ikeGPS 1H FY24 Financial Statements

Consolidated
Financial Statements
FY24 Interim Report
For the six month period ended
30 September 2023
ikeGPS Group Limited

Contents
Consolidated interim statement of profit or loss and other comprehensive income1
Consolidated interim statement of changes in equity2
Consolidated interim balance sheet3
Consolidated interim statement of cash flows4
Notes to the consolidated interim financial statements5 to 13

Unaudited
6 months to
September 2023
Unaudited
6 months to
September 2022
Continuing operations
NZ$000NZ$000
Operating revenue410,519 15,417
Cost of sales(4,344) (7,248)
Gross profit
6,175 8,169
Other income497 196
Foreign exchange gains223 2,239
Movement of fair value assets and liabilities473 2,723
Total other income, gains, and (losses)
393 5,158
Support costs(678) (512)
Sales and marketing expenses(3,970) (3,902)
Research and engineering expenses(5,308) (3,798)
Corporate costs(3,594) (4,002)
Expenses4
(13,550) (12,214)
Operating profit/(loss)
(6,982) 1,113
Net finance (expense)132 (5)
Net profit/(loss) before income tax
(6,850) 1,108
Income tax expense--
Profit/(loss) attributable to owners of ikeGPS Group(6,850) 1,108
Other comprehensive gains
Exchange differences on translation of foreign operations443 2,888
Comprehensive income/(loss)(6,407) 3,996
Basic and diluted earnings/(loss) per share(0.04)$ $0.03
The accompanying notes form part of, and should be read in conjunction with, these financial statements.
Consolidated interim statement of profit or loss and
other comprehensive income
1

Share
capital
Accumulated
losses
Share based
payment
reserve
Foreign
currency
translation
reserveTotal
NZ$000NZ$000NZ$000NZ$000NZ$000
Opening balance at 1 April 2022 (audited)
104,751 (67,674) 2,768 (640) 39,205
Profit for the period-1,108 --1,108
Currency translation differences---2,888 2,888
Total comprehensive (loss)/ income
-1,108 -2,888 3,996
Issue of ordinary shares- - - --
Recognition of vesting of share-based options--838 -838
Issue of shares from exercise of share options7 -(7) --
Share based options forfeited during the period-20 (67) -(47)
Equity movements arising from business combinations
201 -(201) --
Total transactions with owners
208 20 563 -791
Balance at 30 September 2022 (unaudited)
104,959 (66,546) 3,331 2,248 43,992
Share
capital
Accumulated
losses
Share based
payment
reserve
Foreign
currency
translation
reserve
Total
NZ$000NZ$000NZ$000NZ$000NZ$000
Opening balance at 1 April 2023 (audited)
105,118 (75,492) 3,699 610
33,935
Loss for the period-(6,850) --(6,850)
Currency translation differences---443 443
Total comprehensive income
-(6,850) -443 (6,407)
Recognition of vesting of share-based options--471 -471
Issue of shares from exercise of share options57 -(57) --
Share based options forfeited during the period-71 (121) -(50)
Equity movements arising from business combinations
201 -(165) -36
Total transactions with owners
258 71 128 -457
Balance at 30 September 2023 (unaudited)105,376 (82,271) 3,827 1,053 27,985
The accompanying notes form part of, and should be read in conjunction with, these financial statements.
Consolidated interim statement of changes in equity
2

Consolidated interim balance sheet
Unaudited
September
2023
Audited
March
2023
ASSETS
NZ$000NZ$000
Current assets
Cash and cash equivalents10,233 18,048
Trade and other receivables6,082 5,212
Prepayments1,441 902
Contract costs311 295
Financial instruments266 193
Lease assets12
Inventory1,742 2,472
Total current assets
20,075 27,134
Non-current assets
Property, plant and equipment3,347 2,798
Intangible assets513,964 13,104
Inventory224 238
Lease assets1,415 -
Total non-current assets
18,950 16,140
Total assets
39,025 43,274
LIABILITIES
Current liabilities
Trade and other payables1,197 2,284
Employee entitlements1,233 1,326
Current tax payable8 8
Provision10271 262
Other liabilities6277 534
Lease liabilities305 14
Deferred income6,256 4,728
Total current liabilities
9,547 9,156
Non-current liabilities
Lease liabilities1,172 -
Deferred income321 183
Total non-current liabilities
1,493 183
Total liabilities
11,040 9,339
Total net assets27,985 33,935
EQUITY
Share capital8105,376 105,118
Share based payment reserve3,827 3,699
Accumulated losses(82,271) (75,492)
Foreign currency translation reserve1,053 610
Total equity27,985 33,935
The accompanying notes form part of, and should be read in conjunction with, these financial statements.
NZ (New Zealand Time)NZ (New Zealand Time)
DirectorDate: 28 November 2023 DirectorDate: 28 November 2023
3

Consolidated interim statement of cash flows
Unaudited
6 months to
September 2023
Unaudited
6 months to
September 2022
NZ$000NZ$000
Operating activities
Receipts from customers11,189 17,257
Payments to suppliers and employees(16,475) (16,304)
Payment of low value and short term leases(24) (80)
Government Grants received97
Interest paid- (17)
Net cash from/(used in) operating activities9
(5,213) 856
Investing activities
Purchases of property, plant, and equipment(1,209) (1,113)
Additions to intangible assets(1,693) (1,490)
Payment for financial instruments- 36
Interest received177 8
Net cash used in investing activities
(2,725) (2,559)
Financing activities
Payments of principal portion of lease liabilities(138) (141)
Proceeds from issuance of shares--
Net cash (used in)/from financing activities
(138) (141)
Net (decrease)/increase in cash and cash equivalents
(8,076) (1,844)
Cash and cash equivalents at 1 April18,048 24,354
Effect of exchange rate fluctuations on cash held261 2,957
Cash and cash equivalents at the end of the period10,233 25,467
The accompanying notes form part of, and should be read in conjunction with, these financial statements.
4

