Family Zone’s (ASX:FZO) US operations cross 1 million student trials

Image Source: © Denisismagilov | Megapixl.com

Highlights 

  • Tech firm Family Zone has surpassed 1 million students in its US cyber safety trials.
  • POC trials increased 300% from FY2021, and the company expects to exceed its previous sales record in the March quarter.
  • The stock has gained 10% in the last week.

Family Zone Cyber Safety Limited (ASX:FZO) has achieved a new milestone with POC trials. The company announced that its US operations had surpassed 1 million student licences in “proof of concept” trials, reflecting 300% growth from the prior year.

The stock closed 6.666% higher at AU$0.400 on Friday.  

 

What is proof of concept?

Proof of concept or POC refers to technology trials before making a purchase. US school districts typically deploy POC to precede the online safety technology sales.

Often, these are either full or substantial deployments across the institutions, and the company generally converts between 80-90% of POCs into sales.

Last time, in December 2021, the company achieved 10 million students on its platform representing strong customer retention across its K-12 markets.

As per the latest release, the critical sales period in US education technology has been from February to July. Meanwhile, most orders were processed in May-July in the US K-12 district sales cycle, as per the data provided by MCH Strategic Data.

Also, the number of student licences in US POC trials is 300% higher than in March 2021. This further reflects FZO’s growing capability and reputation in the market.

What next?

FZO has built a record AU$8.5 million sales pipeline with over 1 million students in POC trials in this crucial period.

Related read - 3 ASX technology stocks to watch out for

Moreover, Family Zone has converted around 40-50% of pipeline deals and expects to exceed its sales and budget record across all critical aspects in the March quarter.

About Family Zone 

The ASX listed technology company - Family Zone designs and develop cloud-based parental control solutions.

 FZO share price performance

While the stock has gained 10% in the last week, it has dropped over 35% on YTD this year. It has further dropped 13% in the previous 12 months. 


 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and