ikeGPS Group (IKE) investor relations material

Executive summary

• Achieved strong third quarter performance, with subscription revenues growing at a 35% to 43% pace year-over-year and reaching NZD 14.1 million for the nine months, up 38% from the prior year.

• Exit run rate annual recurring revenue (ARR/ERR) reached NZD 21.1 million, up 35% year-over-year as of December 2025.

• Total revenue for the period was NZD 19.8 million, a 7% increase compared to the same period last year.

• Net customer growth of 25 in the quarter, with 448 subscription customers at period end, up 7% year-over-year.

• New product initiatives, including AI-driven modules and PoleForeman, are progressing as planned.

Financial highlights

• Gross margin improved to 79% from 68% year-over-year, with platform subscription gross margin reaching 93%.

• Three-year compound annual growth rate for ARR/ERR stands at 39%.

• Platform transaction revenue declined 35% to NZD 3.8 million, with billable transactions down 45%.

• Hardware and other revenue decreased 23% to NZD 1.9 million.

• Total cash position at NZD 32.3 million with no debt as of December 2025.

Outlook and guidance

• FY26 guidance reiterated for approximately 35% or greater growth in platform subscription revenue.

• Targeting EBITDA breakeven on a monthly run-rate basis by the end of FY26.

• Early signs of continued strength in the fourth quarter, with a strong start to FY26's final quarter.

• R&D spend expected to accelerate in the next quarter due to onboarding for the PoleOS initiative and platform strategy.

• Expectation for continued healthy growth in recurring subscription and transaction revenues.