ikeGPS Q1 FY 25 Performance Update

MKTUPDTE

Mon, Jul 15 2024 08:30 am

Exit Run Rate of annual platform subscription revenue of ~NZ$12.9m (+40% vs pcp)

~3,900 additional subscription seat licences added over the past year (+207% vs pcp)

~NZ$9m in contracts won in the Q1 period across ~180 deals AI products coming to market from Q2

ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to release an update for its Q1 period to 30 June 2024 (all figures in NZD). IKE will host a webinar on 15 July 2024 at 11am AEDT/1pm NZDT to discuss performance and outlook. To register, please click:

https://us02web.zoom.us/webinar/register/WN_d9UEjq7kTOew1LOSYu5mjw

Q1 FY25 Performance Highlights:

 Exit Run Rate of annual platform subscription revenue grew to ~NZ$12.9m ( +40% vs pcp)
 Total recognized revenue in the quarter of ~NZ$5.8m (+4% vs pcp).
 Recognized subscription revenue of ~NZ$3.2m (+29% vs pcp).
 Recognized transaction revenue of ~NZ$1.8m (-16% vs pcp but noting margin increased ~NZ$0.2m).
 Gross margin of ~NZ$4.0m (+18% vs pcp), with a gross margin percentage of ~70% (up from pcp of ~61%)
 Total cash and receivables as at 30 June 2024 of ~NZ$14.0m, comprised of ~NZ$10.0m cash and ~NZ$4.0m receivables, with payables of NZ$1.1m and no debt.
 This cash position is flat against the cash position at 31 March 2024 and up from 31 December 2023 (NZ$8.0m).

Further performance charts, tables, and commentary is set out in the attached press release