IKE has landed two multi-year subscription contracts with major U.S. investor-owned electric utilities, with an initial value of ~NZ$3 million. One of these deals includes a contract with North America’s third-largest electric utility, marking a significant win for the company.
What This Means for IKE
The agreements will see over 700 engineers using IKE’s PoleForeman software for structural analysis and distribution network design, helping utilities improve grid resiliency and capacity. Given the scale of these utilities—serving over 6.5 million U.S. customers—this adoption could drive further uptake among engineering firms and communications companies working across these networks.
IKE also anticipates these contracts will contribute an additional ~NZ$1 million per year in annual recurring revenue (ARR) as usage expands.
Looking Ahead
With these wins, IKE is reinforcing its position as the go-to platform for managing pole and overhead asset data in the utilities sector. The company expects more significant subscription deals to follow in the near future, further strengthening its foothold in the U.S. market.
