- Cybersecurity company Family Zone (FZO) has achieved continued growth in the September 2020 quarter
- Throughout the quarter, the company generated $4.4 million from customers and $2.5 million in annual contract value
- It signed 704 new schools and 370,000 student licences, respective growths of 317 per cent and 355 per cent
- At the end of the quarter, FZO had 2834 schools using its tech, of which 2447 are contracted and the remaining 387 trialling
- The company now roughly services 2.5 per cent of the U.S. school district which spans across 37 states
- Despite these results, Family Zone has dropped 7.69 per cent and shares are trading for 48 cents each
Cybersecurity company Family Zone (FZO) has achieved continued growth in the September 2020 quarter.
Throughout the quarter, the company generated $4.4 million from customers, a 250 per cent increase from the prior corresponding period (pcp) of just over $1 million.
Additionally, it signed a record $2.5 million in annual contract value and $3.8 million in total contract value, representing 373 per cent and 280 per cent jumps, respectively.
As a result, Family Zone ended the quarter with a cash balance of $8.7 million and it expects a tax refund of $880,000 sometime this quarter.
It signed 704 new schools, a 317 per cent increase on the 146 added in the September 2019 quarter, and 370,000 student licences, representing a growth of 355 per cent from 86,000 recorded in the pcp.
These increases represent Family Zone’s improving sales performance and reputation in the U.S. market.
At the end of the quarter, FZO had 2834 schools using its tech, of which 2447 are contracted and the remaining 387 trialling.
The company now services roughly 2.5 per cent of the U.S. school district, which spans across 37 states.
Despite these results, Family Zone has dropped 7.69 per cent and shares are trading for 48 cents each at 11:25 am AEST.