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Family Zone (ASX:FZO) - Managing Director, Tim Levy - The Market Herald
Managing Director, Tim Levy
Source: Business News
  • Cybersecurity company Family zone (FZO) has enjoyed its biggest sales quarter on record
  • The company grew its contract sales fivefold in the year-over-year (YoY) statistics
  • Nearly 600 schools and over 350,000 students joined the Family Zone platform over the June quarter
  • Significantly, just over 80 per cent of schools and just under 60 per cent of student joined on a contract — leading to the 500 per cent YoY annual contract sales boost
  • Family Zone attributes the strong growth to seasonal activity — historically, the June quarter is the largest for education sales in the U.S.
  • And the company maintains the activity recorded in June will set it up for another strong September quarter
  • Despite the announcement, investors seem to have shied away from FZO today
  • The company closed down 1.75 per cent on Monday, last trading for 28 cents per share

Cybersecurity company Family zone (FZO) has enjoyed its biggest sales quarter on record, growing contract sales fivefold in the year-over-year (YoY) statistics.

The ASX-lister offers cyber safety management software to families and schools who want to restrict and monitor internet usage. FZO's cybersecurity platform helps teachers and parents collaborate to create cyber safety solutions for students.

Nearly 600 schools and over 350,000 students joined the Family Zone platform over the June quarter.

Significantly, just over 80 per cent of schools and just under 60 per cent of student joined on a contract.

That netted the company over $2 million in annual contract value over the quarter – representing a staggering 500 per cent increase in the year-over-year statistics. Even more significantly, those new contracts represent $3.63 million in total contract value.

Family Zone's new clients have also boosted its total user base; now, just under 2500 schools are live on the company's platform. That's a 165 per cent jump YoY.

Additionally, FZO has attracted 1.3 million students to its platform, indicating a 173 per cent spike in the YoY stats. 910,000 of these are licenced.

Family Zone attributes the strong growth to seasonal activity — historically, the June quarter is the largest for education sales in the U.S.

The company maintains the activity recorded in June will set it up for another strong September quarter.

Despite the announcement, investors seem to have shied away from FZO today. The company closed down 1.75 per cent on Monday, last trading for 28 cents per share.


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