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Quantify’s strong start to 2021

18 Feb 2021

2021 is off to a bright start for Quantify Technology, recently receiving purchase orders from its distributor Trader for over 17,000 products representing sales in excess of $1m. The purchase orders represent a 7,000 product increase from the 10,000 announced earlier. They are due to be delivered from June through to September 2021; however, global microchip shortages may result in some delays.

Trader is the exclusive distributor into the electrical wholesale market selling into more than 900 electrical wholesalers across Australia.

Beacon Lighting is another of the Company’s main distributors. Beacon continues the roll out of the Company’s products into its flagship stores and through its on-line store.

Steel-Line Garage Doors, a third main distributor, has begun commercialisation of the garage door controllers.

At the end of January, there were 6,300 paired (activated) devices on the Zimi network. The product range has been improved and a blind controller has been released for the first time to be delivered as part of the purchase orders.

There have also been significant enhancements to the software and cloud platform, including integration with Amazon Alexa alongside Google Home. Together these tech companies represent 78% of the smart speaker market in Australia.

 

 

 

Quantify is also delighted to announce that Simon Gerard is stepping up to the role of non-executive chairman. Simon has agreed to take no fees for his first twelve months in this role. Peter Rossdeutscher has agreed to step down as chairman and will continue as a non- executive director. Gary Castledine has decided to resign as a non-executive director but will continue in an advisory capacity for a share-based remuneration to be approved by shareholders.

Quantify’s CEO, Brett Savill said ‘This has been a busy start to the year and I’m very confident about the opportunities ahead. We will continue to work with Gary Castledine, but I would like to take this opportunity to thank him for all that he has done for the company and wish him all the best for the future.’

Read the full ASX Document here.

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