ikeGPS Reports Strong Subscription Growth and Solid FY25 Outlook
Company Announcements

ikeGPS Reports Strong Subscription Growth and Solid FY25 Outlook

ikeGPS Group Ltd (AU:IKE) has released an update.

ikeGPS Group Ltd, renowned for its growth in subscription-based services, has reported a significant year with 59 new U.S. subscription customers and a robust pipeline of contracts, including more than 3,900 new subscribers for their IKE PoleForeman platform, indicating strong momentum going into FY25. Despite a dip in transaction revenue in FY24, recurring subscription revenues remain high, accounting for 89% of the $21.1m revenue, with a 95% customer retention rate and a strengthened balance sheet featuring $15.4m in cash and no debt. Looking ahead, the company anticipates a 40% rise in subscription revenue and continued margin improvements due to a shift towards higher-margin subscription offerings.

For further insights into AU:IKE stock, check out TipRanks’ Stock Analysis page.

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App