IkeGPS revenue shows sparks for subscriptions play

IkeGPS is moving to a subscription revenue model for its utility pole assessment software. (Image: IkeGPS)

Thu, 21 Nov 2024

IkeGPS Group reported a net loss of $7 million for six months to September 30, 2024 as revenue notably jumped.The New Zealand Exchange listed utility pole assessment software company attributed the overall loss to investment in new product development and market expansion.Revenue was up 16% over the prior corresponding period to reach $12.2 million, including a 28% jump for subscription revenue to $6.5m while transaction revenue was up a more modest 6% to $4m.Gross margin was up 31% to $8.1m, representing a margin percentage of 67%, up from 59%...

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