1. Reporting entity
ikeGPSGroupLimited (the “Company”) isalimited liability company domiciledandincorporated inNew
Zealand,registeredunderthe CompaniesAct1993andlistedontheNewZealandStockExchange(“NZX”)
andAustralianSecuritiesExchange(“ASX”).The Company is anFMCreportingentityforthepurposesofthe
FinancialMarketsConductAct2013.The interim financialstatementsforthe six monthsended30
September2023comprise the Companyandits subsidiaries(togetherreferredtoas the“Group”),which
include ikeGPS Limited and ikeGPS Inc.
The principal activityoftheGroupis thatofdesign,sale,anddeliveryofa solutionforthe collection, analysis,
and management of distribution assets for electric utilities and communications companies.
The consolidated interim financialstatementswereauthorisedforissuebytheDirectorson29November
2023.
2. Basis of preparation
The principalaccountingpolicies applied in the preparationoftheseinterim consolidated financialstatements
aresetoutbelow.Thesepolicies havebeen consistentlyappliedtoall theperiods presented,unlessotherwise
stated.
Basis of measurement
Theseunauditedinterim financialstatementsforthe six monthsended30September2023havebeen
preparedinaccordancewithNewZealand GenerallyAcceptedAccountingPractice(“NZGAAP”)andNZIAS
34, Interim Financial Reporting.
The consolidated financialstatementshavebeenpreparedonthe historicalcostbasis with theexceptionof
certain financial instruments, which are measured in accordance with the specific relevant accounting policy.
Theseunauditedinterim financialstatements donot includeall thenotesofthetypenormallyincludedin an
annualfinancialreport.Accordingly,thisreportshouldberead inconjunctionwith theauditedfinancial
statementsoftheGroupforthe financial yearended31March2023,whichwerepreparedinaccordancewith
theNewZealand equivalentstoInternationalFinancialReporting Standards(NZIFRS).All significant
accountingpolicies havebeenappliedonabasisconsistentwith thoseusedin theauditedfinancial
statements of the Group for the year ended 31 March 2023.
Critical estimates and judgements
The preparationoffinancialstatementsrequiresmanagementtomakejudgements, estimatesand
assumptions thataffectthe applicationofaccountingpoliciesandthereportedamountsofassets,liabilities,
income and expenses. Actual results may differ from these estimates.
Estimatesand underlyingassumptions arereviewedonanongoingbasis. Revisionstoaccountingestimates
are recognised in the period in which the estimate is revised and in any future periods affected.
Inpreparingthese condensedinterim financialstatements,the significantjudgementsmadebymanagement
in applying theGroup’saccountingpoliciesandthekeysourcesofestimationuncertaintywerethe same as
those that appliedtothe consolidated financialstatementsforthe yearended31March2023,unless
separately identified in the notes.
Notes to the consolidated interim financial statements
5

Notes to the consolidated interim financial statements
Notwithstanding, the Group has prepared cash flow forecasts and sensitivity analyses that indicate cash-on-
hand at period-end of NZ$10.2M, combined with the net cash flows from operations, will enable the Group to
continue operating as a going concern for at least twelve months from the date of authorising these
consolidated financial statements.
The considered view of the Board Directors is that the going concern assumption continues to be valid, and
these financial statements have been prepared on that basis. This view has been reached after making due
enquiry and having regard to the circumstances that the Directors consider will occur, and that are reasonably
likely to affect the Group, during the period of one year from the date of approving these financial statements.
The Group recorded operating loss of NZ$6.9M for the period ended 30 September 2023 (2022: NZ$1.1M
profit) and is expected to make losses in the following period.
2. Basis of preparation (continued)
Attheendoftheperiod,theGrouphasreviewedthe cashgeneratingunit(CGU)carryingamounts,key
assumptions, and estimates for indicators of impairment. The Directors have identified the following CGUs:
+ CGU1 – IKE Core platform
+ CGU2 – Spike
+ CGU3 – IKE Structural
+ CGU4 – IKE Insight
TheDirectorsdeterminedthattherehavebeennosignificant changessincethe31March2023Annual
Report for CGU1, CGU2, and CGU3.
However,theforecastedsalesofCGU4- IkeInsightproductscontinuetobedelayed,andtherevenueforthe
period was belowforecast. Therefore,Directorshavedeterminedthistobean indicatorofpotential
impairment for the period.
CGU4is an early-stagebusinesssegmentandtechnology thatIKEacquired inJanuary2021andwas
determined tohavea carrying valueof$7.5Mincludinggoodwill at theendoftheperiod.Futurecashflows
areforecastedbasedonafive-yearbusinessmodel, with thebusinessforecasting approximately$0.6m
revenuein thenext12months,andwithcontinuing stronggrowthratesin Year2 toYear5 at an averageof
117%andoperatingexpenses reflectingthecurrent businessplan.A pre-taxdiscountrateof35.7%wasused
toestablish the recoverableamountona value inusebasis.Indeterminingthe terminal value, theGroup
applieda 2%growthrate.TheDirectorshaveconcludedthatnoimpairmentexistsasCGU4continuestohave
a useful life, and the carrying value does not exceed the value in use.
Sensitivity analysis wasperformedonkeyassumptionsforCGU4.Animpairmentwouldneed tobe
considered if the year-on-year growth rate was 4% lower than forecasted.
Impairment of non-financial assets
Theforecastedfinancial performanceofCGU4requiresjudgements tobemadeonrevenuegrowth, operating
cost projections,longsalescyclefornewtechnology adoption,andmarketopportunityfortheproduct.It is
sensitive to changes in the assumptions outlined and actual results may be substantially different.
Going concern
6

Notes to the consolidated interim financial statements
NZ$000NZ$000
Platform Transactions
IKE Analyze revenue3,747 9,459
Cost of sales(3,040) (5,844)
Contribution
707 3,615
Platform Subscriptions
Platform as a Service revenue1,745 1,434
908 941
Subscription revenue2,444 1,744
Cost of sales(638) (489)
Contribution
4,459 3,630
Hardware and other services
Hardware and accessories revenue1,365 1,733
Other service revenue310 106
Cost of sales(666) (915)
Contribution
1,009 924
Total Operating Revenue10,519 15,417
Total Cost of Sales(4,344) (7,248)
Total Gross Profit6,175 8,169
Sales and marketing costs (3,970) (3,902)
Net attributable (other corporate income and expenses)(9,055) (3,159)
Net profit/(loss) before tax (6,850) 1,108
IKE Structural pole loading software licenses and subscription revenue
Platform transactions:
+ the IKE Platform solution where customers use the functionality of IKE Office and if applicable
the IKE Device,
Platform subscriptions:
Hardware and other services:
+ Other services including training and deployment.
The segment information provided to the CEO and Board of Directors for the six months ended 30 September
2023 was as follows:
The Group derives its revenue from:
+ IKE Device and Spike device sales,
+ IKE Analyze revenue by providing an end-to-end technical solution for customers; IKE captures and
analyses pole loading and make-ready engineering assessments, or customers capture pole data
and transact on the platform,
+ transactional revenue by analysing pole data through an artificial intelligence and machine
learning platform.
+ pole loading software licences and ongoing subscriptions for maintenance and support.
3. Operating segments
Unaudited
6 months to
September 2022
TheCEOisassessedtobethe Chief Operating Decision Maker(CODM),who regularlyreviewfinancial
informationby productandgrossmargin.Reportingofoverheadsandbalancesheetposition isnot
undertakenata levellower than theGroupasa whole. Geographically,revenueis substantiallygeneratedin
the United States of America.
Unaudited
6 months to
September 2023
7

