Company Interview / RocketBoots rockets on $9M global deal

Key Points:

RocketBoots (ASX:ROC) secures a $9 million+ global contract with a tier one retailerTechnology addresses retail shrinkage, operational efficiency, and customer experienceOver 3,500 sites contracted with a robust sales pipelineDebt-free position with a clear path to profitability

AI-powered loss prevention software company RocketBoots (ASX:ROC) has secured a contract worth $9.1 million with a major international retailer to implement its AI-driven loss prevention platform globally. Joel Rappolt says this agreement is a transformative moment, bringing predictability and quality to the business’s revenue as its technology is deployed at scale. According to Rappolt, RocketBoots emerged victorious following both trials and a competitive request-for-proposal process, setting the stage for significant future growth.

Rappolt highlights that RocketBoots’ SaaS utilises machine learning, computer vision, cloud computing, and advanced analytics to reduce in-store theft, cut operational costs, and improve customer service. He points to current global challenges, where rising theft and fraud, coupled with increased living costs and higher interest rates, have caused retail shrinkage to intensify. This trend, in Rappolt’s view, has made retailers more hesitant to expand self-checkout facilities due to heightened theft risks, which RocketBoots’ technology addresses directly by identifying every product in the bagging area and reducing friction for shoppers.

The company’s technology, Rappolt claims, enhances operational efficiencies by optimising staff deployment based on real-time data, improving employee and customer experiences. With over 3,500 sites already contracted, its advanced pipeline includes 14 customers and 17,000 more sites, and a broader early pipeline with over 32,000 sites in opportunity. RocketBoots’ debt-free balance sheet and the significant new contract bring confidence in the path to profitability.