IKEGPS Group held its 2023 annual general meeting, where the Board Chair, Alex Knowles, highlighted the company's achievements in the North American utility infrastructure market and its financial performance.
IKE reported a revenue growth of 93% to nearly $31 million, with 89% of the revenue coming from recurring subscriptions and transactions.
The company attributed its success to the demand for its productivity solutions in the electric utility and communications sectors, as well as its investments in technology development.
IKE also discussed its plans to launch advanced products in the next financial year, including the next-gen IKE Poleforeman and AI-driven solution IKE Insight.
The company aims to expand its customer base and capitalize on the market's growth opportunities.
However, transaction revenue for Q1 and Q2 of FY24 was softer due to the engineering practices of two utilities.
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