IKE 1H FY25 Performance Update

MKTUPDTE

Thu, Oct 24 2024 08:30 am

IKE DELIVERS STRONG 1H FY25

Solid subscription revenue growth with an exit run rate of ~NZ$13.2m annualised (+34% vs pcp).

Record ~NZ$33m in contracts won in the period, across ~415 deals.

ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to release an update for the six-months to 30 September 2024 (1H FY25). All figures are in NZD. IKE will host a webinar today, 24 October 2024, at 9:30am AEDT/11:30am NZDT to discuss its performance and outlook.

To register, please click:
https://us02web.zoom.us/webinar/register/WN_R4mMjX3qRKi3XLOcDtpCjA

1H FY25 performance highlights:
+ Exit run rate of annual platform subscription revenue grew to ~NZ$13.2m (+34% vs pcp).
+ Total recognized revenue in the six-month period of ~NZ$12.2m (+16% vs pcp).
+ Gross margin of ~NZ$8.1m (+31% vs pcp), with a gross margin percentage of ~67% (up from pcp of ~59%).
+ Reduction of cash operating expenses by ~NZ$0.6M (-4% vs pcp).
+ Total cash and receivables as of 30 September 2024 of ~NZ$11.1m, comprised of ~NZ$6.8m cash and ~NZ$4.3m receivables, with payables of NZ$1.0m and no debt.

For more detail please join our investor webinar or see the attached press release and performance update.