- $37.9mn multi-year contract award
- $1.7mn follow-on tranche later this year
- EPS upgraded 20 per cent (2024) and 82 per cent (2025)
Aim-traded Spectra Systems (SPSY:260p), a leader in banknote authentication, brand protection technologies, security printing and gaming security software, has announced a game-changing sensor manufacturing contract with an existing central bank client for its third generation of security detection technology.
The bulk of revenue from the long-awaited contract is expected to be received between 2025 and 2027 with a trailing manufacturing contract worth $4.5mn per year thereafter until 2029. Spectra provided the bank with its first set of sensors, to be incorporated into cash sorting machines for the detection of counterfeit bank notes, in early 2000. A second-generation Spectra sensor was deployed between 2013 and 2015, along with additional quality control equipment. Work on the third-generation sensor commenced a few years ago, with the central bank funding $14.8mn of Spectra’s development costs.