ikeGPS Group Limited (ASX:IKE) Announces FY25 Financial Results
Financial Performance
ikeGPS Group Limited reported total recognized revenue of NZ$25.2 million for FY25, representing a 19% increase compared to the prior corresponding period. The exit run rate of annual platform subscription revenue grew by 48% to NZ$17.6 million. Subscription revenue reached NZ$14.4 million, up 34% year-over-year. The company recorded a net comprehensive loss of NZ$16.3 million, with total cash and net receivables standing at NZ$15.4 million, consistent with the previous year.
Acquisition Approach
During the period, ikeGPS received an unsolicited, non-binding acquisition offer of NZ$1 per share, valuing the company at approximately NZ$165-170 million enterprise value. After evaluating the proposal, the Board concluded that the offer was not sufficiently supported by key shareholders and ceased further discussions.
Outlook
The company expects subscription revenue growth in FY26 to be 35% or greater. ikeGPS anticipates reaching EBITDA break-even on a run rate basis within the second half of FY26, supported by continued subscription growth and operating cost control.
Executive Comments
CEO Glenn Milnes stated, “Looking ahead to FY26 based on contracts in place and broader momentum in the company we expect our subscription revenue to continue to increase strongly at growth levels of 35% or greater, positioning us well for the medium and long term.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended ikeGPS Group. The Motley Fool Australia has recommended ikeGPS Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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