial Statement Overview

Summary

Financials are weak overall: income statement shows slightly higher revenue and improved gross margin, but net income and EBIT margins remain negative. The balance sheet is a major risk with very high leverage (debt-to-equity 7.38) and negative ROE, while cash flow has turned positive in operations but free cash flow remains low/declining.

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	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	8.20M	8.71M	8.19M	7.37M	5.83M	5.25M
Gross Profit	2.89M	5.02M	4.02M	-996.44K	-554.26K	-750.96K
EBITDA	-1.15M	-1.18M	-2.68M	-2.81M	-1.56M	-1.50M
Net Income	-816.46K	-779.00K	-2.58M	-2.92M	-1.91M	-1.76M
Balance Sheet
Total Assets	6.37M	4.44M	4.56M	5.59M	3.61M	4.81M
Cash, Cash Equivalents and Short-Term Investments	2.44M	1.08M	764.89K	1.52M	629.61K	1.69M
Total Debt	634.01K	767.15K	836.21K	1.55M	1.05M	388.28K
Total Liabilities	4.20M	4.34M	4.49M	3.86M	2.96M	2.37M
Stockholders Equity	2.17M	103.89K	79.22K	1.73M	643.36K	2.44M
Cash Flow
Free Cash Flow	-467.91K	20.51K	-405.46K	-1.44M	-1.60M	-1.25M
Operating Cash Flow	-229.49K	291.55K	-192.44K	-1.27M	-1.28M	-963.80K
Investing Cash Flow	-253.42K	-271.04K	-213.02K	-795.80K	-314.67K	-298.95K
Financing Cash Flow	2.16M	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: Negative
• 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 above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and above the 200-day MA of 0.02, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 52.94 is Neutral, neither overbought nor oversold. The STOCH value of 116.67 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	48 Neutral	AU$13.97M	-4.31	-36.07%	―	4.84%	-12.12%
MSG	45 Neutral	AU$990.50K	-1.84	17.10%	―	―	51.22%
DTI	43 Neutral	AU$8.94M	-69.01	-19.88%	―	11.15%	26.53%
TZL	43 Neutral	AU$9.53M	-1.67	75.79%	―	-25.22%	-3400.00%
SP3	38 Underperform	AU$6.64M	-14.21	-71.80%	―	6.37%	76.58%
SCT	36 Underperform	AU$1.63M	-2.77	58.28%	―	-12.49%	51.70%

Spectur Ltd. Corporate Events

Spectur issues 650,000 shares on employee rights conversion and lodges cleansing notice

Spectur Limited has issued 650,000 fully paid ordinary shares following the conversion of vested employee rights, expanding its share base through an employee incentive mechanism. The company has confirmed compliance with key Corporations Act disclosure and reporting requirements and stated it holds no undisclosed material information, enabling the new shares to be freely traded under the relevant on-sale exemptions, which may marginally increase market liquidity for existing and new investors.

The cleansing notice reinforces Spectur’s adherence to continuous disclosure obligations, which is important for market confidence in a smaller ASX-listed technology issuer. For stakeholders, the move signals ongoing use of equity-based remuneration to retain and incentivise staff while maintaining regulatory transparency in its capital management activities.

The most recent analyst rating on (AU:SP3) stock is a Sell with a A$0.02 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 650,000 New Ordinary Shares

Spectur Limited has lodged an application with the ASX for quotation of 650,000 ordinary fully paid shares, to be issued on 9 March 2026. The move modestly increases the company’s listed share base and reflects ongoing use of equity issuance mechanisms such as option exercises or other convertible securities to support its capital structure and market presence.

The most recent analyst rating on (AU:SP3) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

Spectur Posts Lower Half-Year Revenue and Wider Loss

Spectur Ltd reported a decline in revenue for the half year ended 31 December 2025, with sales from ordinary activities falling 11% to $3.95 million compared with the prior corresponding period. The company posted a slightly larger after-tax loss of $194,000, versus a $157,000 loss a year earlier, and did not declare or pay any dividends.

Net tangible asset backing stood at 0.43 cents per share, underscoring a relatively modest asset base as the business continues to operate at a loss. There were no changes in controlled entities during the period, indicating Spectur is focusing on managing its existing operations rather than pursuing acquisitions or divestments at this stage.

The most recent analyst rating on (AU:SP3) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Spectur Ltd. stock, see the AU:SP3 Stock Forecast page.

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.