Just like with ERD if it slipped down below 1x revenue someone would pop up to buy it.
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Looks like the SP is about to go below 60 cents.
Surely half year isn’t going to be that bad??
Big day tomorrow with results out
Is it make or break time ……but commentary is probably more important than numbers which aren’t going to be that flash
https://www.nzx.com/announcements/420434
Revenue of ~$10.5m (-32% vs pcp).
Strong ongoing growth in subscription revenue (+24% vs pcp).
Slow-down in transaction revenue due to delayed engineering projects with long-term customers, with volumes expected to resume.
IKE performance update for 1H FY24
ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to release an update for 1H FY24 to 30 September 2023 (all figures in NZD).
Highlights for the quarter:
Revenue 1H FY24 of ~$10.5m (-32% vs pcp).
Subscription revenue was ~$5.1m (+24% vs pcp).
Transaction revenue was ~$3.7m (-60% vs pcp).
Gross margin 1H FY24 of ~$6.2m (-24% vs pcp), reflected in the revenue mix above.
Gross margin percentage 1H FY24 of ~59% (up from pcp of ~53%).
Cash and receivables as at 30 September 2023 ~$16.3m, comprised of $10.2m cash and $6.1m receivables, with payables of $1.2m and no debt.
Headline numbers don’t look good will read the report later