• Received $877k R&D tax incentive refund, a 104% increase from prior year
• Refund will support inventory purchases and working capital requirements
• Continued focus on innovation and product development

Spacetalk Ltd (ASX: SPA) has announced that it has received an R&D tax incentive cash refund of $877k for the year ended 30 June 2025. This refund represents a 104% increase compared to the prior year's refund of $429k, reflecting the company's continued investment in R&D activities focused on the transition from a hardware-centric business to a family-centric software business. During the year, the company replaced its legacy infrastructure with a new technology stack, which enabled the development of a new app to be launched in 2QFY26. The app will be the centre of Spacetalk's ecosystem, with significantly richer features that will enhance customer experience. Spacetalk's CEO and Managing Director, Simon Crowther, commented that the R&D Tax Incentive refund provides non-dilutive funding that will be used to support inventory purchases and to underpin working capital requirements for the key trading period ahead. He also noted that Spacetalk continues to demonstrate strong progress in achieving its strategy of creating a recurring revenue model, with Annual Recurring Revenue (ARR) growing by 20% in 1QFY26 compared to the prior corresponding period.

In 1QFY26, Spacetalk grew Annual Recurring Revenue (ARR) by 20% vs PCP to $11.8m (1QFY25: $9.8m).