TZ Limited collars ‘pivotal’ software deal with multi-billion-dollar company Ricoh

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By Lorna Nicholas - 
TZ ASX TZL Ricoh software cloud

这项为期三年的纯软件协议预计将为 TZ 带来 950,000 澳元的收入。


As it continues to boost its bottom line, TZ Limited (ASX: TZL) has collared a “pivotal” software only deal with multi-billion-dollar company Ricoh.

Under the agreement, Ricoh will use TZ’s cloud offering. The deal is expected to have a total contract value of $950,000 to TZ over a three-year term.

TZ chief executive officer Mario Vecchio said the agreement with Ricoh was a “pivotal moment” for the company, because it marks TZ’s first software-only contract.

“It is the first commercial success of a strategy developed last year to generate a separate income from the software platform only,” Mr Vecchio explained.

“We have been investing and focusing on building our strong software foundation, and this $950,000 deal reflects those capabilities.”

Payment will be made in three tranches with the first $250,000 due now and the remainder by mid-2023.

TZ says the agreement demonstrates its capabilities as a “world leading software provider in the smart locker market” and its “rapidly growing Edge Logistics domain”.

Global entity, Ricoh generated $18.5 billion in revenue during the last financial year.

TZ software platform

TZ has developed intelligent access control software – specialising in smart locking systems.

“This transaction demonstrates to customers the ability to work with third-party electronic lock hardware and locker systems – on an at scale basis,” Mr Vecchio said.

Building revenue

During the June quarter, TZ posted net cash from operating activities of $700,000 – up from the $1.2 million loss in the previous corresponding period.

Group revenue for the quarter was $8 million, which brings year-to-date revenue to $21.2 million.

According to TZ, this represents a 78% increase on the revenue result in the June quarter of last year.

TZ noted it had closed out the June period with $4 million in back log orders, which are expected to be delivered in the current September quarter.

The company anticipates the strong end to the FY2022 financial year will continue throughout FY2023.