4. Revenue and expenses
Revenue
Unaudited
6 months to
September
2023
Unaudited
6 months to
September
2022
NZ$000NZ$000
Sale of product (point in time)1,365 1,733
Platform as a Service (over time and point in time)1,745 1,434
IKE Analyze (point in time)3,747 9,459
IKE Insight (point in time)- -
IKE subscription (over time)2,444 1,744
Pole loading licence and subscription (over time and point in time)908 941
Services (point in time)310 106
Total operating revenue
10,519 15,417
Government grants
1
97 192
Other income- 4
Total other income
97 4
Fair value movement on other liabilities- 2,261
Fair value movement on financial instruments73 462
Total movement of fair value assets and liabilities
73 2,723
Operating expenses
Amortisation of intangible assets1,186 827
Depreciation
2
256 228
Total amortisation and depreciation
1,442 1,055
Audit of financial statements113 99
Employee benefit expense8,124 7,486
External contractors and consultants1,237 777
Employee benefit, contractors and consultants expense capitalised
3
(1,434) (1,490)
Share-based payment421 684
Operating lease expenses
4
109 78
Direct selling and marketing
5
1,532 1,462
Movement of sales tax provision- -
Impairment of inventories- 54
Other operating expenses
6
2,006 2,009
Total operating expenses
13,550 12,214
Operating expenses consist of operations, sales, marketing, engineering, research, and corporate costs.
Notes to the consolidated interim financial statements
8

4. Revenue and expenses (continued)
5. Intangible assets
Development
assets
Work in
progressPatentsGoodwill
Customer
contracts,
relationships,
trademarks
Training
materialsTotal
NZ$000NZ$000NZ$000NZ$000NZ$000NZ$000NZ$000
Cost
Balance at 1 April 202218,241 1,674 174 3,309 667 188 24,253
Additions-2,998 ----2,998
Transfers1,787 (1,787) -----
Disposals/Expensed-(68) ----(68)
Exchange differences1,036
118
-380 79 22 1,635
Balance at 31 March 202321,064 2,935 174 3,689 746 210 28,818
Balance at 1 April 202321,064 2,935 174 3,689 746 210 28,818
Additions-1,466 -264 -1,730
Transfers56 (56) -
Disposals(24) (24)
Exchange differences554 20 -131 31 8 744
Balance at 30 September 202321,674 4,341 174 3,820 1,041 218 31,268
Amortisation and impairment losses
Balance at 1 April 20229,677 -174 -219 48 10,118
Amortisation for the year2,086 ---128 21 2,235
Impairment61 --2,969 --3,030
Exchange differences299 ---26 6 331
Balance at 31 March 202312,123 -174 2,969 373 75 15,714
Balance at 1 April 202312,123 -174 2,969 373 75 15,714
Amortisation for the period1,079 --86 35 1,200
Impairment-------
Exchange differences249 -115 24 2 390
Balance at 30 September 202313,451 - 174 3,084 483 112 17,304
Carrying amounts
At 31 March 20238,941 2,935 - 720 373 135 13,104
At 30 September 20238,223 4,341 - 736 558 106 13,964
Notes to the consolidated interim financial statements
1.Government grants were payments received under the research and development tax incentive scheme
relating to FY22 research and development costs and the NZTE International Growth Fund.
2.Total depreciation for the period is $868k (2022: $648k), comprised of depreciation on fixed assets of
$716k (2022: $524k) and depreciation on leased assets of $152k (2022: $124k). Engineering and research
expenses included $105k (2022: $104k) and corporate costs included $152k (2022: $124k) of depreciation on
leased assets under NZ IFRS 16. The balance of depreciation totalling to $611k (2022: $420k) is included in
cost of sales.
3. Relates to employee benefit expenses, external contractors, and consultants’ expenses that are directly
attributable to the development of intangible assets and have been capitalised.
4.Relates to short term and low value leases and common area maintenance costs.
5. Direct selling and marketing expenses includes expenses incurred mainly in relation to promotional
activities such as commissions, travel, and other direct marketing expenses.
6. Other operating expenses include corporate advisory, travel, engineering, facilities, and IT costs.
9

6. Other liabilities
Unaudited
6 months to
September
2023
Audited
year ended
March
2023
NZ$000NZ$000
Accrued liabilities for services277 534
277 534
Accrued liabilities for services
7. Foreign currency risk management
March 2023
Carrying amount
in USD
Carrying amount
in AUD
Carrying amount
in USD
Carrying amount
in AUD
US$'000AU$'000US$'000AU$'000
Cash and cash equivalents
2,526 4,008 5,321 5,615
Trade and other receivables
3,706 - 3,147 -

Trade and other payables
(264) (3) (882) (9)
Carrying amount
Change in USD
rate
Effect on profit/
loss before tax
Sensitivity analysisUS$'000%NZ$'000
10%
(903)
-10%
1,104
10%
(989)
-10%
1,208
Carrying amount
Change in AUD
rate
Effect on profit/
loss before tax
AU$'000%NZ$'000
10%
(391)
-10%
478
10%
(549)
-10%671
Notes to the consolidated interim financial statements
Otherliabilities are obligationsfrom prioryearbusinesscombinations andwereinitiallyrecordedat fair value.Theyaredeferred
consideration and are subsequently measured at amortised cost.
TheGrouphasemployment agreementsthatresultincashpayments beingmadetocertainstaffattheendofa service period.The
expenseisaccruedasservicesaredeliveredandpaymentismadeattheendoftheservice period.Theliabilitywasinitiallymeasuredat
fair value and subsequently measured at amortised cost.
September 2023
March 20235,606
TheGroupisexposedtoforeigncurrencyriskonitsrevenueanda significantportion ofitsexpensesthataredenominatedinUSD,
whichisdifferenttotheGroup’spresentationalandparent’s functional currencyNZD.Additionally,theinstitutionalplacementandshare
purchaseplancompleted duringthe2022financialyear waspredominantlyinAUD,creatingadditionalforeigncurrencyriskexposure.
Therefore, the Group has purchased AUD/USD foreign exchange options to mitigate the risk on its AUD cash holdings.
If the NZD strengthened / weakened against the USD or AUD by 10% at 30 September 2023, the effect on profit / loss is as follows:
September 20235,967
March 20237,586
September 20234,005
10

