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- Security company Spectur (SP3) has continued its bounce-back after the pandemic downturn, with consistent growth in rentals and sales since July
- The company has taken a strategic turn in recent months to move away from one-off sales and instead increase its higher-margin rental contracts
- Spectur’s November deployed fleet of 325 systems is almost back on par with the 329 systems on deployment in March when the pandemic hit
- The company is also continuing work on its suite of security solutions to offer better, more robust and more versatile systems to the market
- Spectur is continuing to evolve its security tech, with upgrades to AI, streaming, audio and app functionality in the pipeline
- The company anticipates continued growth as the building and construction sectors go back to work — with an according increase in building-related crime driving demand
- Spectur closed Tuesday’s session 7 per cent lower at 9.3 cents
Spectur (SP3) has continued its bounceback after the pandemic downturn, with consistent growth in rentals and sales since July.
Shifting revenues
The company has taken a strategic turn in recent months to move away from one-off sales and instead increase its higher-margin rental contracts.
Spectur’s November-deployed fleet of 325 systems is almost back on par with the 329 systems on deployment in March when the pandemic hit.
The company anticipates this will continue to grow as the building and construction sectors go back to work — with an increase in building-related crime to drive demand for crime prevention solutions.
Spectur Managing Director Gerard Dyson says the company has been buoyed by the bounce-back.
“The ongoing recovery of the rental fleet, in both size and revenues, to the levels that existed when COVID-19 first impacted us in Australia is very encouraging,” Gerard said.
“We expect the average revenue per system to also increase over time. We also expect our new long-term leasing or lease-to-own model, to roll out in January 2021,” he said.
“This additional commercial model, which allows more customers to access Spectur solutions, is expected to further resonate with the trend away from larger up-front capital expenditure and provide incremental revenue growth,” he added.
Improving tech
Spectur is also continuing work on its suite of security solutions to offer better, more robust and more versatile systems to the market.
The company’s new STA6 security system has already proven successful in both rental and sales markets.
With upgrades to system AI, audio, streaming and coverage capabilities, the STA6 will be rolling out as an intelligent, flexible and energy-efficient product in 2021.
After engaging with customer feedback, the company will also improve sensing applications, make further improvements to its AI capabilities, and improve app functionality.
Gerard Dyson is bullish about Spectur’s place in the security landscape.
“In July we made a number of statements around improved functionality, applications and growth in Spectur’s products and market position,” Gerard said.
“Spectur is getting the job done. We are on the cusp of moving from providing a superior product in the market, to differentiating through leveraging our growing sensing and AI capabilities to solve customer problems that competitors simply cannot,” he said.
With improved tech and a market ready to gather speed, Spectur is well placed to capitalise the pandemic bounceback.
“These technology advances, combined with our strengthening sales and marketing capabilities, provide the foundation for growth in revenue,” Gerard said.
“Our strategy to provide new solutions to old problems is allowing us to acquire market share while also opening new markets, providing for a favourable growth outlook,” he added.
Spectur closed Tuesday’s session 7 per cent lower at 9.3 cents.
