ikeGPS 4Q FY26 and Full Year FY26 Performance Update
23/04/2026 09:49 NZST, MKTUPDTEP
FY26 guidance materially delivered on both lines:
Positive underlying EBITDA achieved in the month of March 2026, and ~33% platform subscription revenue growth;
FY27 guidance for similar levels of growth for platform subscription revenue.
ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to provide a performance update for the 12 months to 31 March 2026. All figures are in NZD, rounded to the nearest decimal.
Highlights include:
• FY26 Platform Subscription Revenue ~NZ$19.2m (+33% vs pcp) — FY26 guidance of approximately 35% subscription revenue growth materially delivered.
• Positive underlying EBITDA achieved in the month of March 2026 — FY26 guidance delivered.
• FY27 guidance for similar levels of growth for Platform Subscription revenue.
• Exit Run Rate (ERR) of Platform Subscription Revenue ~NZ$20.7m annualised at 31 March 2026 (+18% vs pcp; +21% in constant currency). Noting one larger, long-term communications customer completed a project in 4Q aided by IKE technology. This was announced to the market early in the FY26 year. This national group remains a customer and excluding this project completion ERR Platform Subscription Revenue would have exited the year at +30% in constant currency.
• FY26 Total Revenue ~NZ$26.6m (+6% vs pcp)
• Gross margin percentage increased to ~81% (up from pcp of 69%). Platform Subscription Gross Margin ~94%.
• FY26 gross margin of ~NZ$21.4m (+23% vs pcp)
• Total Cash of ~NZ$33m (ahead of the ~NZ$32.3m reported at 3Q FY26), net receivables ~NZ$4.3m and no debt as at 31 March 2026, IKE remains well funded to execute its new product roadmap and go-to-market initiatives.
• 463 subscription customers in trailing 12 months at 31 March 2026; 83 new subscription customers added in FY’2026.
• Customer retention ~97% — IKE retains virtually all subscription customers year over year
• IKE PoleForeman annualised recurring revenue (ARR) has now grown to ~NZ$11m — achieved inside two years from product launch
• PolePilot - which is an AI automation platform built specifically for distribution power assets, was launched delivered a ~10% price increase across the entire IKE Office Pro subscription base with no churn — AI is generating validated revenue uplift in products and reducing costs in operations, this is not a roadmap
• IKE software is now deployed across all 50 US states; trusted by 8 of the 10 largest investor-owned utilities in North America and 5 of the 10 largest US communications companies
• More than 3,000 industry professionals attended IKE's National Electric Safety Code (NESC) webinar series in FY26, led by IKE’s Grant Glaus who now sits on the main Board of the NESC and various other Distribution sub-committees. This training covered over 800 organisations. A further 1,700+ engineers completed IKE in-person NESC and OSHA IKE-certification programmes across more than 500 organisations
• Rod Snodgrass appointed to the IKE Board as Non-Executive Director
The Company will discuss the results on a webinar with CEO Glenn Milnes at 11:00am AEDT/1:00pm NZDT today on the same day of the release – Thursday, 23 April 2026.
Registration for the investor webinar is available via the link below:
https://us02web.zoom.us/webinar/register/WN_Vi0_lBlcQ4q1pCmxHolZxA
Questions can be pre-submitted to simon@nwrcommunications.com.au or asked via the Q&A function during the webinar. After registering, you will receive a confirmation email containing information about joining the webinar.