Locate Technologies Limited Analysis

Overview

Locate is a founder-led technology-driven company with a mission to revolutionise the last mile of delivery by providing customer-centric solutions.

Locate’s business is made up of the Locate2u, Zoom2u, and 2u Enterprises businesses.

Locate has adopted a Bitcoin Treasury Strategy. This reflects the Directors’ conviction that Bitcoin is a powerful store of value and an effective hedge against inflation. By building a significant Bitcoin reserve, Locate positions itself to have the strength and flexibility to seize strategic acquisitions and unlock growth opportunities across its businesses.

Performance

The following information was extracted from Locate Technologies Limited’s Half year results, released 25 February 2026

During the half-year, the Group continued to execute on its strategy of scaling recurring SaaS revenues, positioning the Company for long-term sustainable growth. Throughout the period, the Group maintained a strong focus on cost discipline, with the introduction of AI-enabled processes providing opportunities for improved efficiency. The successful completion of the Company’s NZX listing and group reorganisation has established a solid platform from which to support future growth and expansion

The loss after income tax expense for the consolidated entity for the half-year ended 31 December 2025 amounted to $2,000,318 (31 December 2024: $934,471). A reconciliation of loss after income tax to Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA1) and normalised EBITDA2 is set out below

Group revenue for the half-year ended 31 December 2025 was $3,508,646, broadly consistent with the prior corresponding period (“pcp”) revenue of $3,511,553. Group revenue stability was achieved from growth in the Group’s Locate2u SaaS revenues being offset by lower activity on the Zoom2u platform.

Locate2u recorded revenue for the half-year ended 31 December 2025 of $1,882,219, representing growth of approximately 29% over the pcp revenue of $1,456,807.

This growth was primarily driven by continued expansion within existing enterprise customers together with new customer wins. The Locate2u segment recorded a segment loss of $278,190, a significant improvement on the pcp loss of $897,107, reflecting improved operating leverage as revenues scale.