ikeGPS Group (IKE) investor relations material

Executive summary

• Achieved 33% year-over-year growth in platform subscription revenue, closely matching guidance and reaching NZ$19.2m.

• Positive underlying EBITDA was reached in March 2026, marking a key milestone toward profitability.

• AI-first approach and product enhancements increased efficiency, pricing power, and customer retention, with no churn after a 10% price increase.

• The company remains deeply embedded in utility workflows, with proprietary data and high switching costs for customers.

• IKE software is now deployed across all 50 US states, trusted by major utilities and communications companies.

Financial highlights

• Platform subscription revenue reached NZ$19.2m (+33% year-over-year), with total revenue at NZ$26.6m (+6%).

• Gross margin improved to 80% overall, with platform subscription gross margin at 94%.

• EBITDA loss narrowed to NZ$(5.0)m from NZ$(6.9)m, with positive EBITDA in March.

• Cash and term deposits totaled NZ$32.8m–33m at year-end, with no debt.

• Operating expenses increased by only 3%, reflecting strong cost control.

Outlook and guidance

• FY27 guidance targets similar platform subscription revenue growth as FY26.

• Expect increased spending in FY27 to support accelerated product development and go-to-market efforts.

• First new product release on track for customer delivery by end of calendar year; second platform targeted for FY27–28.

• Capitalized R&D expected to continue at NZD 150K–200K per month into FY27.

• Macro tailwinds from US utility infrastructure investment expected to continue supporting growth.