ikeGPS Group Limited (IKE) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to iGPS quarterly update where we have the CFO, Paul Cardosi, on the line. We'll have Glenn Milnes, the CEO, join shortly. Just a reminder that if you did want to ask a question, please submit it through the Q&A button down at the bottom of your screen or for analysts, you can raise your hand and I'll allow you to talk. But Glenn is going to run us through most of the financials as a part of the quarterly first and then we expect Glenn to join shortly. Thanks very much, Paul. Thanks, Simon, and good morning and good afternoon to everyone. Thank you for joining our third quarter performance update. We published our results earlier today, so hopefully you'll get a chance to look at the document. We're not presenting slides today. I was actually going to talk you through the handout that's been published on our website as well as the NZX and ASX. Overall, we've had a very strong third quarter, continuing on from the strength that you saw in the second quarter. At a very high level, our subscription revenues continue to grow at a 35% growth pace. You'll see that in some of the slides that we have. We're also seeing continued improvement in gross margins, which creates operating leverage for us as a business. And we do that with a healthy balance sheet that we're investing into new products which are on track for release later in their calendar year. I'm going to jump to the financial part of the presentation. and it's the section that's titled Performance Summary. I'm going to start with what we call our exit run rate or annual recurring revenue trend. You can see that through the nine months year to date, we finished at 21.1 million New Zealand dollars. That's an increase, 35%. It's actually 36% in constant currency. We had a little bit of a imp...