RocketBoots Extends Major Retail Contract and Raises $1.5M to Accelerate Global Expansion

Contract Extension Solidifies Domestic Foundation

RocketBoots Limited (ASX:ROC) has reaffirmed its position in the Australian retail technology market by extending its SaaS contract with a major national retailer. This renewal continues a foundational partnership spanning over seven years and hundreds of store locations. The contract includes a prepayment of $339,000, a 5% increase from the previous term, underscoring the retailer's confidence in RocketBoots’ AI-driven platform to optimize workforce management, customer service, and loss prevention.

The extension not only secures recurring revenue but also enables deeper integration of RocketBoots’ technology with the retailer’s existing systems, enhancing operational efficiencies and value extraction across the network.

Building Momentum in International Markets

Beyond Australia, RocketBoots is making significant strides in expanding its global footprint. The company reports an increasingly credible sales pipeline, now featuring three large multinational retailers actively trialing its vision AI solutions. These advanced pipeline customers collectively operate over 10,000 sites, presenting substantial upside if trials convert to scaled contracts.

Additionally, 25 early pipeline customers representing more than 25,000 sites are engaged in qualification discussions, with four awaiting trial approvals. This broadening interest reflects growing market acceptance of AI-powered operational tools that reduce operating expenses and shrink losses while boosting customer experience and loyalty.

Leadership and Capital to Drive Next Growth Phase

In a strategic move to support its scaling ambitions, RocketBoots appointed Roy McKelvie as Independent Non-Executive Chairman in December 2024. McKelvie brings over 25 years of global private equity and financial markets experience, including leadership roles across multiple sectors and continents. His expertise is expected to be pivotal as RocketBoots navigates large customer contracting decisions and international expansion.

Complementing this leadership upgrade, RocketBoots successfully raised $1.5 million through two placements during the quarter. The capital raise attracted both new and existing sophisticated investors, including a $200,000 investment led by McKelvie himself. Funds will be directed towards general working capital and accelerating sales and customer initiatives abroad.

Financial Position and Outlook

RocketBoots ended the quarter with a cash balance of $534,000, following operating cash outflows aligned with forecasts and one-off costs related to capital raising activities. The company acknowledges that available funding covers approximately three-quarters of a quarter’s operating expenses but expects improved cash flows from contract renewals and new international revenue streams, including a recently announced £1.8 million UK contract.

Management remains confident in sustaining operations and meeting business objectives without immediate plans for further capital raises, anticipating additional investment from the Chairman post-shareholder approval in early March.

Positioning for a Billion-Dollar Market

RocketBoots’ AI-powered platform addresses critical pain points in retail and banking sectors globally, including loss prevention at self-checkouts, fraud detection, workforce optimisation, and queue management. With a growing base of enterprise clients and a robust pipeline, the company is poised to capture a meaningful share of the billion-dollar global retail, grocery, and banking markets.

As RocketBoots transitions from trial phases to commercial rollouts, the market will be watching closely to see how effectively it converts pipeline opportunities into sustainable revenue growth and how the new leadership steers the company through this pivotal scaling phase.