RocketBoots signs major international contract with UK grocery retailer

RocketBoots Limited (ASX:ROC) has successfully secured its first major international contract with The Southern Co-Operative Limited to deploy its Loss Prevention software across its UK retail grocery locations. The contract, with a term of 4 years and an option to extend for 2 years, is valued at up to AUD$1.8M for the completion of all stages. This significant achievement marks the establishment of a beachhead position for RocketBoots in the UK retail grocery vertical, demonstrating the Company's ability to convert customer trials into long-term contracts.

Executive Commentary on International Contract and Growth Potential

RocketBoots Chief Executive, Joel Rappolt, expressed enthusiasm about the international momentum and growth potential demonstrated by the recent contract. He highlighted the significance of securing 2 new customer contracts in the past few months and emphasized the convergence of the customer sales pipeline with the Company's ability to showcase the value of its technology. Rappolt also underscored the strategic importance of the deal as a beachhead opportunity for RocketBoots to position itself for further growth in the UK retail grocery sector, expressing confidence in closing other ongoing trials.

Summary of RocketBoots' International Contract and Future Outlook

RocketBoots' successful signing of its first major international contract with a UK grocery retailer marks a significant milestone, reflecting the Company's international strategy execution and sales capabilities. The contract's potential to nearly double the Company's current Annual Recurring Revenue (ARR) upon completion of all stages underscores the substantial impact on RocketBoots' revenue. Additionally, the Company's engagement across a robust sales pipeline with numerous potential customers and the retention of foundation customers over the years indicate a positive outlook for future growth. RocketBoots aims to leverage this contract to further establish its presence in the UK retail grocery sector and capitalize on the growth opportunities it presents, aligning with the Company's ambitions for expansion and market penetration.