ikeGPS Group (ASX:IKE) has delivered on its FY26 guidance, marking a year of financial transition and operational growth.
The company reported an achievement in its bottom line, reaching positive underlying EBITDA in March.
The milestone was bolstered by a robust 33% rise in platform subscription revenue, which reached approximately NZ$10.2 million for the full year, aligning closely with the group’s initial targets.
The company’s momentum is further evidenced by its annual recurring revenue, which closed the period at roughly NZ$20.7 million.
This represents a 16% increase compared to the previous year, or 21% on a constant currency basis.
Total revenue for FY26 climbed to NZ$26.6 million, while gross margins saw a healthy expansion to roughly 81%.
The margin improvement was driven largely by the high-value platform subscription segment, which boasts a gross margin of approximately 84%.
Operational highlights include the continued expansion of PoleForeman, which grew its ARR to NZ$11 million, and the deployment of the AI-driven PolePilot platform.
With a customer retention rate of approximately 97% and a presence in all 50 US states, ikeGPS is well-positioned for the future.
Looking ahead to FY27, the group has issued guidance anticipating similar high levels of growth for its subscription revenue.