A global transport and logistics operator has tapped Aussie tech company TZ Limited (ASX: TZL) for $2.6 million worth of smart lockers and software, a rapidly growing technology in the online shopping era where products (even food) is becoming increasingly at risk of theft.
The order is expected to be delivered by TZL by early 2024 with the European-headquartered customer particularly keen to receive at least 50% of the lockers before Christmas, emphasising the urgency of the TZL products in the hot online shopping space.
The use of smart lockers is becoming increasingly common in major footraffic zones where it is common in Australia for Australia Post and Amazon to install smart lockers. The use of such products prevents products from being stolen by passer-bys, and can then only be accessed by the intended customer who receives a pin code to open the locker.
TZL CEO, John Wilson expects this online shopping and online ordering trend to present further headwinds for TZL.
“We have made significant progress towards shoring up the fundamentals of this business. The positive first quarter and now confirmation of this significant order demonstrates that the Company is heading in the right direction,” said Wilson.
“Our ability to secure orders like this, particularly in a competitive market environment, validates that the Company has a compelling value proposition and that customers do value what we have to offer.”
TZL specialises in the development and supply of innovative Smart Lockers, System Electronics, and Software solutions. These products cater to a diverse range of industries, with a particular focus on enhancing the efficiency and security of goods and asset management. The company’s Smart Lockers are equipped with cutting-edge technology and integrated software systems, making them an ideal solution for organisations seeking to streamline their logistics and asset management processes.
The growing importance of efficient logistics and supply chain management in today’s globalised world has fueled demand for smart locker solutions. Changing trends in eCommerce such as the need for secure, contactless, and automated parcel delivery, has driven companies to seek innovative solutions. Furthermore, the ongoing digital transformation in various industries necessitates the adoption of advanced technologies for seamless operations, making TZL’s offerings increasingly relevant.
TZL’s competitive advantage lies in its ability to provide comprehensive and customisable solutions. The company’s products offer real-time tracking, security, and user-friendly interfaces, making them an attractive choice for businesses seeking to optimise their asset and logistics management.
With this significant purchase order, TZL is on course to strengthen its financial position with Wilson confident they are heading in the right direction of achieving profitability by the end of FY24.
TZ Limited started FY24 on the right note, delivering $303k in positive operating cash flow with $955k cash on hand.
The ambitious target to reach profitability in FY24 comes after a tumultuous few years for TZL which has included several leadership changes and minimal presence in the investor community. In FY23, TZL reported $13.8 million in revenue with net losses after tax of $5.98m.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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