Kids online safety specialist Family Zone Cyber Safety (ASX: FZO) has reported a strong September quarter in the United States market, collecting a record $4.4 million from customers to realise a 250% year-on-year growth and ending the period with $8.7 million in the bank.
The technology company has signed contracts since June with a total value of $3.8 million and an annual value of $2.5 million, representing 280% and 373% year-on-year growth, respectively.
It contracted a record 704 new schools and 370,000 student licences, representing 317% and 355% year-on-year growth, respectively, and highlighting a pattern of improved sales performance.
At the conclusion of the quarter, Family Zone had gone live with 2,834 schools, of which 2,447 are under contract and 387 are trialling the company’s cyber safety platform.
It now has 1.26 million student licenses and 1.5 million on the platform servicing more than 2.5% of the total school districts across 37 US states.
“Encouragingly, our sales pipeline, inclusive of proof of concept trials, remains strong providing [us] with confidence of continued strong sales momentum and substantial growth moving forward,” the company said.
“We ended the quarter with $8.7 million in funds and, with an $880,000 tax refund expected [this month], we are well placed to continue forward with our business growth plan.”
The Family Zone platform offers a world-first, singular approach to enable schools, parents and cyber safety experts to collaborate for the purposes of child online safety anywhere, at any time, on any device and network.
Family Zone chairman Peter Pawlowitsch said the focus is on building a business that incorporates school administration, teachers and devices to empower parents with tools and content that support student learning, especially in a COVID-19 home environment.
“While the COVID-19 pandemic has affected businesses everywhere during this period, it has highlighted the value of our products and the need for our tools to assist children with their digital experiences, which have only increased with homeschooling,” he told shareholders in this year’s annual report.
Family Zone launched its teacher tool Classwize in February, which has proven to be a valuable tool for schools following the move to remote learning.