8. Contributed equity
Share capital
Unaudited
6 months to
September
2023
Audited
year ended
March
2023
NZ$000NZ$000
On issue at 01 April105,118 104,751
Issued under share placement--
Issued under retail entitlement offer--
Less listing costs offset against issue proceeds- -
Exercise of share options57 27
Issued as part of business combination201340
Total share capital105,376 105,118
Share capital on issue
QtyQty
Fully paid total shares at beginning of year159,731,745 159,296,738
New ordinary shares offered- -
Ordinary shares issued on settlement of options28,241 9,811
Ordinary shares issued as part of business combination264,352 425,196
Fully paid ordinary shares160,024,338 159,731,745
9. Reconciliation of operating cash flows
Unaudited
6 months to
September
2023
Unaudited
6 months to
September
2022
NZ$000NZ$000
Profit/(loss) for the period(6,850) 1,108
Less investment interest received(177) (17)
Non-cash items included in net profit/loss
Depreciation868 648
Amortisation of intangible assets1,186 827
Interest accrued- (9)
Impairment of inventories- 54
Raw materials and finished goods written down22 85
Share based payment expense729 792
Write off of obsolete materials and assets77 168
Fair value movement(73) (2,723)
Finance lease interest45 -
Unrealised foreign exchange (gain)/loss(210) -
Foreign exchange (gains)(443) (3,029)
2,201 (3,187)
Add/(less) movement in working capital items
Decrease in trade and other receivables(992) 1,076
(Increase) in inventories744 (689)
Decrease/(increase) in prepayments(558) 133
Increase/(decrease) in trade and other payables(1,187) 1,341
Increase in deferred revenue1,662 792
Increase in other liabilities(73) 272
(Decrease) in provision110 (41)
Increase in employee entitlements(93) 68
(387) 2,952
Net cash from/(used in) operating activities(5,213) 856
Notes to the consolidated interim financial statements
11

10. Provisions
Corporate Tax
Unaudited
6 months to
September
2023
Audited
year ended
March
2023
NZ$000NZ$000
Opening balance262 -
Provision added-262
Provision used--
Foreign exchange movement9 -
Closing balance271 262
11. Related parties
Thegroupissued994,667unlistedshareoptionsatNZD$0.79to keymanagementduringtheperiod,in
accordance with the ikeGPS Group Limited Employee Share Scheme.
TheGrouphasidentifieda potentialtax obligation linkedtoa seriesofintercompany transactions.Asthe
transactions have occurred the Group considers it to be more likely than not the obligation exists.
Notes to the consolidated interim financial statements
12

ikeGPS Group Limited
Level 2, 79 Boulcott Street
Wellington Central
Wellington, 6011
Telephone: +64 4 382 8064
Directors of ikeGPS Group Limited
Alex Knowles
Rick Christie
Glenn Milnes
Fred Lax
Mark Ratcliffe
Roz Buick
(appointed director effective 1 November 2023)
Legal Advisers
Chapman Tripp
Level 6, 20 Cuxtomhouse Quay
PO Box 993
Wellington, 6140
Telephone: +64 4 499 5999
Auditor
Grant Thornton
Level 15, Grant Thornton House
215 Lambton Quay
PO Box 10712
Wellington, 6143
Telephone: +64 4 474 8500
Share Registrar
Link Market Services Limited
PO Box 91976, Auckland, 1142
Level 30, PwC Tower
15 Customs Street West, Auckland
Telephone: +64 9 375 5998
Bankers
Bank of New Zealand
Level 4, 80 Queen Street,
Auckland,1010
Private Bag 39806,
Wellington Mail Centre,
Lower Hutt, 5045
www.ikegps.com
13

---

FOR IMMEDIATE RELEASE, 29 November 2023

1H FY24 Financial Statements
Revenue of ~$10.5m (-32% vs pcp).
Strong ongoing growth in subscription revenue (+24% vs pcp).
Short-term slow-down in transaction revenue due to delays in engineering projects with long-term
customers, with multi-year volumes expected to resume.
Cost reductions executed in Q3 to accelerate time to EBITDA breakeven.

IKE financial results for 1H FY24
ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to release the financial results for 1H
FY24 to 30 September 2023 (all figures in NZD).
Highlights for the half year, with results in line with the performance update of 26
October 2023:
+ 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%).
+ Net loss was ~ -$6.9m (pcp $1.1m profit). This change was primarily due to:
+ Gross margin of $6.2M (-~$2m vs pcp)
+ Foreign exchange and asset fair value movements of $0.3m (-~$4.7M vs pcp).
+ Cash and receivables at 30 September 2023 of ~$16.3m, comprised of $10.2m cash and
$6.1m receivables, with payables of $1.2m and no debt.

Commentary and outlook
IKE CEO Glenn Milnes commented, "As communicated to the market in October, 1H FY24 was a
mixed period at IKE. New customer wins (40 customers YTD) and growth in recurring
subscription revenue was strong, positioning the business well for the long term. Net churn of
customers at <4% evidence the stickiness of IKE products. However, transaction revenue fell for
the first time. This slow-down was well signaled to the market, with several major IKE customers
in the U.S. communications segment having network projects slowed in the short-term, mostly
because of unrelated regulatory impediments or with short-term disputes with electric utilities.
These long-term customers are not lost, some have resumed placing contracts in Q3 or are
communicating that they expect transaction volumes to resume and that the multi-year outlook
for use of the IKE platform is robust. In addition, IKE continues to pursue new transaction
customer opportunities. As a reminder of IKE’s business model, the company generates additive
transaction revenue, on top of subscription revenue, from some customers as they engineer
more network assets in our software system.”

2
In other areas of business development:
- New subscription product launched: Our next-generation IKE PoleForeman product was
released to the market in the period, having been designed with a customer council
including the Engineering Standards leaders from five-of-the-ten largest investor-owned
utilities and the largest communications company in the United States. We are
optimistic that this new product will deliver significant value to existing customers and
to the wider market. Because of the associated new features, subscription business
model and pricing, during FY24 and FY25 it is expected this product will drive an additive
$6-7m of annual recurring subscription revenue from the existing PoleForeman
customer footprint, so up to five times higher than legacy product levels. A launch
webinar, attended by more than 300 North American utility, communications, and
engineering companies, can be viewed at
https://ikegps.com/ike-poleforeman/ .
- Cost-down program: In Q3, we reduced IKE’s cost base to maintain the timeframe
towards both EBITDA and cash positive operations. Regrettably this included releasing
team members representing approximately 19% of total employee numbers. Most of
the impacted roles are U.S. based back-office and service positions. We have also
reduced other contractor cost items. In total we expect the impact of this process to
reduce annualized costs by approximately $4m. As consistently stated, management
and the Board remain cognizant of the importance of maintaining a strong balance
sheet position, executing against immediate revenue growth opportunities, whilst
retaining the ability to manage costs appropriately.
- Training business acquisition: In 1H, we acquired the assets of the Marne & Associates
NESC compliance training business to allow us to add more value to, learn from, and
cross-sell our technology products to end users via our expanding Training and
Education offerings. We anticipate training thousands of engineers at U.S. electric
utilities over the coming 12-18 months and have already hosted several training NESC
webinars with attendees exceeding 400 engineers per session from U.S. electric utilities,
communications companies, and engineering firms.
- Customer expansion: We have seen continued expansion of various existing customers.
Several new and important tier-1 enterprise groups have been onboarded in the 1H
period and we expect more to follow in 2H. 1H customer wins include a North-East
electric utility group ranked in North America’s top ten investor-owned utilities in a deal
worth more than $400k subscription revenue over the next three years. Another material
win was a contract with a national communications company for expected $1.5m+
subscription
revenue. This is supporting an assessment of more than one million
distribution assets in California, and cross-sales into other regions of their business are
in progress.
The long-term growth outlook for IKE remains strong. Key market drivers include the
requirement for North American electric utilities to build grid capacity & resiliency over the
coming 20-plus years and the race between more than 200 communications companies to build
fibre & 5G networks across the U.S. and Canada. IKE solutions drive significant productivity
benefits into these network engineering programmes. We anticipate that a healthy run rate of
new contracts will close in the 2H FY24 period and beyond.”
Performance across the business is set out in the following table and charts:

