What were the key financial highlights for ikeGPS Group (ASX:IKE) in FY26?

ikeGPS Group successfully met its FY26 guidance, reporting total revenue of NZ$26.6 million. A major highlight was achieving positive underlying EBITDA in March 2026, signaling a turn toward operational profitability. This performance was driven by a 33% increase in platform subscription revenue, which reached NZ$10.2 million for the full year.

Is ikeGPS Group (ASX:IKE) profitable now?

The company reached a significant milestone by achieving positive underlying EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) in the month of March.

How did the ikeGPS subscription business perform compared to last year?

Platform subscription revenue grew by 33% to approximately NZ$10.2 million, aligning with management's initial targets. This growth contributed to an Annual Recurring Revenue (ARR) of NZ$20.7 million at year-end, representing a 16% increase over the previous year.

What is driving the improvement in ikeGPS Group margins?

The company’s total gross margin expanded to roughly 81% in FY26. This was primarily driven by the high-value platform subscription segment, which operates at an 84% gross margin.

What role does AI play in the ikeGPS Group (ASX:IKE) growth strategy?

A key part of the company's operational growth is the deployment of PolePilot™, an AI-driven platform designed to automate the analysis of distribution power assets.

What is the FY27 outlook and guidance for ikeGPS Group?

Management has issued guidance for FY27 that anticipates similar high levels of growth for platform subscription revenue. This suggests the company expects to maintain its ~30% growth trajectory in its most profitable segment.

ikeGPS achieves positive EBITDA and strong FY26 growth

Written by Mahathir BayenaPublished Apr. 22 2026Last Updated Apr. 22 2026

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.