BS answer... The latest presentation shows $1.72M for Q1/18 an improvement of $1M. That is a raw number that we don't know how much is from schools Vs Telco's, but I am guessing mostly schools.
The growth of schools' revenue is the only one FZO has direct control over...because it involves FZO making presentations to schools it is a fairly time intensive process and the growth curve is linear [imo]... my guess is that Q1's reported increase is not going to be replicated next qtr because of the nature of funding/fees/budgeting on the schools side of things... but FZO will pick up a few during the year. The big increase should come this time next year as a result of the continuing roll-out.
The revenue from telco's is the big unknown. One question I will be asking is ... how is the marketing handled by the telco's. It is one thing for the service to be available but will that translate into take-up? From that point of view I can see why FZO has partnered with the E-pad business because it allows the Co to forcefully drive sales ... then a telco deal is not only easier to land but also partially solves the marketing. I don't think the revenue aspect of this deal is important ... rather, the partnership helps with FZO's credibility and meaningfully adds to FZO's offering.
There is a lot that can be read between the lines from the recent ann regarding meeting IPO milestones.
The IPO milestone was 15,000 customers and $100k revenue per month. That ann states further down the Co currently has 40,000 customers ... so... that should mean the current revenue is $250k/month. Further down still, the Co states its performance target is 100,000 customers by Dec '18...=~$650k month ...so roughly $8M. You would have to think that not only is that target realistic but also mandatory.... from the last 1/2 yearly report the net loss was $3.2M [after taking out non-recurring items] so cash burn is somewhere around $7M-$8M.