3




Takeaways
Revenue 1H FY24 of
~$10.5m (-32% vs pcp).
Gross margin percentage 1H
FY24 of ~59% (up from pcp
of 53%).
Net loss was ~ -$6.9m (pcp
$1.1m profit). This change
was due to lower total gross
margin dollars by ~$2m and
lower foreign exchange and
fair value movements by
~$4.7M.
1H FY24
PCP
(1H FY23)
% Change
Total Revenue$10.5m$15.4m-32%
Total # of customers408361+13%
Platform Transactions
# of billable transactions144k259k-44%
Platform transaction revenue$3.7m$9.4m-60%
Gross Margin$0.7m$3.6m-80%
Gross Margin %19%38%
Platform Subscriptions
Platform subscription revenue$5.1m$4.1m+24%
Gross Margin$4.5m$3.6m+23%
Gross Margin %
87%88%
Hardware & Other
Hardware & Services revenue$1.7m$1.9m-11%
Gross Margin$1.0m$0.9m+5%
Gross Margin %60%50%

4


Takeaways
Four-year revenue CAGR of
34%.
Recurring subscription and
reoccurring transaction
revenues (shown by the
Green and Blue segments in
this chart) dominate IKE’s
revenue mix, at 84% YTD.
Four-year transaction
revenue CAGR of 49%. With
FY23 seeing outsize
customer growth and
activity.
An expectation for healthy
growth in the 2H FY24 period
and beyond.



Takeaways
Significant growth in
underlying subscription
revenue.
During FY24 and FY25, this
is expected to increase
materially with IKE’s next
generation PoleForeman
being released in FY24, that
is forecast to be adopted by
the existing customer
footprint of tier-1 utilities
currently using the legacy
version.





ENDS

About ikeGPS
We’re IKE, the PoleOS™ Company. IKE seeks to be the standard for collecting, analysing and
managing pole and overhead asset information for electric utilities, communications companies,
and their engineering service providers.
The IKE platform allows electric utilities, communications companies, and their engineering service
providers to increase speed, quality, and safety for 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
+1 720-418-1936
glenn.milnes@ikegps.com

Simon Hinsley
Investor Relations
+61-401-809-653
simon@nwrcommunications.com.au

ikeGPS Group Limited
350 Interlocken Blvd, Suite 390, Broomfield CO 80021, USA
Office: +1 303 222 3218
www.ikegps.com

---

IKE Financial Results
for the 1H FY24 Period to 30 September 2023
We’re IKE, the Pole OS™ Company
Glenn Milnes, CEO
glenn.milnes@ikegps.com
November 2023
CONFIDENTIAL

ikeGPS
2
Important Notice
•Is for general information purposes only, and is not an offer or invitation for subscription, purchase, or
recommendation of securities in ikeGPSGroup Limited (IKE);
•Should be read in conjunction with, and is subject to, IKE’s FY23 financial results (audited), 1H FY24 financial results
(unaudited) , recent market releases, and information published on IKE’s website (www.ikegps.com);
•Includes forward-looking statements about IKE and the environment in which IKE operates, which are subject to
uncertainties and contingencies outsideof IKE’s control – IKE's actual results or performance may differ materially
from these statements;
•Includes statements relating to past performance, which should not be regarded as a reliable indicator of future
performance; and
•May contain information from third parties believedto be reliable – however, no representations or warranties are
made as to the accuracy or completeness of such information.
•All information in this presentation is current at the date of this presentation, unless otherwise stated.
•All currency amounts are in NZ dollars unless stated otherwise.
Receipt of this Document and/or attendance at this presentation constitutes acceptance of the terms set out above in
this Important Notice.
Information in this Presentation:

ikeGPS
3
Agenda
1H FY24 financial results
Q3 update:
- New IKE PoleForeman product in general market release
- Cost-down initiative implemented
- Talent: Roz Buick appointed as non-executive director
Addressable market, and IKE’s value proposition
Q&A

ikeGPS
4
•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%m or vs pcp),
reflected in the revenue mix above
•Gross margin percentage 1H FY24 of ~59% (up from pcp of
53%).
•Net loss was ~ $6.85m (pcp $1.1m profit). This change was
primarily due to:
•Lower total gross margin dollars by ~$2m
•Lower foreign exchange and asset fair value
movements by ~$4.7M
•Cash and receivables at 30 September 2023 of ~$16.3m,
comprised of $10.2m cash and $6.1m receivables, with
payables of $1.2m and no debt.
1H FY24 Financial Performance
Takeaways:

ikeGPS
5
•Four-year revenue CAGR of 34%.
•Recurring subscription and reoccurring
transaction revenues (shown by the Green and
Blue segments in this chart) dominate IKE’s
revenue mix, at 84% YTD.
•Four-year transaction revenue CAGR of 49%, but
60% lower in 1H FY24 vs pcp due to 1H FY23
seeing outsize customer growth and activity.
•An expectation for healthy contract growth in
the 2H FY24 period and beyond.
Revenue by segment 1H FY24
Takeaways:

ikeGPS
6
•Significant growth in underlying
subscription revenue.
•During FY24 and FY25, this is
expected to increase materially with
IKE’s next-generation PoleForeman
product recently released in FY24,
that is forecast to be adopted by the
existing customer footprint of tier-1
utilities currently using the legacy
version.
Subscription revenue growth has continued to be strong (+24% pcp)
Takeaways:

ikeGPS
7
1H FY24 Key Metrics
1H FY24
PCP
(1H FY23)
% Change
Total Revenue$10.5m$15.4m-32%
Total # of customers408361+13%
Platform Transactions
# of billable transactions144k259k-44%
Platform transaction revenue$3.7m$9.4m-60%
Gross Margin$0.7m$3.6m-80%
Gross Margin %19%38%
Platform Subscriptions
Platform subscription revenue$5.1m$4.1m+24%
Gross Margin$4.5m$3.6m+23%
Gross Margin %87%88%
Hardware & Other
Hardware & Services revenue$1.7m$1.9m-11%
Gross Margin$1.0m$0.9m+5%
Gross Margin %60%50%

