Prior Expectations
HY23
From IKE swung to a $1.1m HY profit on 169.8% revenue growth
No stated targets, guidance, or forward-work balance were disclosed, and the FY22 comparable had zero prior-half revenue on the current basis, so no meaningful seasonality bridge exists. Annualising HY23 revenue gives a ~NZ$30.8m run-rate, materially above FY22's NZ$5.7m — but the release provides no shape context to assess whether H2 typically accelerates, flattens, or decays. The result supports the narrative of a step-change in scale; it does not, on its own, evidence sustained profitability or a repeatable H2 trajectory.