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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Quantify Technology Holdings Limited    QFY   AU000000QFY8

QUANTIFY TECHNOLOGY HOLDINGS LIMITED

(QFY)
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2020QUANTIFY TECHNOLOGY : Initial Director's Interest Not
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2020QUANTIFY TECHNOLOGY : Disclosure Docum
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2020QUANTIFY TECHNOLOGY : GSM Innovations acquisition and capital raise compl
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Quantify Technology : Device Activation Accelerates

11/26/2020 | 05:51pm EST

Device Activation Accelerates

ASX RELEASE

27th November 2020

Highlights

  • Trader has ordered a further 10,000 devices that are due to be delivered in early 2021
  • Beacon Lighting is installing devices in one third of its flagship stores
  • There are over 5,000 active devices on the network

Quantify Technology Holdings Limited (ASX:QFY) ("Quantify Technology", the "Company") provides this update following the announcement, on October 1st of it entering into a Binding Terms Sheet for the acquisition of 100% of the share capital of GSM Innovations Pty Ltd ("Zimi"), a wholly owned subsidiary of Gerard Private Holdings (Finance) Pty Ltd1. The Annual General Meeting (AGM) is scheduled for 30th November with the capital raising expected to close shortly thereafter. This trading update provides further information on the performance of Zimi in the run up to the AGM and completion of the acquisition.

Zimi Distribution

Zimi has three main distribution partners: GSM-E ("Trader") a wholly owned subsidiary of Gerard Private Holdings (Finance) Pty Ltd; Beacon Lighting Group ("Beacon", "BLX") and Steel-line Garage Doors.

Trader has placed orders with Zimi for 10,000 devices which are due to be delivered in the first quarter of calendar year 2021. It is currently working hard to maximise sales in the run up to Christmas. These 10,000 devices will count as revenue for Zimi, and when the acquisition is completed, for Quantify Technology as well.

1 https://wcsecure.weblink.com.au/pdf/QFY/02288590.pdf

Beacon is installing devices with marketing material into one third of its flagship stores. The devices are also being sold through its on-line store. Steel-line Garage Doors have begun commercialisation of the Garage Door Controllers.

Zimi End-Users

Zimi devices use Bluetooth to pair (or connect and activate) within the home. The advantage of Bluetooth is that reception improves the more devices are paired. At the end of October, there were over 5,000 active devices on the Zimi cloud network in over two thousand homes. These are monitoring power usage to ensure homes owners can control and reduce their energy bills. To date, there have been no sales through the Beacon and Steel-line Garage Doors partner channels. Now that each channel has devices and is selling, the growth rate is expected to accelerate.

Cumulative Zimi Device Activation

6,000

5,000

4,000

3,000

2,000

1,000

-

Finally, in September, Zimi received a prestigious Australian Good Design Award Winner Accolade in the Product Design Hardware and Building category2.

This release has been authorised by the board.

-ENDS-

2 https://good-design.org/projects/powermesh/

Further Information:

For questions to the Lead Manager, PAC Partners, please contact:

James Emonson

E: jemonson@pacpartners.com.au| P: +61 411 827 342

For other enquiries

Brett Savill

E: brett.savill@quantifytechnology.com | P: +61 433 932 020

About Quantify Technology

Quantify Technology is an Australian-based company, focused on making lives better in homes, workplaces, and communities with their Internet of Things (IoT) smart home technology.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Quantify Technology Holdings Limited published this content on 26 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2020 22:50:00 UTC


© Publicnow 2020
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Financials
Sales 2020 0,47 M 0,36 M 0,36 M
Net income 2020 -10,8 M -8,23 M -8,23 M
Net Debt 2020 0,32 M 0,24 M 0,24 M
P/E ratio 2020 -0,15x
Yield 2020 -
Capitalization 11,1 M 8,54 M 8,46 M
EV / Sales 2019 50,7x
EV / Sales 2020 4,96x
Nbr of Employees -
Free-Float 73,2%
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Managers and Directors
NameTitle
Brett Savill Chief Executive Officer & Executive Director
Peter Rossdeutscher Chairman
Julian Hocking Chief Financial Officer
David Porter Chief Technology Officer
Gary Castledine Non-Executive Director
Sector and Competitors