- Spacetalk’s (SPA) shares are up today after recording its best ever yearly revenue of $15.1 million, which marks a 44 per cent increase from FY20
- Australian and New Zealand sales also grew by 85 per cent to $9.1 million, however UK sales remained flat at $1.5 million due to COVID-19 lockdowns
- Additionally, sales benefitted from more than one Spacetalk device for the first time in the company’s history after launching a smartwatch in December 2020
- In just six months, the smartwatch, called “Spacetalk Adventure” accounted for 41 per cent of device sales revenue
- Spacetalk’s shares are up 15.2 per cent, trading at 19 cents cents
Spacetalk’s (SPA) shares are up today after recording its best ever yearly revenue.
For FY21, the smartwatch company reported a record revenue of $15.1 million, which marks a 44 per cent year-on-year (YoY) increase.
Earnings before interest, taxes, depreciation, and amortisation also increased by a significant 615 per cent to $1.1 million YoY.
Australian and New Zealand sales grew by 85 per cent to $9.1 million, while UK sales remained flat at $1.5 million, due to COVID-19 lockdowns.
For the first time in the company’s history, sales benefitted from more than one Spacetalk device, as well as from demand from existing and new channel partners in Australia and New Zealand.
In December, SPA launched its Spacetalk Adventurer smartwatch, which is a next-generation 4G smartphone watch and GPS device aimed at children aged between five and 12.
Notably, in just six months, Spacetalk Adventure accounted for 41 per cent of device sales revenue.
Spacetalk’s shares were up 15.2 per cent, trading at 19 cents per share at 1:57 pm AEST.