ikeGPS Group Limited Analysis

Overview

IKE seeks to be the standard for collecting, managing and analysing pole and overhead asset information for electric utilities, communications companies and their engineering service providers. Usage of the IKE solution shows that against existing work practices IKE increases efficiency for field engineering by approximately two times and increases efficiency for back-office engineering by approximately five times.

ikeGPS is headquartered in Wellington, New Zealand. The company's sales, marketing, support and training organization is based in Broomfield, Colorado USA, supporting its customers across North America.

Performance

The following information was extracted from ikeGPS Group Limited's half year results, released 21 November 2024:

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).
• 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).