ikeGPS Group 3Q FY26 Performance Update

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For immediate release, 29 January 2026
ikeGPS Group
3Q FY26 Performance Update

Further growth & customer acquisition (+35% Exit Run Rate of subscription revenue vs pcp)
FY26 guidance reiterated for ~35% or greater growth in platform subscription revenue
New product initiatives tracking to plan

ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to provide a performance update for the
nine months to 31 December 2025. All figures are in NZD, rounded to the nearest decimal.

Highlights include:
• Exit Run Rate (ERR) of platform subscription revenue ~NZ$21.1m annualized (+35% vs pcp).
• Strong growth of recognized platform subscription revenue in the nine-month period to 31
December 2025 of ~NZ$14.1m (+38% vs pcp).
• Total revenue of ~NZ$19.8m (+7% vs pcp).
• Reiteration of FY26 guidance for ~35% or greater growth in platform subscription revenue and
EBITDA breakeven on a monthly run-rate basis by the end of FY26.
• Gross margin percentage increased to ~79% (up from pcp of 68%).
• Total cash of NZ$32.3m as at 31 December 2025, net receivables of NZ$2.9m, with no debt. This
puts IKE in a strong financial position to execute its product roadmap and market development.

Commenting on further company progress, IKE CEO & Managing Director
Glenn Milnes said:
“3Q26 was another strong quarter for IKE across multiple dimensions - operational performance,
product development, sustainable balance sheet strength, and team capability. Noting also that 4Q26 to
date has seen a strong start in terms of subscription software sales.
We note that the continued development of the two new customer council-led subscription software
modules is progressing to plan. For Module One, we continue to target initial beta customer testing
within the next nine months. Work on Module Two is underway also, with prototyping completed as we
shift into full-scale development. New AI-first development and work practices are very real, so it is an
exciting time to be a growth company building these new products with strong product/market fit.
As previously stated, the business continues to execute on its strategic plan, and we remain confident
in delivering FY26 guidance.
We note that the new IKE PoleForeman design software product released less than two years ago has
now passed NZ$10m recurring revenue on an ERR basis.
The macro-market environment for IKE's business remains highly favourable. Across North America,
electric utilities, communications companies, and their engineering service providers are facing
unprecedented infrastructure investment requirements driven by grid modernization, renewable energy

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integration, electrification of transportation, deployment of 5G and fibre networks, and aging
infrastructure replacement needs.
These tailwinds are translating into strong and sustained demand for IKE's platform. Our sales pipeline
remains robust, and we continue to add new customers at a healthy pace, while simultaneously
expanding within our existing customer base. The launch of the PolePilot™ AI platform adds another
compelling dimension to our value proposition, including a material price increase to IKE Office Pro, and
we expect it will accelerate both new customer acquisition and expansion within existing accounts.
With a strong balance sheet, leading product capabilities, an experienced and capable team, and
favourable market dynamics, IKE is well positioned to deliver sustained growth and capture an
increasing share of the large and growing market for electric utility infrastructure software solutions.”

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Performance summary
Performance across the business is set out in the following charts and table:


Takeaways (NZ$000)
• +35% (+36% in constant
currency) YoY growth in the
Exit Run Rate (ERR) of annual
platform subscription revenue
• +39% Compound Annual
Growth Rate (3 years)
• IKE PoleForeman ERR has now
exceeded +NZ$10M, from
launch two years ago.




Takeaways (NZ$000)
• +38% YoY growth platform
subscription revenue
• ARR added in 3Q 2026
~+NZ$2.1m
• New customer adds, upsells
and roll out of IKE Office Pro
with PolePilot driving recurring
revenue growth




Takeaways
• +30% YoY growth
• Strong seat growth across all
product lines driven by new
sales, upsells and cross sells.

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Takeaways
• Services revenue has
reduced vs pcp as
forecasted, however
margin has increased.
• This is the lower margin
element for IKE that
primarily supports
services for
communications
companies deploying
fibre.
• This component of
IKE’s revenue mix is
expected to continue to
have volatility. However,
margins are positive,
growing to ~30%, whilst
delivering significant
value to customers and
IKE’s in-market value
proposition


Takeaways (NZ$000)
• Recurring subscription
and re-occurring
transaction revenues
dominate IKE’s
revenue mix, up to
90% for YTD FY26.

• An expectation for
healthy growth in the
FY26 period, including
~35% or greater
growth in subscription
revenue.

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* Noting the pcp customer number included >40 small legacy PoleForeman customers who were classified as lost at the end
of FY25, but who represented in total less than $100k of ARR.
ENDS
About IKE
We are IKE, the PoleOS™ Company. IKE aims to become the standard for collecting, analyzing and
managing pole and overhead asset information for electric utilities, communications companies, and
their engineering service providers.
The IKE platform enables electric utilities, communications companies, and their engineering service
providers to enhance speed, quality, and safety in the construction and maintenance of distribution
assets.
The core 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 IKE's software.
Contact:
Glenn Milnes
CEO & Managing Director
+1 720-418-1936
glenn.milnes@ikegps.com
Simon Hinsley
Investor Relations
+61-401-809-653
simon@nwrcommunications.com.au

ikeGPS Group Limited
329 Interlocken Parkway, Suite 120, Broomfield CO 80021, USA
Office: +1 303 222 3218
www.ikegps.com