RocketBoots has completed a successful trial with a major Mexican retail bank operating more than 1,200 branches, opening discussions over a possible wider rollout. The company also renewed a 12-month agreement with a long-standing New Zealand banking customer, with total invoices raised of approximately A$231,000.
- Successful Mexican bank trial completed
- Rollout discussions begun, but no wider contract agreed
- A$131,000 invoice issued for Mexican trial
- New Zealand retail bank renews for 12 months
- Approximately A$231,000 in total invoices raised
Mexican Trial Opens Door to Wider Deployment
RocketBoots Limited (ASX:ROC) has cleared an important commercial hurdle in Mexico, completing a trial with a major retail bank whose network spans more than 1,200 branches. The bank has described the trial as successful, and discussions have now begun over extending the software beyond the initial group of branches.
That is the opportunity, rather than a contract win, at this stage. RocketBoots said the scale of any potential deployment has not been agreed, and no rollout contract has been signed. The trial was secured alongside a multinational consulting partner that works with the bank and introduced RocketBoots to the opportunity.
A$131,000 Trial Invoice Issued
The Mexican trial has generated an invoice of approximately A$131,000, or US$93,800, according to the announcement. RocketBoots said total invoices raised across the two customer matters were approximately A$231,000, although it did not allocate the remaining amount between the Mexican and New Zealand customers.
The distinction between billing and cash collection matters here. The company said its New Zealand bank customer has paid its invoice, while the Mexican update confirms that an invoice was issued. That gives the announcement a tangible near-term revenue and cash element, without turning the prospective Mexican rollout into booked future revenue.
New Zealand Agreement Reaches Four Years
A major New Zealand retail bank has renewed its RocketBoots software agreement for another 12 months. The customer first engaged the company in 2019 and entered an enterprise agreement in May 2023; the latest renewal extends the full contract term to four years.
RocketBoots Chief Executive Joel Rappolt described the update as a combination of completed trials, cash received and renewals, but the next material test is whether the Mexican discussions produce a defined rollout with disclosed scope, timing and value. Until then, the 1,200-plus branch network remains an addressable opportunity rather than contracted revenue.
Bottom Line?
The New Zealand renewal provides another year of contracted activity, while RocketBoots now needs to convert Mexican rollout discussions into a binding deployment before the larger opportunity can be valued.
Questions in the middle?
- Will the Mexican bank approve a wider rollout, and how many branches would it cover?
- What value and timing could attach to any Mexican deployment contract?
- How much of the A$231,000 invoiced will convert into cash and recurring software revenue?