ikeGPS 1H FY25 Financial Results

ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to release the financial results for 1H FY25 to 30 September 2024 (all figures in NZD).

Highlights for the half year, with results in-line with the performance update on 24 October 2024:

+ 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).
+ Recognized subscription revenue of ~NZ$6.5m (+28% vs pcp).
+ Recognized transaction revenue of ~NZ$4.0m (+6% vs pcp).
+ Recognized hardware and other services revenue of ~NZ$1.7 (in-line with pcp).
+ Gross margin of ~NZ$8.1m (+31% vs pcp), with a gross margin percentage of ~67% (up from pcp of ~59%).
+ Net loss was ~NZ$6.9m (pcp ~NZ$6.4m).
+ Non-cash items included in this Net loss amount totalled ~$3.7M (pcp ~NZ$2.2m).
+ Cash used in Operating activities of ~NZ$2.6m (~51% lower vs pcp).

Full commentary and momentum across the IKE business is set out in the announcement attached.

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Announcement PDF