IkeGPS Group Limited (ASX: IKE), a substantial that secured a noteworthy NZ$3.7 million subscription agreement with a Fortune 150 Company, ranked among the top ten Investor-Owned Utilities (IoUs) in the United States. This contract signifies a significant leap forward as the company transitions its client from IKE's legacy product to the advanced PoleForeman structural analysis platform over five years.
Over the next half-decade, more than 1,000 engineers within this utility company will leverage IKE's PoleForeman platform, highlighting a tenfold increase in annual recurring revenue compared to the previous product. This elevation in subscription revenue, from approximately NZ$70,000 to NZ$700,000 per year, showcases the platform's enhanced value to the customer.
Moreover, this decision within the utility is anticipated to ripple across its network and ecosystem. It's expected that additional engineering firms and communication groups working within the IoU's framework will adopt IKE's PoleForeman, leveraging its structural analysis capabilities for designing distribution assets, thereby bolstering grid resiliency and network deployment in the forthcoming decades.
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
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 20, 2024
Nov 20, 2024
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.
