IKE Wins Electric Utility Target Account in California

Find Out More At:
www.ikegps.com
350 Interlocken Blvd, Suite 250, Broomfield CO 80021, USA
Office: +1 303 222 3218
www.ikegps.com


For Immediate Release 22 November 2017
- IKE Wins Electric Utility Target Account in California –
Roll out follows recent major fiber & telecommunications customer win
IKE advises that it has won a material sales deployment for the IKE4 platform into an electric utility target account. The
headlines are:
- A second phase deployment of IKE4 systems into an investor-owned utility in California.
- Revenue from the order will be approximately $0.6M.
- Approximately 50% of revenue will be recognized in FY18, with the balance recognized in outer periods as
subscription revenue.
- IKE recently upgraded its FY18 IKE4 guidance from 40% to 70% YoY growth, or from approximately 300 to 360
IKE system sales in the year ending March 2018. This equated to an approximately $1m revenue upgrade.
- IKE has received orders for approximately 305 IKE4 systems YTD. Should various pipeline deals conclude
through the balance of 2H FY18 then IKE expects that full year volumes could materially exceed 360.
IKE CEO Glenn Milnes commented, “Specific to the electric utility side of the market, we are pleased to be further
deploying our cloud-based pole system across an organization considered to be a thought leader in the U.S. industry.
On entering the U.S. market several years ago, we focused initial sales efforts on California and have now been
successful selling into all four of the investor-owned utilities – who are the largest asset owners in the State.”

“As we have said, the initial IKE4 sales process takes patient account management to move these very large
infrastructure businesses from historic work practices to the IKE technology solution to manage their critical
infrastructure. This electric utility customer conducted a five-system pilot over the past 12 months. They have moved
forward with this larger deployment because with IKE4 they can bring more make-ready-engineering and pole auditing
capability in-house, as opposed to contracting external engineering groups. This customer assessed that IKE4 halves
their costs for distribution asset analysis alongside standardizing the way that their field teams collect data and manage
their network information in the back office. The IKE4 upgrade in October was on the back of winning a first phase
deployment for 112 systems into one of the world’s largest communications & fiber companies, who standardized on
IKE4 to speed up deployment of their U.S. fiber network based on a similar assessment of productivity and cost
benefits.”

Milnes added “Advances with other target account customers in the U.S. market provides us with confidence for the
potential to win more larger scale deployments. In terms of our overall business IKE4 is the biggest contributor to our
FY18 financial targets for revenue growth and to progress to cash breakeven operation. We continue to project that
these core metrics will be met.”

Further detail
IKE seeks to be the data standard for collecting, managing and analysing pole and overhead asset information for
electric utilities, communications companies and their engineering service providers. IKE’s target accounts are defined
as larger enterprise sales opportunities estimated to each have the potential to generate greater than $1M revenue.

ENDS
Contact: Glenn Milnes, CEO, +1 720-418-1936, glenn.milnes@ikegps.com