• 31% increase in subscription revenue exit run rate
• Platform subscription revenue up 27%
• Gross margin increased to 82%
• New products expected to drive further growth
• AI integration enhancing product development

IKE, a leading software provider for electric utilities and communications companies, reported a 31% increase in its subscription revenue exit run rate for the first quarter of FY27. The company saw a 27% growth in platform subscription revenue, driven by new customer additions and price increases. Gross margin improved to 82%, while total revenue remained flat due to lower margin services revenue. IKE is set to launch three new products in the second half of the year, expected to drive further annual recurring revenue growth. The company also highlighted the integration of AI into its products and internal processes, which is expected to accelerate growth and enhance the user experience.

FY27 guidance maintained for ~35% ARR growth

IKE maintains a strong outlook for subscription revenue growth in FY27, validating the company's value proposition and demand from electric utilities.