IKE performance update for Q1 FY23: IKE Group Limited (IKE) reported a revenue of $6.8m (+162% vs pcp) in Q1 FY23 and signed contracts of ~$8m (+31% vs pcp).
Gross margin in Q1 FY23 was ~$3.9m (+116% vs pcp) with a gross margin percentage of ~57%.
The balance sheet showed a strong position with $23.3m cash and $4.4m receivables, with no debt.
CEO Glenn Milnes is optimistic about the outlook for FY23, with an estimated $13-15m of signed contract backlog to be delivered and recognised as revenue in the next three quarters.
IKE will host a webinar Friday 22 July 2022 to discuss this performance.
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