IKE Secures Major Contract, Projected to Bring NZ$19 million Revenue

Highlights:

• Significant Revenue Projection: ikeGPS Group Limited (NZX: IKE) secures a contract expected to generate approximately NZ$19 million over the next 36 months.
• Supporting Key Infrastructure: The contract will back a multi-year fiber and grid resiliency program for a major utility in the southwestern United States, starting in late July 2024.
• Strategic Growth and Market Focus: This deal is a crucial step towards IKE's goal of achieving EBITDA breakeven and reinforces its role in enhancing productivity for utilities focused on fiber build-outs and grid hardening across North America.

Multi-Year Fiber and Grid Resiliency Program

ikeGPS Group Limited (NZX: IKE) has announced a significant contract that is anticipated to generate approximately NZ$19 million in revenue over the next 36 months. This contract supports a multi-year fiber and grid resiliency initiative for a major utility company in the southwestern United States, with operations commencing at the end of July 2024.

Revenue and Growth Projections

The expected revenue from this contract will be delivered and recognized over the next three years, marking an important milestone towards IKE's goal of reaching EBITDA breakeven and sustaining high revenue growth. CEO Glenn Milnes expressed enthusiasm about the deal, highlighting its potential to enhance the company's platform transaction revenue stream significantly. He noted that the contract reflects the utility partner's confidence in IKE's technology and solutions.

Focus on Infrastructure Development

As fiber build-outs, grid resiliency, and grid hardening continue to be priorities for over 3,000 utilities across North America, IKE's products are designed to enhance productivity in these areas. Milnes emphasized that the market demand for such infrastructure projects is expected to persist for the next two to three decades. IKE remains committed to delivering exceptional value and customer experience to these critical infrastructure groups, reinforcing its position in the market.

This contract not only strengthens IKE's financial outlook but also underscores its role in supporting essential infrastructure development across the United States. As the company continues to expand its product offerings and secure key partnerships, it is well-positioned for sustained growth and success in the evolving utilities sector.

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