RocketBoots (ASX: $ROC) June 2024 Quarterly Activities Report

RocketBoots Limited (ASX: $ROC) provided an update on its activities for the quarter ending 30 June 2024. The company reported progress in its market-validated AI and Computer Vision technology across a growing pipeline of enterprise customers. RocketBoots also highlighted its focus on transitioning from market validation and initial trials to accelerating international sales outreach, particularly in Europe and North America. Additionally, the company successfully raised $1,307,500 in capital during the quarter.

Executive Commentary on Quarterly Activities

RocketBoots has made significant strides in advancing its AI and Computer Vision technology, with over 30 customers in current sales engagement and a substantial number of customer sites in the advanced pipeline. The ongoing platform enhancements, developed in conjunction with customer feature requests and research into new AI applications, demonstrate our commitment to meeting the evolving needs of our clients. We are excited about the potential impact of converting the current trials into multi-year contracts, which would significantly boost our cash inflows and support our international expansion plans. The successful completion of several customer trials and the tangible Return on Investments (ROI) of our software further validate the value proposition we offer. As we transition our focus to international markets, particularly in Europe and North America, we are confident in the scalability of our market-validated technology and the opportunities it presents for RocketBoots' growth.

Summary of June 2024 Quarterly Activities

RocketBoots (ASX: $ROC) made substantial progress in its market-validated AI and Computer Vision technology, with a strong focus on international sales outreach, particularly in Europe and North America. The company's sales pipeline has strengthened, and the successful completion of customer trials positions RocketBoots for growth in the coming year. Additionally, the capital raised during the quarter will support the company's working capital requirements and expansion activities. With a visible opportunity to leverage its market-validated technology, RocketBoots is well-positioned to pursue its international expansion plans. The company's cash inflows, including expected payments from accounts receivables, customer trial payments, long-term customer annual renewals, and the R&D tax incentive, provide a positive outlook for the upcoming quarter.