Spenda’s Q2 Cash Receipts Jump 34% as Payment Volumes Hit $227M

Strong Financial Momentum

Spenda Limited (ASX, SPX) has delivered a robust performance in the second quarter of fiscal 2026, reporting a 65% increase in payment volumes to $227 million compared to the same period last year. Cash receipts also climbed 34% quarter-on-quarter to $2.8 million, signalling growing traction in its core revenue streams. This growth comes as the company continues to shift towards predominantly recurring revenue, a key factor for sustainable long-term profitability.

Despite the growth, Spenda maintained a disciplined approach to cost management, implementing a cost rationalisation program that has shaved $320,000 off monthly expenses, equating to annual savings of $3.85 million. This initiative has reduced the company’s monthly cash burn by 21%, allowing Spenda to preserve its existing revenue base while improving operational efficiency.

Leadership and Strategic Direction

Following a period of executive transition, Corrie Hassan has been appointed as Spenda’s permanent CEO after successfully stabilising the business during an interim phase. Under her leadership, the executive team has focused on cost reduction, product enhancement, and commercialising the existing product suite to build a scalable foundation.

The board has also been strengthened with the appointment of Karim Razak, while Francis De Souza retired from his executive and board roles. These changes reflect a strategic refresh aimed at driving growth and governance excellence.

Product Innovation and Market Expansion

Spenda unveiled a simplified 3 Pillar Product Strategy, officially launching in February 2026, which includes Spenda Ledger, Spenda Pay, and Spenda Retail. Each pillar targets distinct market segments with embedded payments, enhanced invoicing, and retail workflow solutions respectively.

Notably, the partnership with APG Pay has gained momentum, with the APG Pay platform processing $50 million in payments during the quarter, primarily servicing corporate travel customers across Australia, New Zealand, Hong Kong, and Singapore. The companies are working towards a Master Services Agreement expected to further boost recurring income.

Meanwhile, Swift Statement, part of Spenda Pay, has undergone significant upgrades including AI-powered invoice capture and full accounts payable functionality, positioning it as a comprehensive business solution. Although adoption among Capricorn members is gradual, marketing efforts are set to resume to accelerate growth.

On the retail front, Spenda is actively rolling out its platform across Carpet Court stores nationwide, with staged implementations planned throughout 2026 and a promising pipeline of new store engagements.

Outlook and Financial Position

Spenda ended the quarter with $1.5 million in cash and cash equivalents and expects a $2.5 million R&D refund in the coming quarter, which should bolster its liquidity. The company remains focused on scaling recurring income streams, driving operational efficiencies, and achieving sustainable positive cash flow.

CEO Corrie Hassan emphasised the company’s commitment to operational discipline and revenue growth, stating that the simplified business model and cost controls are positioning Spenda for accelerated progress towards its 2026 goals.