Q3 FY24 updates
Next-generation PoleForeman general-market release.
Cost-down initiative.
Roz Buick appointed to the IKE Board.

ikeGPS
9
Next-gen IKE PoleForeman released for general-market availability
Expected to increase recurring subscription revenue substantially from the legacy PoleForeman customer footprint
Designed with a customer council including the Standards Group leaders within:
IKE Office ProIKE StructuralIKE InsightIKE Analyze

ikeGPS
10
A Cost-Down Program Has Been Implemented
•In Q3 we reduced IKE’s cost base to maintain the timeframe towards both EBITDA and cash positive operations.
•Regrettably, this included releasing team members representing approximately 19% of total employee numbers.
Most of the impacted roles are U.S. based back-office and service positions. We have also reduced other
contractor cost items.
•In total we expect the impact of this process to reduce annualized costs by approximately $4m.
•As consistently stated, management and the Board remain cognizant of the importance of maintaining a strong
balance sheet position, executing against immediate revenue growth opportunities, whilst retaining the ability to
manage costs appropriately.

ikeGPS
11
Roz Buick, Appointed as Non-executive Director
•Roz brings more than 25-years’ experience from executive leadership positions
across global utility, engineering, construction, real estate and agriculture markets
with companies including Oracle Inc. and Trimble Inc.
•An industry leader who has led businesses through new growth strategies that are
market differentiating and innovative, both with product and go to market
strategies.
•Roz’s past roles include:
•At Oracle, Senior Vice President of Strategy, Product, Development and
Marketing, Construction & Engineering Global Business. Based in Colorado,
USA
•At Trimble Inc. Senior Vice President, overseeing and managing the global
Buildings business strategy and entire construction continuum including
businesses for Architects & Designers, Structural Steel & Concrete
Engineers & Contractors, General Contractors, Specialty Mechanical
Electrical & Plumbing Contractors and Real Estate & Workplace
professionals. Based in Colorado, USA.
•Board director at Grupo Protexa (Mexico & Latin America an energy & utilities
EPC business) and a variety of other global technology entities.
Talent: added to the IKE team

What IKE does, and the market opportunity being addressed
Product and Market Re-cap

ikeGPS
13
Communications Market Macro
More than 3,000 electric utilities and 200M distribution assets across the U.S.
Investing in decades-long grid resiliency and grid capacity programs
Facing common challenges
•Grid resiliency requirements
•Grid capacity requirements
•Significant legal liability risks
•Regulatory and Engineering code compliance
•An ageing workforce, requiring tech vs more people
IKE products dramatically improve the engineeringdesign & maintenance process

ikeGPS
14
Where IKE sells: U.S. Market-Map of Investor-Owned Utilities (multi-$B companies)
IKE is the Standard within 6 of the 10 largest today, but with a huge expansion opportunity......

ikeGPS
15
Where IKE sells: U.S. Market-Map of >2,800 Municipalities and Co-Operatives
All of which represent sales opportunities for all IKE products
Takeaways
•Market timing is everything
•IKE is in the right place, and the
right time, with the right technology,
team and execution capability
•Overlay on these maps, >2,000
engineering companies that serve
the electric utilities

ikeGPS
16
25-year Macro-Market Tail Wind for Grid Resiliency & Expansion ($B’s)
An Electric Utility Industry, Spending 100’s of Billions, in Need for Productivity Solutions, such as IKE
7.27.27.27.27.27.27.27.27.27.27.27.2
3.63.63.63.63.63.63.63.63.63.63.63.6
3.63.63.63.63.63.63.63.63.63.63.63.6
44.9
46.4
49.3
52.2
59.4
65.2
71.0
78.3
82.6
87.0
89.9
95.7
$59.4
$60.9
$63.8
$66.7
$73.9
$79.7
$85.5
$92.8
$97.1
$101.4
$104.3
$110.1
201420152016201720182019202020212022202320242025
CanadianMuniCo-opsUS IOU
U.S. AND CANADIAN ELECTRIC DISTRIBUTION CAPITAL EXPENDITURES
ACTUALFORECASTED
$NZD in B

ikeGPS
17
IKE has a Suite of Distribution Network Software Products
Digitization of network
assessment
Bulk data processing for
distributionnetwork
decision making
Pole loading analysis
and structural design
Technology & automation drivencapability
to accelerate engineering
+
Business model upshot
•A recurring Subscription to
access any IKE Solution
•Additive, reoccurring Fees
based on usage (license
seats or transactions)
•Optional value-added
products , such as IKE
Analyze and IKE University

ikeGPS
18
IKE Goes to Market Directly
With a deepened team of industry experts
SVP of
Sales
VP of Utilities
Solutions
Engineering
Manager
Solutions Engineer
Systems Engineer
Systems Engineer
Production Engineer
Sr. Account
Manager
Sr. Director of
Communications
Sales
Inside Sales
Lead
Generation
Sr. GIS
Manager
Sales
Operations
Coordinator
Director, Utility
Enterprise
Director, Utility
Enterprise
Director, Utility
Enterprise
Solutions Engineer
Inside Sales
Sr. Director of
Communications
Sales
Sales
Operations &
Marketing
automation
Each rep has 40-50
named accounts
Market focus: Utility &
Major ESP
Each rep 40-50 named
accounts
Market focus:
Communications &
some ESP
Some existing Business
mostly New business
hunting
Mostly Existing
Customer Expansion
and Inbound leads
Market Focus:
Communications, Small
Utilities (Coop/muni) &
Engineering firms

ikeGPS
19
A Sales Motion that Starts with Strategy & Playbooks
Market Opportunity
Addressable Market
NA Electric Distribution Utility Spend (Forecast)
Industry Drivers and Macro-Market Trends
Industry Convergence
GTM Strategy Defined
IOU’s, Coops, Public Power
Utility Service Providers/Engineering firms
Strategic Account Focus / Regions 40-50 accounts each – with
account plans
Define Ideal Customer Profiles (ICP) & Personas, Pains & Gains
Create thematic messaging in marketing & sales
Three verticals – different messaging resonates
Utilities – “Defendable Data”
Communications – “Faster, Safer, Truer”
Engineering – “Increased Accuracy & Improved Productivity”
Company Overview & Sales Roles
Product & Pricing
Value Propositions
Pain relivers & Gain creators by product
Price maximization
Strategic Sales Processes
Target Audience
Background
Conditions driving need
Targeted Titles & Personas
What to say/how to position
Competition and Differentiation
Overview of Sales tools & resources
Sales PlaybooksGo-to-Market Strategy

ikeGPS
20
A Map-View of Usage, and how IKE customers deploy our software
Crown Castle in Florida

ikeGPS
21
A map-view of Usage, and how IKE customers deploy our software
AT&T in 7 example States

