Locate Technologies Advances NZX Listing with Strong SaaS Growth and New Capital Facility
Locate Technologies reports a 19% revenue increase in its Locate2u segment and progresses toward a December 2025 NZX listing, supported by new board appointments and a NZD 10 million ATM facility.
- Locate2u segment revenue up 19% in Q1 FY26
- First positive EBITDA quarter for Locate2u
- Group EBITDA loss of $189k impacted by NZX transition costs
- Scheme of Arrangement on track for Q2 FY26 completion
- New NZD 10 million ATM facility established to support capital raising and Bitcoin acquisition
Strategic NZX Listing Progress
Locate Technologies Limited (ASX, LOC) has taken a significant step forward in its corporate evolution with the filing of a Product Disclosure Statement (PDS) for its proposed listing on the New Zealand Stock Exchange (NZX), now targeted for December 2025. This move aims to position the company within a more innovation-friendly regulatory environment, broadening its investor base and aligning with its long-term strategic ambitions.
The transition to Locate NZ as the new holding company is progressing on schedule, with the Scheme of Arrangement expected to complete in the second quarter of FY26. This structural change is a prerequisite for the NZX listing and is supported by the recent appointments of Brett O’Riley and Janine Grainger to the Locate NZ Board, bringing expertise in technology, financial services, and digital assets.
Operational Performance Highlights
On the operational front, Locate2u delivered robust growth, posting $787,000 in revenue for Q1 FY26; a 19% increase compared to the prior corresponding period and a 9% rise over the previous quarter. This marks Locate2u’s first quarter with positive EBITDA, albeit modest at $3,000, signaling early signs of profitability in this segment.
Conversely, the Zoom2u segment faced headwinds with a 20% revenue decline, attributed to broader market softness and cost-of-living pressures impacting delivery volumes. Despite this, Zoom2u maintained an EBITDA of $303,000, underscoring operational resilience amid challenging conditions.
Financial Position and Capital Management
The group reported a consolidated EBITDA loss of $189,000 for the quarter, heavily influenced by one-off costs related to the NZX listing transition and non-cash employee share option plan expenses. When adjusted for these factors, normalized EBITDA was near breakeven, reflecting disciplined cost control.
Cash reserves stood at $1.2 million as of 30 September 2025, complemented by a Bitcoin treasury holding of 12.3 BTC valued at approximately $2.17 million. The company has also established a NZD 10 million At-the-Market (ATM) facility, designed to provide flexible capital raising opportunities to strengthen the balance sheet and support further Bitcoin acquisitions in line with its treasury management policy.
Looking Ahead
CEO Steve Orenstein emphasized the company’s focus on executing its Bitcoin treasury strategy and SaaS growth initiatives, while maintaining financial resilience through disciplined capital management. The upcoming investor webinar scheduled for 29 October 2025 will provide further insights into the company’s quarterly results and strategic outlook.
Bottom Line?
Locate Technologies’ NZX listing and capital initiatives set the stage for a transformative year ahead, but investors will watch closely as the Scheme approval and market conditions unfold.
Questions in the middle?
- Will the Scheme of Arrangement receive shareholder approval to enable the NZX listing?
- How will Locate Technologies balance growth investments with profitability amid market headwinds?
- What impact will Bitcoin price volatility have on the company’s treasury strategy and financial results?
