IKE has disclosed 1H FY24 results, noting AU$10.5 million revenue, down 32%

ikeGPS Group Limited (ASX: IKE) has unveiled its 1H FY24 financial results, reporting revenue of approximately AU$10.5 million, down 32% compared to the prior year. Noteworthy figures include subscription revenue at about AU$5.1 million, a 24% YoY increase, and transaction revenue of approximately AU$3.7 million, down 60% from the previous year.

The gross margin for 1H FY24 was roughly AU$6.2 million, a 24% decrease from the prior year, with a gross margin percentage of 59%, up from 53% in the same period last year. The net loss for the period was around -AU$6.9 million, a significant shift from the AU$1.1 million profit in the previous year. CEO Glenn Milnes emphasized the company's strong positioning for the long term despite challenges, citing new customer wins and recurring subscription revenue growth.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com