May 21, 2022

Family Zone (ASX:FZO) surpasses one million students in US cybersecurity trials – The Market Herald

Subscribe

Be the first with news that moves the market

  • Cybersecurity firm Family Zone (FZO) surpassed one million students in its proof-of-concept (POC) trials in the United States, tripling the number recorded the previous year
  • POC trials are performed before purchase so organizations can test the technology. The company typically converts between 80-90% of POCs into sales
  • Family Zone gears up for key US sales period with $8.5 million in sales pipeline, half of which expected to convert to sales
  • The Company Believes It Will Exceed Budgets and Sales Records Across All Key Metrics in the March Quarter
  • Shares were trading up 7.33% today at 40.3 cents each

Cybersecurity firm Family Zone (FZO) surpassed one million students in its proof-of-concept (POC) trials in the United States, tripling the number recorded the previous year.

POC trials are performed before purchase so organizations can test the technology. Family Zone said it’s common for US school districts to preface purchases of online safety technology with a POC period.

The key period for sales of educational technology in the United States is from February to July, with many organizations gathering information and quotes. Most orders are processed between May and July.

The company is preparing for this period with $8.5 million in the sales pipeline.

Historically, FZO has converted about half of pipeline contracts and between 80-90% of POCs into sales.

The company said it expects to exceed its budgets and sales records for all key metrics in the March quarter.

Family Zone offers an innovative cybersecurity platform that it says enables the world’s first collaboration between schools, parents and educators in cybersecurity.

The shares were trading up 7.33% today at 40.3 cents apiece as of 12:50 p.m. AEDT.