Why the Spacetalk (ASX:SPA) share price is soaring 6% today

The Spacetalk Ltd (ASX: SPA) share price is shooting higher today following the release of its quarterly business update.

At the time of writing, the technology company’s shares are fetching 17 cents apiece, up 6.25%.

How did Spacetalk perform in Q3?

Spacetalk shares are lifting off today after the company provided investors with a robust trading update.

For the quarter ending 31 March (Q3), Spacetalk delivered record revenue of $3.9 million, reflecting year-on-year (YoY) growth of 110%. The result was also underpinned by a particularly strong Christmas sales period as COVID-19 restrictions eased.

Spacetalk’s channel partners placed a record number of orders to ensure enough stock was available for customers. Most notably,…