close
Investment
2 mins to read

IkeGPS cuts staff by 19%, posts $6.9m HY loss

Pole measuring software provider says communications market slowdown has affected revenue, but long-term trend still positive.

IkeGPS’s technology specialises in measuring utilities poles.

Will Mace Wed, 29 Nov 2023
Key points
  • Revenue: Down 32% to $10.5m
  • Net loss: Down to $6.9m from a $1.1m profit
  • Main takeaway: Company has reduced cost base to maintain the timeframe towards both earnings and cash positive operations.

IkeGPS Group has cut about 19% of its total number of employees – mostly US-based back office and service roles – to keep it on target for achieving both earnings and cash positive operations.

The NZX and ASX-listed company – whose technology helps utilities such as lines companies manage

Want to read more? It's easy.

Choose your best value subscription option

Student

Exclusive offer for uni students studying at a New Zealand university (valued at $499).
Individual
Group membership
NBR Marketplace
NZ Aviation News

Yearly Premium Online Subscription

NZ$499.00 / yearly

Monthly Premium Online Subscription

NZ$44.95 / monthly

Smartphone Only Subscription

NZ$24.95 / monthly

Premium Group Membership 10 Users

NZ$350+GST / monthly

$35 per user - Pay by monthly credit card debit

Premium Group Membership 20 Users

NZ$600+GST / monthly

$30 per user - Pay by monthly credit card debit

Premium Group Membership 50 Users

NZ$1250+GST / monthly

$25 per user - Pay by monthly credit card debit

Premium Group Membership 100 Users

NZ$1875+GST / monthly

$18.75 per user - Pay by monthly credit card debit

Yearly Premium Online Subscription + NBR Marketplace

NZ$499.00 / yearly

Aviation News - Monthly

NZ$14.95 / monthly

Already have an account? Login
Contact the Writer: william@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Key points
  • Revenue: Down 32% to $10.5m
  • Net loss: Down to $6.9m from a $1.1m profit
  • Main takeaway: Company has reduced cost base to maintain the timeframe towards both earnings and cash positive operations.
Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
IkeGPS cuts staff by 19%, posts $6.9m HY loss
Investment,
101906