ikeGPS Group Limited (NZX:IKE) Annual Report 2022



The latest annual report of ikeGPS Group Limited (IKE) was published on 31 Mar 2022. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - IKE Annual Results

Amounts in NZD

Total Revenue
15.96M
Gross Profit
9.89M
EBIT
-9.4M
Net Tangible Assets
33.63M
Net Income
-7.86M
Capital Expenditures
-1.76M

IKE Income Statement 2022 Annual Report

As per the latest Income Statement of IKE, the Net revenue increased by $6.64M (71%) compared to the previous period. The operating income in 2022 decreased by $-1.88M (-25%). The net income as per the annual report was -7.86M which decreased by $-364000 (-5%) compared to previous year.

Income Statement Report (2022/2021)

2022 2021
Total Revenue 15.96M 9.32M
Gross Profit 9.89M 5.92M
Operating Income -9.4M -7.52M
Income Before Tax -7.86M -7.49M
Net Income -7.86M -7.49M

Balance Sheet - IKE 2022 Annual Report

Read further: IKE Balance Sheet Detailed Analysis

The latest balance sheet from annual result of ikeGPS Group Limited showed the company increased the cash on balance sheet by $13.01M (115%). The Net tangible assets of IKE on the balance sheet were at 33.63M which is $17.27M (106%) more than previous annual report. The total stockholder equity also increased by $17.50M (81%) compared to previous reporting period.

Balance Sheet Statement Report (2022/2021)

2022 2021
Cash 24.35M 11.34M
Total Assets 48.24M 30.71M
Long Term Debt - -
Total Liabilities 9.04M 9.01M
Total Shareholder Equity 39.2M 21.7M
Net Tangible Assets 33.63M 16.36M

Cash Flow Statement - IKE 2022 Annual Report

The 2022 annual cash flow statement of ikeGPS Group Limited showed that the net income decreased by $-364000 (-5%) compared to previous reporting period. Also the capital expenditure of IKE decreased by $-917000 (-109%).

As of 2022, the total cash from investing activities was -3.69M and total cash from financing activities was 22.82M.

Cash Flow Statement Report (2022/2021)

2022 2021
Net Income -7.86M -7.49M
Capital Expenditures -1.76M -844k
Dividends Paid - -
Total Cash From From Investing Activities -3.69M -6.63M
Total Cash From From Financing Activities 22.82M 18.36M

ikeGPS Group Limited Annual Report History

Income Statement

Income Statement history of ikeGPS Group Limited (NZX:IKE)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Total Revenue 15.96M 9.32M 9.84M 8M
Cost Of Revenue 6.08M 3.4M 2.88M 2.65M
Gross Profit 9.89M 5.92M 6.96M 5.35M
Research Development 5.72M 2.31M 2.28M 3.21M
Selling General Administrative 13.63M 11.15M 9.58M 7.31M
Non Recurring - - - -
Other Operating Expenses -65k -16k -1k -102k
Total Operating Expenses 25.37M 16.84M 14.74M 13.07M
Operating Income -9.4M -7.52M -4.9M -5.07M
Total Other Income Expense Net 1.55M 28k -1.12M -22k
Ebit -9.4M -7.52M -4.9M -5.07M
Interest Expense -17k -37k -30k -30k
Income Before Tax -7.86M -7.49M -6.02M -5.09M
Income Tax Expense - - 17k -4k
Minority Interest - - - -
Net Income From Continuing Ops -7.86M -7.49M -6.04M -5.09M
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income -7.86M -7.49M -6.04M -5.09M
Net Income Applicable To Common Shares -7.86M -7.49M -6.04M -5.09M

Balance Sheet Statement

Balance Sheet Statement history of ikeGPS Group Limited (NZX:IKE)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Cash 24.35M 11.34M 4.33M 3.48M
Short Term Investments 33k - - -
Net Receivables 4.96M 2.63M 1.58M 1.37M
Inventory 1M 798k 876k 1.69M
Other Current Assets 191k - - -
Total Current Assets 31.82M 15.02M 7.46M 6.83M
Property Plant Equipment 2.01M 1.49M 1.89M 944k
Good Will 3.31M 3.28M - -
Intangible Assets 2.26M 2.05M 915k -
Other Assets 8.83M 8.86M 6.09M 3.62M
Total Assets 48.24M 30.71M 16.35M 11.39M
Accounts Payable 1.12M 591k 469k 252k
Other Current Liab 5.58M 6.03M 3.09M 1.25M
Other Liab 106k 176k 589k 55k
Deferred Long Term Liab 8.56M 8.51M 5.55M 3.6M
Total Current Liabilities 8.93M 8.66M 4.98M 1.98M
Total Liab 9.04M 9.01M 6.05M 2.03M
Common Stock 104.75M 80.93M 61.5M 55.13M
Retained Earnings -67.67M -59.82M -52.33M -45.85M
Treasury Stock 2.13M 587k 1.13M 77k
Other Stockholder Equity 2.13M 587k 1.13M 77k
Total Stockholder Equity 39.2M 21.7M 10.31M 9.36M
Net Tangible Assets 33.63M 16.36M 9.39M 9.36M
Long Term Debt - - - -

Cash Flow Statement

Cash Flow Statement history of ikeGPS Group Limited (NZX:IKE)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Net Income -7.86M -7.49M -6.04M -5.09M
Depreciation 1.12M 1.05M 729k 365k
Change To Netincome 665k 2.06M 2.13M 218k
Change To Account Receivables -2.4M -1.06M -524k -65k
Change To Liabilities 2M -59k 1.48M 187k
Change To Inventory -248k 260k 134k -470k
Change To Operating Activities -1.22M 860k 99k -157k
Total Cash From Operating Activities -6.6M -3.54M -1.1M -4.04M
Capital Expenditures -1.76M -844k -781k -477k
Investments -106k -106k -106k -106k
Total Cashflows From Investing Activities -3.69M -6.63M -4.04M -1.05M
Net Borrowings -308k -271k -161k -161k
Total Cash From Financing Activities 22.82M 18.36M 5.79M 5.87M
Effect Of Exchange Rate 480k -1.17M 211k 104k
Change In Cash 13.01M 7.01M 852k 889k
Issuance Of Stock 23.13M 18.63M 6.51M 6.25M
Dividends Paid - - - -