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ikeGPS Group Ltd ( (AU:IKE) ) has provided an update.
ikeGPS Group Ltd (IKE) reported strong performance for the nine-month period ending December 31, 2024, with significant growth in annual subscription revenue, totaling NZ$15.7 million, a 43% increase from the previous year. The company closed NZ$44 million in contracts, leading to a substantial increase in cash and net receivables by NZ$4 million for the quarter, and gross margins improved from 58% to 68%, driven by a shift towards high-margin subscription products. This performance underscores IKE’s successful strategy in expanding its footprint in the North American market, leveraging macro-market tailwinds, and investing in product development. The IKE PoleForeman product has been particularly successful, contributing to the addition of 1,270 new subscription licenses and significant ARR growth. IKE anticipates continued growth in their subscription revenue by over 40% in FY25, supported by ongoing customer deployments and strong market demand.
More about ikeGPS Group Ltd
ikeGPS Group Ltd (IKE) operates in the technology industry, focusing on providing software and hardware solutions that support infrastructure and utility sector operations. Their market focus primarily targets North American tier-1 electric utilities and communications companies, offering products such as IKE PoleForeman for structural analysis and other high-margin subscription services.
YTD Price Performance: 2.91%
Average Trading Volume: 33,399
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$84.23M
Find detailed analytics on IKE stock on TipRanks’ Stock Analysis page.
