IKE wins $1.6m customer contract extension

FOR IMMEDIATE RELEASE
11 October 2021




IKE wins $1.6m customer contract extension





The IKE platform allows electric utilities, communications companies, and their
engineering service providers to increase speed, quality, and safety for the
construction and maintenance of distribution assets.
The revenue engine for IKE is driven by the number of enterprise customers
subscribing to the IKE platform and the volume of assets (called Transactions) being
processed through the IKE software.

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IKE wins $1.6m customer contract extension
ikeGPS Group Limited (ASX/NZX:IKE) or IKE, the company setting the standard for collecting,
managing and analysing pole and overhead asset information for electric utilities,
communications companies and their engineering service providers, is pleased to announce:
+ That it has signed an extension to a contract with a communications customer
supporting fibre infrastructure deployment in mid-west regions of the U.S.
+ This follow-on contract will generate approximately $1.6m of transaction revenue in the
coming 12 months.
+ It is expected that approximately 70% of this contract value will be recognized in IKE’s
FY22 (the period ending 31 March 2022) and the additional approximately 30% in IKE’s
FY23.
+ It is expected that this contract level will recur in subsequent years. It is also expected
that further expansion contracts will follow with this entity in IKE’s FY22.
+ This customer will utilise the IKE platform to assess pole assets prior to deploying its
fibre network.

IKE CEO Glenn Milnes commented, “The expansion across this customer further demonstrates
the value that the IKE platform provides to communications groups, and our ability to expand the
use of our platform over time across targeted groups. This specific entity has been a customer
for several years, growing from an initial annual account size of tens of thousands of dollars to a
multi-million dollar per annum account today. The long-term revenue opportunity with this group
is substantial.
Today’s announcement follows another $1m contract win announced 5 October 2021, with a
separate customer, who is also deploying fibre networks in the U.S. market.
These deals and our broader momentum gives us a high degree of confidence for strong
revenue growth this financial year.”

ENDS

About ikeGPS
We’re IKE, the PoleOS Company. IKE seeks to be the standard for collecting, analysing and
managing pole and overhead asset information for electric utilities, communications
companies, and their engineering service providers.

Contact:
Simon Hinsley
Investor Relations
+61-401-809-653
simon@nwrcommunications.com.au

Glenn Milnes
CEO
+1 720-418-1936
glenn.milnes@ikegps.com
ikeGPS Group Limited
350 Interlocken Blvd, Suite 390, Broomfield CO 80021, USA
Office: +1 303 222 3218
www.ikegps.com