ikeGPS Group (IKE) H2 2026 earnings summary

Executive summary

• Achieved FY26 guidance with 33% year-over-year platform subscription revenue growth and positive underlying EBITDA in March 2026.

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

• The company is deeply embedded in utility workflows, leveraging proprietary data and high switching costs.

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

• Financial results and operational progress align with prior updates and guidance.

Financial highlights

• FY26 platform subscription revenue reached NZ$19.2m, up 33% year-over-year and 99% of target.

• Gross margin improved to 80% (from 69%), with platform subscription gross margin at 94%.

• EBITDA loss narrowed to -NZ$5.0m from -NZ$6.9m, with positive EBITDA in March 2026.

• Total FY26 revenue was NZ$26.6m, up 6% year-over-year.

• Ended FY26 with NZ$32.8m in cash and no debt.

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.

• Two new customer council-led software modules are progressing, with one entering beta testing within nine months.

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

• Expansion into Canada, international markets, and new verticals is planned.