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Family Zone (ASX:FZO) - Managing Director, Tim Levy
Managing Director, Tim Levy
Sourced: Stockhead
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  • Family Zone Cyber Safety (FZO) has announced its U.S. sales team has achieved A$2 million in annual contracted revenue this month
  • The company has built a strong reputation in the U.S. as a trusted provider of cyber safe solutions to encourage safe online usage for children
  • Importantly, the outbreak of Covid-19 has led U.S.-based school districts to consider flexible learning from home
  • Family Zone has put its Classwize tool forward, which enables teachers to manage large virtual classes
  • The company is offering Classwize to affected schools at no cost and will promote it with its partner, Google For Education
  • Family Zone’s shares have soared 35.3 per cent and is trading for 11.5 cents each

Family Zone Cyber Safety (FZO) has announced its U.S. sales team has achieved A$2 million of annual contracted revenue this month.

The company credits the recent revenue growth to the addition of five experienced educations sales professionals.

As Family Zone has developed a strong reputation in the U.S. education market, schools see the worth in entering into multi-year service agreements with cash paid up front.

These arrangements now account for over 35 per cent of deals signed. The company expects this to gradually increase to over 50 per ccent.

Family Zone offers a patented cyber safety ecosystem which enables digital collaboration between schools, parents and cyber safety educators.

According to the company, 59 per cent of teenagers have experienced cyber bullying, 6 out of 10 parents think their children spend too much on time and 80 per cent of teenagers have admitted to being on their phones at night when they’re parents think they are asleep.

Essentially, Family Zone recognises that technology is a big part of children and teenagers’ lives but encourages a responsible and safe approach.

Its cyber safety platform offers parental controls, tracks all devices, sets bed and study times, manages in-app purchases, blocks adult content, and more.

Covid-19

Family Zone has assured investors that it does not expect to be impacted by the Covid-10 virus. Roughly 87.5 per cent of its income comes from governments and schools, all of whom have legal obligations to keep students safe.

But, school has been interrupted and some have temporarily closes which has led to U.S. school districts to consider flexible learning from home.

Family Zone supports this idea and thinks its Classwize tool can be utilised.

Classwize supports Chromebooks, Windows and Apple Macbooks and allows teachers to seamlessly manage large, virtual classes.

“We’re proud to advise the market that in support of schools dealing with COVID-19, we recently announced that Classwize is available at no cost for affected schools,” Family Zone stated in today’s announcement.

The company believes recent events will offer it a compelling market advantage and will promote its technology with its partner, Google For Education.

Family Zone’s shares have soared 35.3 per cent after today’s news and is trading for 11.5 cents each at 11:13 am AEDT.

FZO by the numbers
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