RocketBoots (ASX: $ROC) Q3 FY24 Business Review Highlights

RocketBoots Limited (ASX: $ROC) has reported its Q3 FY24 business review, highlighting a focus on strategic investments in international expansion for long-term growth. The company demonstrated a measured approach to cash outflows and reported cash inflows of $153K, mainly for new trial activations. Additionally, RocketBoots completed a capital raise of $500K, with stable cash outflows at $776K and $166K in cash and cash equivalents at the end of the quarter.

RocketBoots CEO's Reflection on International Expansion

In June 2022 we launched our first international marketing campaign with an aggressive internal target of cash break even within two years. Whilst this has still not been achieved, to be on the cusp of achieving international scale is a great reflection on the hard work the entire RocketBoots team has put in and the quality of the software that we have developed and delivered.

RocketBoots (ASX: $ROC) Q3 FY24 Business Review Summary

RocketBoots Limited (ASX: $ROC) continued its strategic investments in international expansion during Q3 FY24, focusing on securing new trial contracts with customers operating 12K+ sites internationally. The company completed a capital raise of $500K, with stable cash outflows at $776K and $166K in cash and cash equivalents at the end of the quarter. Looking ahead, RocketBoots anticipates multiple contract renewals from existing customers in the first half of FY25, along with imminent decisions on multi-year rollout contract agreements for international trials. The company also expects accelerated growth and progression of the pipeline on the back of growing strategic partnerships.