Moreover, it recently raised approximately $20m through the completion of a share placement on 9 March 2023. Taking pride in demonstrating stable fixed costs for 3 quarters in a row, Family Zone will continue to focus on cost reduction and improving cash inflows with the aim to reach run-rate break-even operating cash flows in the June quarter. However, the Company revealed that it is expecting seasonally higher cash inflows in the upcoming quarters, therefore operating cash flows are expected to improve. Family Zone is currently left with $16.93m cash at bank, but might raise shareholders’ question of how the Company will maintain sustainable operations with a cash outflow of $10.57m this quarter and a cash runway of 1.6 quarters. Its customer-offering Qustodio app helps parents to manage screen time, block harmful content, set rules for social and gaming apps, and track smart devices at home, school, or on the go. As a global provider of digital safety and wellbeing solutions, Family Zone developed online controls to filter out the harmful aspects of the digital world, such as exposure to adult content, cyberbullying, privacy issues, sleep disturbances, and even potential cybercrime. Continued growth is expected with a 2-3 year target of $10 per annum.
Average revenue per student across the group (Education and Global divisions combined) remains stable from the previous quarter at $8. This reflects Family Zone’s broadening product range and capability in cross and upsells. Other key achievements within the quarter include strong margins and growth in average revenue per student from the Education division, now passing through $6.2 p.a. non-school) customers as part of an efficiency drive.
Family Zone sees this as an exceptional result given the delayed start to the UK edutech selling season and active churning of non-core (i.e. The Company’s Group Annual Recurring Revenue (ARR) saw a $6 increase in the March quarter compared to the previous quarter, hitting $91 million. Hoping to become a panacea and help parents and educators to prevent children from unsafe situations, family-focused cyber safety company Family Zone (ASX: FZO) has been focusing on cyber safety technology to improve online safety for children and teenagers, and it seems that many parents and educators across the US, Europe, Australia, and New Zealand are sharing the same vision. While the internet offers endless opportunities for kids to learn, explore, connect, and be exposed to the technologies that will be useful in later life, it also poses a double edged sword as people with dark intentions and malevolence coexist in cyberspace too.
Demand rising for Family Zone’s parental control app with fears around unwelcome sexual contactĪccording to The Australian Institute of Family Studies, 97% of households with children aged under 15 years have access to the internet, with an average of seven devices per household.
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