For the 12 months ended 31 March 2020, ikeGPS Group Limited (NZX:IKE) reported performance in line with the headline metrics announced to the market in April 2020. Key Highlights:
- The company reported record revenue of about $9.8 million, up by 23 per cent on PCP;
- Gross margin stood at $7.0 million, growth of 30 per cent against PCP;
- The company had no debt with total cash and receivables of approximately $5.8 million.
The company also performed solidly through the Q1FY21 ending 30 June despite significant Covid-19 impacts across North America. It expects to achieve revenue of approximately $2 million for the quarter, which is a 15-20% reduced run rate revenue level against FY20.