ikeGPS Group Ltd (AU:IKE) has released an update.
ikeGPS Group Ltd has secured NZ$4m in additional contracts for its IKE PoleForeman software with major U.S. electric utilities, boosting its total contract value to NZ$12m since the product’s launch four months ago. The software is now being utilized by approximately 3,700 engineers across 47 utility groups, including the largest and a Fortune 500 electric utility in the U.S., with an expectation of further market penetration. With a high retention rate and significant lifetime value anticipated, IKE is poised for substantial subscription revenue growth in the coming fiscal year.
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