ikeGPS FY25 Financial Results

FY25 Financial Results for the Period to 31 March 2025

+48% growth of FY25 annual subscription revenue exit run rate.

Subscription revenue growth in FY26 expected to be +35% or greater.

Total recognized revenue in the period of NZ$25.2m (+19% vs pcp), with a net loss of NZ$16.3m.

Total cash & net receivables NZ$15.4m. The March 2025 cash position of NZ$10.3m is consistent with the position 12 months prior.

Unsolicited, non-binding acquisition approach received in the period at NZ$1/share, or ~NZ$165-170m EV.

ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to release its full year audited results for the 12-month period to 31 March 2025. All figures are in NZD, rounded to the nearest decimal.

The results are in line with the performance update reported to the market in April.

Highlights:
Exit run rate of annual platform subscription revenue grew to NZ$17.6m (+48% vs pcp).

Total recognized revenue in the period of NZ$25.2m (+19% vs pcp), with recognized revenue in 4Q of NZ$6.6m. Comprising the above was:
 Subscription revenue of NZ$14.4m (+34% vs pcp).
 Transaction revenue of NZ$7.6m (+3% vs pcp).
 Hardware and other services revenue of NZ$3.2m (+5% vs pcp).
 Gross margin of NZ$17.4m (+37% vs pcp), with gross margin in 4Q of NZ$4.8m (73%).

Gross margin percentage of 69% (up from pcp of 60%), driven by revenue mix continuing to shift to high margin subscription software products.
 Cash Operating Expenses 2% lower than pcp.

Adjusted EBITDA loss of NZ$6.1m (improved from pcp Adjusted EBITDA loss NZ$9.8m)

Net Comprehensive Loss of NZ$16.3m (-11% vs pcp).
 Excluding impairment (non-cash) the Net Comprehensive Loss position improved by 18% vs pcp.

Total cash and net receivables NZ$15.4m.
 This comprises NZ$10.3m in cash and NZ$5.1m in net receivables (NZ$6.1m in receivables with payables of NZ$1.0m) and no debt. This grew +NZ$1.8m in the fourth quarter.
 The 31 March 2025 cash position is consistent with the level 12 months prior.

For further detail please see the attached press release which should be read in conjunction with the consolidated financial statements for the twelve months ended 31 March 2025

IKE will host a webinar with CEO Glenn Milnes at 11:00am AEDT/1:00pm NZDT today - Thursday, 29 May 2025. Registration for the investor webinar is available via the link below:

https://us02web.zoom.us/webinar/register/WN_w9Jpoc8VS8qbHU3xE6V31A

About IKE

We’re IKE, the PoleOS™ Company. IKE seeks to be the standard for collecting, analysing and managing pole and overhead asset information for electric utilities, communications companies, and their engineering service providers.

The IKE platform allows electric utilities, communications companies, and their engineering service providers to increase speed, quality, and safety for the construction and maintenance of distribution assets.

The core revenue engine for IKE is driven by the number of enterprise customers subscribing to the IKE platform and the volume of assets (called Transactions) being processed through IKE’s software.

Contact :

Glenn Milnes
CEO
+1 720-418-1936
[email protected]

Simon Hinsley
Investor Relations
+61-401-809-653
[email protected]

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Announcement PDF