Continuing to build on the momentum established over the past two years since prioritising the US school market as a priority, education tech company Family Zone (ASX: FZO) now has more than 1 million students signed up to trials of the tech.
With an education system that groups schools within districts, the US market has been ripe for Family Zone whereby they can sign up entire school districts in single transactions rather than marketing to individual schools, or even students. In doing so with the beefed up sales force that was deployed 18 months ago, the Company has now surpassed 1 million student licence trials for the edutech platform that provides a safe space for students to access their education online.
Historically, Family Zone has been able to convert 80-90% of their trials to full licence sales where the process of trial-before-you-buy is standard practice in the edutech industry.
Highlighting the opportunities that Family Zone continues to open up in the US market, at the same time last year, there were just 340,000 students on the same trials which represents a 300% increase over the past year.
The increased attention towards the US market initially commenced in 2019 however this was further accelerated by the onset of COVID-19. Lockdowns across the United State subsequently increased the demand for remote learning platforms as well as cyber security that would best protect students from increased internet exposure.
Emphasising the need for protective measures for students undertaking online learning, Family Zone’s latest data shows that 69% of boys have watched porn by the age of 13 while 64% of teens now access porn regularly, at least once per week.
Alarmingly, 88% of this porn being watched contains violence against women.
Increased social media activity have also had a negative social impact on teens, of which 42% have reported being bullied on Instagram while teen girls who use social media are most at-risk of suicide.
Attempting to curtail some of these social risks, Family Zone has continued to scale their operations where they are set to unify a variety of different remote learning and cybersecurity products under one brand by the end of CY2022.
For the half year ended 31 December 2021, Family Zone reported $17.9m in revenue which represented a 308% increase on the previous year as the Company continues signing up schools to trials and converting others to sales.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
Latest posts by Alfred Chan (see all)
- Harris Technology to expand refurbished tech division amid rising demand from cost-conscious Australians - April 30, 2025
- Harris Technology secures major investment from Taiwan’s FSP Technology at 100% premium - March 10, 2025
- ARC Funds acquires 30% of auzbiz Capital as latest direct-to-investor marketing venture - October 8, 2024
Leave a Comment
You must be logged in to post a comment.