- Zimi (ZMM) reports first revenue of $1.7 million following delivery of 30,000 device orders
- So far, the company has pocketed just over $400k in deposits from customers GSM-Electrical, Steel Line Garage Doors and Beacon Lighting
- The majority of revenue is expected in Q1 and Q2 of the current financial year
- Zimi and Beacon Lighting have partnered on a $100k co-marketing campaign
- Shares are trading 11.8 per cent higher at 1.9 cents at 3:23 pm AEST
Zimi (ZMM) has reported first revenue of $1.7 million following the delivery of 30,000 device orders.
The company, which formerly traded on the ASX-200 as Quantify Technology under ticker code QFY, specialises in providing internet connectivity to everyday electrical products to create smart living and work spaces.
So far, Zimi has pocketed deposits of just over $400,000 through purchase orders from GSM-Electrical, Steel Line Garage Doors and fellow ASX-lister Beacon Lighting Group (ASX:BLX).
Notably, ZMM has brought forward its component purchases to ensure supply.
The company expects to see the majority of revenue in the first and second quarters of the current financial year, with the delivery of its Steel Line order anticipated later in the third quarter.
Meanwhile, Zimi and Beacon Lighting have agreed to invest equal parts in a $100,000 co-marketing campaign.
As part of the deal, marketing activities will include the creation of content tailored specifically around a renovation show, using social media and influencer marketing, in addition to in-store promotion and events.
The campaign will run until July next year.
Zimi shares were trading 11.8 per cent higher at 1.9 cents at 3:23 pm AEST.