ikeGPS 1H FY26 Financial Results

28/11/2025 08:31 NZDT, HALFYRP

Another strong period of growth (+47% Exit Run Rate of subscription revenue vs pcp)

FY26 guidance reiterated for ~35% or greater growth in platform subscription revenue and EBITDA breakeven on a run-rate basis

ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to provide its financial results for the six-months to 30 September 2025. All figures are in NZD, rounded to the nearest decimal.

Overall, the results are in line with the performance update already released to the market in late October.

Highlights include:

• Exit run rate (ERR) of platform subscription revenue ~NZ$19.4m annualized (+47% vs pcp).

• Strong growth of recognized platform subscription revenue to ~NZ$8.8m (+35% vs pcp).

• Total revenue of NZ$12.9m (+6% vs pcp), noting IKE’s lower margin services revenue component is down vs pcp because of short-term volatility in the fibre communications market.

• Reiteration of FY26 guidance for ~35% or greater growth in platform subscription revenue and EBITDA breakeven on a run-rate basis within 2H26.

• Gross margin of NZ$9.6m (+18% vs pcp).

• Gross margin percentage increased to 75% (up from pcp of 67%).

• Net loss of $4.3m (39% improvement from pcp)

• Cash operating expenses were materially the same as pcp, while executing the above growth.

• Launch of AI companion capability within the core IKE Office Pro product, called PolePilot , a game-changing AI-driven automation for electric utility distribution network analysis. This delivers material productivity gains for customers using IKE’s core platform, also driving increased ARPU for IKE.

• Total cash of NZ$34m as at 30 September 2025, with no debt, puts IKE in a strong financial position to execute the product roadmap and market development.

• In the period, IKE completed a significantly oversubscribed A$24 million capital raise (approximately NZ$26 million), demonstrating strong institutional and retail investor support.

• In September, IKE was elevated to the ASX All Ordinaries Index, which tracks the 500 largest companies listed on ASX by market capitalization.

Full commentary is set out in the announcement attached.