Spacetalk develops all-in-one smartphone watch and GPS tracker to help keep seniors safe

Spacetalk Ltd (ASX:SPA) has developed an all-in-one smartphone watch and GPS tracker that connects wearers with their families at the push of a button. Developed to keep senior citizens safe during COVID-19, the 4G smartphone watch called Spacetalk LIFE incorporates two innovations that work in tandem. Safety call-back The first is 'safety call back', which initiates a return call when a senior is unable to answer due to a fall or other mishap. Safety call back enables an approved contact to use an app to initiate a voice call from the device to check on a senior’s well being. The device alerts the wearer that a call is about to be made with the option to cancel the call. Otherwise, a connection is made and the safety of the wearer can be established. Location by request The second innovation is 'location by request' to deal with emergencies, enabling approved contacts to instantly track and pinpoint their senior. If the wearer wishes to retain privacy, a request can be rejected from the device. Wearers have ultimate control over who can see their location. Partnership with aged care organisation The popularity of Spacetalk LIFE has led to a partnership between the company Spacetalk and one of Australia’s leading aged care organisations ACH Group. ACH employs more than 1,800 staff and supports more than 20,000 older people in South Australia and Victoria, whether they live at home or in residential care. Spacetalk LIFE’s potential to support the journey of ageing – enhancing independence, healthy living, social connectivity and safety – provides reassurance and peace of mind to family and friends. The company has attracted significant interest from aged care and home care providers, NDIS providers and occupational therapists. Filling “gap in the market” ACH Group chief executive officer Frank Weits said: “ACH Group recognised that LIFE could fill a gap in the market. “Together, with its newly incorporated suggested improvements, we believe this high quality, stylish smartphone-watch will offer peace of mind to older people. LIFE can increase an older person’s confidence and their safety while supporting independence, healthy living and social connections.” “New BSB2C distribution channel” Spacetalk chief executive Mark Fortunatow said: “Our commercial arrangement with ACH Group to sell the device and the accompanying Spacetalk app opens an exciting new B2B2C distribution channel for LIFE and broadens its market reach.” Earlier this month the company won the coveted international Red Dot Design Award, one of the world’s largest global design competitions, for outstanding product design in 2021. Record quarterly revenue During the March quarter, Spacetalk reported record group revenue of $3.9 million, up 110% on the prior corresponding period. Record wearables revenue of $3.2 million in the quarter represented a 241% increase on the corresponding quarter of 2020 while device sales were up 354%, the company’s highest-ever quarter, to $2.6 million. Annualised recurring revenue from Spacetalk app monthly subscriptions grew 72% to $2.7 million and app revenue grew by 70% in the quarter to $600,000. Spacetalk reported a healthy gross profit margin of 69% while the company had $4.9 million in the bank on March 31, 2021.