Family Zone (ASX:FZO) posts quarterly records and big year-on-year growth

• Family Zone (FZO) has enjoyed its best-ever quarter, posting record contract values and big year-on-year growth across a number of metrics
• The value of the new contracts set records, both for total value ($1.85 million) and annual value ($930,000)
• The company brought 620 new schools with 308,000 new students to the platform — almost a third of its total enrolments
• The company’s premium parental control accounts also enjoyed a strong surge, with new numbers reflecting a 120 per cent year-on-year growth
• With increasing numbers of online learners amid the COVID-19 crisis, Family Zone is anticipating another strong quarter
• Family Zone shares remain grey so far in today’s session, trading for 16.5 cents per share

Cybersafety provider Family Zone (FZO) has enjoyed its best-ever quarter, posting record contract values and big year-on-year growth across a number of metrics.

Quarterly records

Family Zone posted big wins in the March quarter. The company brought 620 new schools with 308,000 new students to the platform – or almost a third of its total enrolments. That’s an 83 per cent year-on-year rise in schools, and 70 per cent rise in students. The value of the new contracts set records, both for total value ($1.85 million) and annual value ($930,000).

The company’s Premium parental control accounts also had a strong surge, with a total client base of 210,000 consumers reflecting a 120 per cent year-on-year growth.

Family Zone’s freemium service, Insights, also experienced strong growth. The service had a ‘soft launch’ late in 2019, with under 10,000 clients for the quarter. User numbers have now surged to 43,000 with a 60 per cent uptake of paid subscriptions from free services.

What comes next?

It’s a unique time in education tech. The COVID-19 crisis has led millions around the world to try to find education solutions outside traditional classrooms. Family Zone is well-positioned to service a huge emerging and unexpected need for cyber safety as many schools and parents move to remote education models.

Family Zone has been making strides in global markets, but as we come into the new financial year – and the beginning of the northern hemisphere school year – there’s reason to believe the company’s cybersecurity platforms could see a large uptick with so many classes shifting online, and so many kids studying from home. FZN is likely looking forward to setting some more records in the next quarter.

Family Zone shares remain grey so far in today’s session, trading for 16.5 cents per share at 10:13 am AEST.