- 01$3.3m activation for AI loss prevention.
- 02$9.1m ARR SaaS across 5-year deal.
- 03EU live; US rollout in June; global rollout underway.
RocketBoots (ASX: ROC) has executed a $3.3 million activation contract that will see it deploy its artificial intelligence (AI)-driven loss prevention platform across the global store network of a Tier 1 multinational retail group.
The new contract is associated with an existing software-as-a-service (SaaS) agreement for the same customer that has secured RocketBoots with $9.1m in annual recurring revenue (ARR) per year over a five-year term.
The two contracts will provide the company with near-term implementation revenue and long-term recurring SaaS revenue as the deployment progresses.
Activation revenue marks the transition from contracted ARR to realising revenue, while creating a repeatable, non-recurring income stream linked to ongoing store expansion and setting the foundation for future financial growth.
Multi-Region SaaS Activation
RocketBoots believes the new contract demonstrates its ability to sell and deliver complex, multi-region SaaS activation, and expects it to have a material impact on revenues and cash inflows, reinforcing the company’s position as a global enterprise AI provider.
RocketBoots is currently working on technical integration activities with the customer and its technology partners.
Initial deployment at stores within the European Union is underway while first US deployments are scheduled for June.
Subsequent rollouts will occur in stages across the customer’s global store network, delivering RocketBoots with activation revenue and recurring SaaS revenue and providing a transition to sustained revenue generation.
Strong Customer Partnership
RocketBoots chief executive officer Joel Rappolt said execution of the activation contract was an important step forward in delivering the transformational global agreement.
“It moves us from contract award into full implementation, reinforcing the strong partnership we have built with this customer and providing meaningful near-term revenue as we commence deployment,” he said.
“We are now focused on executing rollout, which we expect will further support conversion of additional opportunities across our global pipeline.”
Mr Rappolt said the activation contract would provide a strong reference framework to support further conversions with large enterprise retailers within RocketBoots’ advanced sales pipeline.
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