ikeGPS
22
IKE solutions make fiber and 5G network deployments faster
IKE dramatically speeds up the network deployment process.
•>$300B expected investment into fiber network development in the U.S over next 5+ years
•>$50B expected investment into 5G network development in the U.S. over the next 5+ years
•An additional >$60B expected investment into rural broadband development as part of the Biden administrations
new Infrastructure bill
•>200 Communications companiescompeting to build a networks and winunderlying customers
•>2,000 engineering serviceproviders supporting network development

ikeGPS
23
Fiber and 5G Investment Super-Cycle in North America Still In Its Early Stages
PROJECTED INVESTMENTS INTO 5G & FIBER OPTIC INFRASTRUCTURE
$39B
20102018
$43B
$72B
2025
$NZD
Source: Bell Potter Initiation of Coverage Report, GSMA, American Tower
Note: Labeled Capex Figures reflect Houlihan Lokey Estimates

ikeGPS
24
Some of the largest U.S. Communication groups have Standardized on IKE
And a fast-growing footprint of tier-2 fiber businesses
Takeaways
•Several of the largest comms group
in North America: AT&T ($107B),
Crown Castle ($39B), Bell Canada
($47B)
•A fast-growing footprint of the tier-
2 fiber companies
Opportunities to:
•Grow, upsell and cross-sell IKE
products into existing customer
base
•Win new logos in the North
American market
•Expand into international markets
over time
Communications
Electric Utilities
Engineering & Project Management

ikeGPS
25
$5.4B
TAM
$550M Fiber / 5G
Market Opportunity
0.6M
Poles Needing
Small Cell
Deployments
Overall.. an Addressable Market Opportunity That is Expected to Grow Strongly
(1)Assumed 80% discount rate on range of fibre deployments
(2)Other services include design planning, grid hardening/resiliency programs, NESC violations, joint use attachment audit, billing audits , etc.
Source: Management Estimates, Bell Potter Initiation of Coverage Report, Houlihan Lokey Estimates
Note: Market analysis does not include opportunity that will arise from growth of pole infrastructure
$NZD
5G Small Cell
Antenna
Fibre Connections
5G and Fibre
4.2M
1
Poles
Requiring Fiber
Connections
$113 Cost of
Service
$4.8B Electric Utilities
Opportunity
40M Poles
Needed for
Audit per
annum
Estimated
$50 Cost of
Audit per
Pole
Estimated
$113 Cost of
New Build
per Pole
>200M Total No. of
Electrical Poles
25M Poles
Used for
Other
Services
2
Utilities
$NZD

ikeGPS
26
50%+
Of US energy consumption will be comprised of electricity
on the distribution grid by 2050 to attain carbon net zero
targets, and power the new EV market, compared to
current levels of just 20% =
Engineering requirements to build capacity on the network.
Market Tailwinds Summary
Source: Bell Potter Initiation of Coverage Report, GSMA, American Tower, Accenture, Grandview Research, Global Newswire, Ryse Energy, World Economic Forum
Small Cell Deployments across North
America, much of it engineered on
distribution power poles
800,000+
Small cell site expansions are expected by 2025 as
communications infrastructure providers look to speed up 5G
rollout while reducing cost and time of deployment
Requirement for harder and higher
capacity distribution power networks
across all of North America
>3,200
Electric Utilities in North America with long-term, recurring
distribution network hardening, joint use, and capacity needs for
electrical distribution
7+ year macro-market tailwind of fiber
deployment, much of it engineered on
distribution power poles
>$350B
Investment forecast in fiber in the US by 2025, representing >30M
attachments; communications infrastructure providers seeking
partners to manage new fiber attachments for every pole
Infrastructure development via
Engineering Service Providers
>1,000
Engineering Service Providers in the US subcontracted by
telecom and utilities providers to assist in infrastructure
development and deployment
Massive engineering requirements for an
evolving distribution network supporting
an increase in global consumption of
electricity

ikeGPS
27
Sticky Infrastructure Customers Making Long-Term Work-Practice Decisions
IKE Lands-then-Expands
Takeaways
•6 of the 10 largest Investor-Owned
Utilities (“IOUs”) in North America, all
multi-billion dollar businesses
•>400 customers in North America,
with 60 logos added in FY23 or 1 per
week
•>5,000 enterprise target accounts
to pursue overall
Opportunities to:
•Grow, upsell and cross-sell IKE
products into existing customer
base
•Win new logos in the North
American market
•Expand into international markets
Communications
Electric Utilities
Engineering & Project Management

1H FY24 Business Development Highlights
The six-month period to 30 September 2023
Revenue: 1H update and 2H outlook
New products in-market
Important customer wins
Talent and team development

ikeGPS
29
-As signaled, revenue in 1H FY24 was below pcp due to
timing delays of engineering programs across three of
IKE’s largest national infrastructure customers.
Specifically, this resulted in:
-Ongoing growth in recurring subscription revenue, but
-Lower reoccurring transaction revenue in the period vs pcp
-Overall, lower revenue in 1H FY24 vs pcp
-Importantly, the delayed long-term customers referred to
are not ‘lost’ and these groups are guiding for high levels of
IKE product usage over the coming periods
-In addition, the company continued to see ongoing strong
growth in recurring subscription revenue vs pcp
-IKE’s additive sales opportunity pipeline supports the
potential for substantially increased contracts and
revenue in the 2H FY24 period, and beyond, from existing
customers and new logos
1H, Revenue Update and 2H Outlook

ikeGPS
30
1H, Important Customer Win Examples
Win run-rate of approximately one new U.S. enterprise customer per week.
Tier-1 Comms customer winTier-1 Investor-Owned Utility win
Tier-1 Engineering customer win
•National fiber business.
•Supporting a network program across
California
•Expectation for ~$1.5m in subscription
revenue over the coming 18-24 months
•Opportunities to expand into other States
•One of the largest national EPC’s serving
the electric utility market in North
America
•Initially, supporting a decade-long
contract for a utility in New Mexico
•Opportunities to expand substantially
across this EPC’s national footprint over
time
•One the of the 10 largest IoU’s in North
America
•Adopting next-gen IKE PoleForeman
product and business model
•Displacing incumbent competitor
•Multi-year subscription contract >$4ook

ikeGPS
31
1H, Product Innovation Delivery
Expected to increase recurring subscription revenue substantially from the legacy PoleForeman customer footprint
Launched this quarter, and designed with a customer council including the Standards Group leaders within:
IKE Office ProIKE StructuralIKE InsightIKE Analyze

ikeGPS
32
Integrates with existing applications, data, and systems,
IKE Insight
Data source and image agnostic
Dashboards
API & Multiple File Types
JSONKMLCSV
and more...
Existing Data
Images
DronesThermal Imagery
Field DevicesLidarSatellite
1H Product Innovation Delivery
Takeaway:
Faster Network Viability Assessment and More Profitable
Deployment.
Via automated analysis ofbulk data for joint-use and
overhead network deployment,
at whole-of-network scale.

