ikeGPS Group Posts Flat Fiscal Q1 Revenue

MT Newswires Live

Jul 29

ikeGPS Group (ASX:IKE, NZE:IKE) reported fiscal first-quarter revenue of around NZ$6.4 million, unchanged from a year earlier, reflecting interim softness in one-off and lower-margin services revenue, according to a Wednesday Australian and New Zealand bourse filing.

The company reported an exit run rate of platform subscription revenue of about NZ$22 million annualized, up 31% from a year ago.

It reported quarterly platform subscription revenue of around NZ$5.3 million, up 27% on the prior corresponding period, with gross margin improving to 82% from 75%.

The company had 476 subscription customers in fiscal first quarter, up from 441 in the prior corresponding period.

The company maintained its fiscal 2027 guidance, projecting about 35% annual recurring revenue growth.

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