IKE Group Limited (IKE) (NZX: IKE / ASX: IKE) has reported its FY23 audited financial results for the period to 31 March 2023, with revenue of ~$30.8m (+93% vs pcp) and a gross margin of ~$16.3m (pcp of $9.9m).
The company has a strong, sustainable cash and balance sheet position, with total cash and receivables of $23.2m, comprised of $18m cash and $5.2m receivables, with payables of $2.3m and no debt.
IKE's sales pipeline opportunity has continued to develop robustly, with the company targeting North America's ~3,000 electric utilities, ~200 communications companies, and their more than 2,000 engineering service providers.
CEO Glenn Milnes commented that the FY23 period saw strong momentum across IKE, with healthy growth expected in the FY24 period and beyond.
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