SPACETALK LTD — Annual Report 2025

Aug 28, 2025

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ASX Announcement | 29 August 2025

Spacetalk Ltd (ASX: SPA)

Spacetalk delivers 25% growth in recurring revenues and strengthens balance sheet in transformative FY25

Spacetalk Ltd (ASX: SPA) ("Spacetalk" or "the Company") is pleased to provide its audited results for the full year ended 30 June 2025 ( FY25”).

KEY PERFORMANCE HIGHLIGHTS

• Annual recurring revenue (ARR) : $12.1m in FY25, up 25% on FY24.

• Paid mobile subscribers : Increased 44% year-on-year to 44.4k.

• Revenue from continuing operations : $19.6m, up 12% from $17.5m in FY24.

• Gross profit : $9.7m, with margins improving slightly by 1ppts to 50%.

• Operating expenses : Decreased 11% to $12.5m from $14.0m in FY24, reflecting impact of cost optimisation initiatives.

• Adjusted EBITDA[1] : improved by 57% to ($1.9m) from ($4.4m) in FY24.

• Cash at period end : $1.1m.

CEO Statement

Commenting on the results, Spacetalk s CEO and Managing Director Simon Crowther said:

FY25 was genuinely transformative for Spacetalk. We successfully reset and refocused the business. In the year ahead, we will focus on further ramping sales, geographic growth, and new hardware and software products.

“We delivered double-digit revenue growth, sharply reduced costs, and moved substantially closer to breakeven, driven by strong subscription growth and disciplined cost management. Our capital-light approach is accelerating our international expansion by leveraging digital channels, particularly Shopify and Amazon.

“We successfully restructured our debt to give ourselves a strong platform to pursue growth and innovation, benefitting both our customers and shareholders. Our lender, Pure Asset Management ( Pure”), agreed to convert $1m in secured debt for 1,000,000

1 Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortisation (“EBITDA”), and excludes fair value of derivatives, share based payments and costs related to debt restructuring.

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Converting Notes. Afterwards, the debt facility balance would be $3.6m. Pure also committed to suspend of all capital repayments for the remainder of the 2025 calendar year and to extend the maturity date of the remaining loan facility by three months to 30 June 2027.

“In the year ahead, we expect to further drive subscriptions and platform engagement with a major upgrade to our mobile app, plus the development of next-gen kids and seniors wearables. We remain focused on our path to $20–25M ARR in 2026. The team remains committed to building sustainable shareholder value.”

FY25 Financial Summary

Item	FY25 $m	FY24 $m	%
Revenue from continuing operations	$19.6	$17.5	12%
Gross profit	$9.7	$8.6	13%
Operating expenses	$12.5	$14.0	(11%)
Adjusted EBITDA	($1.9)	($4.3)	56%
Net loss after tax	($4.5)	($6.2)	(27%)
Cash balance (period end)	$1.1	$1.8	(39%)

In FY25, the Company delivered solid progress across its financial and operational metrics.

Revenue from continuing operations rose 12% to $19.6m (FY24: $17.5m), supported by subscriber growth and stable device sales.

Gross profit reached $9.7m, with margins improving slightly by 1ppts to 50%, demonstrating the Company s ability to scale without sacrificing profitability.

Annual Recurring Revenue (ARR) grew 25% to $12.1m, driven by strong growth in mobile subscribers.

Paid mobile subscribers increased 44% year-on-year to 44.4k, highlighting strong uptake of our mobile-first strategy and the benefits of bundling initiatives that drive higher ARPU and deeper customer engagement.

Operating expenses reduced by 11% to $12.5m (FY24: $14.0m), with the benefits of cost optimisation initiatives and operational discipline flowing through. As a result, Adjusted EBITDA improved by 57% to $(1.9)m (FY24: $(4.4)m), a significant step towards profitability and evidence of the improving scalability of the business model.

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The Company ended the year with a cash balance of $1.1m.

Funding & Capital Structure

• Debt Facility Restructure: Subsequent to year end, Pure Asset Management ( Pure”) agreed to subscribe for 1,000,000 Converting Notes in conversion of $1m in secured debt currently owing by the Company, which will take immediate effect upon the issue of Converting Notes to Pure. Post conversion, the debt facility balance would be $3.6m. Further, Pure committed to the following additional arrangements in respect of its existing secured loan facility:

• a suspension of all capital repayments for the remainder of the 2025 calendar year; and

• an extension of the maturity date of the remaining loan facility by three months to 30 June 2027.

The release of this announcement has been approved by the Board of Directors of the Company.

Simon Crowther, CEO and Managing Director

To keep up to date with company news and announcements, visit: investorhub.spacetalk.co

For further information or investor enquiries, please contact:

investors@spacetalk.co

www.spacetalk.co

ABOUT SPACETALK LIMITED

Spacetalk Ltd (ASX: SPA, ACN 091 351 530) develops and sells hardware and software to provide safety at every stage of life. Spacetalk offers families a suite of solutions: Australia’s best-selling Kids Smart Watches (GFK Report July 2024: Total Sales of Kids Smartwatch in Australia), Spacetalk Mobile, Spacetalk App, and Adult Wearables. The Spacetalk ecosystem provides freedom with peace of mind. To learn more, please visit: www.spacetalk.co

Spacetalk Ltd, Level 2, 104 Frome St, ADELAIDE, SA, AUSTRALIA, 5000

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