ikeGPS
33
Example Analysis for Network Viability Assessment
At whole of network scale
-IKE Insight determines pole categories relative
to make-ready requirements (category-logic
can be set by the customer through the Insight
rules application)
-Category 1: (0 or 1) wire detected in the
bottom 80% of pole
-Category 2: (2 or 3) wires detected in the
bottom 80% of pole
-Category 3: (3) wires detected in bottom
80% of pole AND transformer or
streetlight detected anywhere on pole
-Category 4: (4) or more wires detected in
bottom 80% of pole

ikeGPS
34
-IKE Insight determines pole categories relative
to make-ready requirements (category-logic
can be set by the customer through the Insight
rules application)
-Category 1: (0 or 1) wire detected in the
bottom 80% of pole
-Category 2: (2 or 3) wires detected in the
bottom 80% of pole
-Category 3: (3) wires detected in bottom
80% of pole AND transformer or
streetlight detected anywhere on pole
-Category 4: (4) or more wires detected in
bottom 80% of pole
Example Analysis for Network Viability Assessment
At whole of network scale

ikeGPS
35
-IKE Insight determines pole categories relative
to make-ready requirements (category-logic
can be set by the customer through the Insight
rules application)
-Category 1: (0 or 1) wire detected in the
bottom 80% of pole
-Category 2: (2 or 3) wires detected in the
bottom 80% of pole
-Category 3: (3) wires detected in bottom
80% of pole AND transformer or
streetlight detected anywhere on pole
-Category 4: (4) or more wires detected in
bottom 80% of pole
-Example images of each – 3
Example Analysis for Network Viability Assessment
At whole of network scale

ikeGPS
36
-IKE Insight determines pole categories relative
to make-ready requirements (category-logic
can be set by the customer through the Insight
rules application)
-Category 1: (0 or 1) wire detected in the
bottom 80% of pole
-Category 2: (2 or 3) wires detected in the
bottom 80% of pole
-Category 3: (3) wires detected in bottom
80% of pole AND transformer or
streetlight detected anywhere on pole
-Category 4: (4) or more wires detected in
bottom 80% of pole
-Example images of each – 4
Example Analysis for Network Viability Assessment
At whole of network scale

ikeGPS
37
Resulting in Visual Dashboards to Optimizea Network Deployment
Example fromErie, CO market

ikeGPS
38
10x Faster. 4x Cost reduction.
Dramatically faster fiber network deployment
Takeaways:
With IKE Insight, a 200,000 fiberattachment
program payback:
-deploy >6 months faster
-save >$1m in pre-survey assessment costs
alone.

ikeGPS
39
Brett Willitt, SVP Product
•Former President of structural
analysis and structure
management software company
SPIDA Software (SPIDA). -
•SPIDA was acquired by NASDAQ
listed Bentley Systems Inc. in
2021, where he subsequently led
segments of Bentley’s’ global
distribution network software
division.
•Prior, held other prominent
positions in the energy industry,
including Product Engineering
Manager at Osmose Utilities
Services and Joint-Use product
manager at FirstEnergy Utility.
•Began his career as a network
planning engineer for Verizon.
•Holds a BS in Civil Engineering
from Clarkson University.
Roz Buick, Non-executive Director
•Former CFO of Also Energy Inc.,
where he was part of the executive
team that grew the business at
more than 30% CAGR over six
years and led its sale to NYSE-
listed STEM Inc. for US$652m.
•Prior, Brian held CFO roles with
companies including Zayo
Bandwidth Inc. – a high-growth
national fibre business, MST Global
inc. - an industrial network and
software provider for critical
communication and network
solutions, and Intermap
Technologies Inc.
•Holds an MBA from Colorado State
University, and began his career as
a Certified Public Accountant with
six years at KPMG / Arthur
Anderson focused on the
technology & software segment.
1H, Capability added to the IKE team
More tier-1 hires expected in 2H

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40
1H acquisition, extending IKE’s training & education capability
The assets of Marne & Associates . Expanding sales & brand channel for product cross-sales
•Marne & Associates specialize in training utilities,
communications companies, and engineering groups for the
application of the National Electrical Safety Code (NESC) in the
day-to-day work at a utility, the application of NESC Rules for
Joint-Use Construction (for engineers and line workers),
Occupational Safety and Health Administration (OSHA 1910.269)
for Power Workers, and OSHA 1910.268 (for Communication
Workers).
•While IKE is a software & technology company, we have
established an important sales channel via education & training
capability. This acquisition further allows us to add value to,
engage with, learn from, and ultimately cross-sell our products to
end-users (who are the future decision makers) within utilities,
engineering companies, and communications groups.

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41
Multiple Avenues Supporting Future Growth Potential
Sales Team
Expansion / New
Customers
Inorganic
Growth
Cross Sell & Upsell into
Existing Customer Base
International
Expansion
$43mm
Revenue
“Today”
Revenue
“Future”
2
3
4
1
Sales Team
Expansion /
New Logos
1
Platform for
Inorganic Growth
3
Cross Sell &
Upsell
2
International
Expansion
4

ikeGPS
42
Thanks
Manaakitanga: We Rise By Lifting Others

ikeGPS
43
Q&A
We’re IKE, The PoleOS™Company
IKE seeks to bethe standard for collecting, analyzing and managing pole
and outside plant (“OSP”) information for electric utilities,
communications companies, and their engineering service providers
The IKE platform allows its customers to increase speed, improve
quality, and deliver safety in the assessment, construction, and
maintenance of distribution poles and other OSP assets
IKE’s purpose is Manaakitanga, which means”to rise by lifting others”

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Template
Results announcement
(for Equity Security issuer/Equity and Debt Security issuer)
Updated as at 17 October 2019


Results for announcement to the market
Name of issuer ikeGPS Group Limited
Reporting Period 6 months to September 2023
Previous Reporting Period 6 months to September 2022
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$10,519 -31.8%
Total Revenue $10,616 -32.0%
Net profit/(loss) from
continuing operations
($6,850) -718.2%
Total net profit/(loss) ($6,407) -260.3%
Interim/Final Dividend
Amount per Quoted Equity
Security
N/A
Imputed amount per Quoted
Equity Security
N/A
Record Date N/A
Dividend Payment Date N/A
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$0.09 $0.13
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
This results announcement should be read in conjunction with
the unaudited consolidated financial statements for the six
months ended 30 September 2023 ('Interim Financial
Statements').
Authority for this announcement
Name of person

authorised
to make this announcement
James Macdonald
Contact person for this
announcement
James Macdonald
Contact phone number +64 4 382 8064
Contact email address james.macdonald@ikegps.com
Date of release through MAP

29/11/2023

Unaudited financial statements accompany this announcement.