Orders from Spectra Systems' new K-cup customer rolling in

Banknote authentication, brand protection and gaming security company Spectra Systems announced on Monday that its newest customer, using its optical materials in ‘K-cup’ single-serve coffee products for Keurig machines, had already placed three orders.

The AIM-traded firm said the three orders totalled $0.39m since September.

It said the orders from the new customer were already 93% of the expected 2021 revenues from the product, and 46% higher than total orders in 2020.

“We are very pleased to have received such large orders for our optical materials from our newest K-cup printing customer,” said chief executive officer Nabil Lawandy.

“Based on this order pattern, we expect that this new customer, along with the existing customer, will result in over $1m of high-margin revenue in 2022.”

At 1107 GMT, shares in Spectra Systems Corporation were up 5.16% at 163p.