Locate Technologies Limited

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 Market Update, released on 06 October 2026:

Locate2u Revenue Up 72%, Group Net Profit Positive.

Q1 FY27 was a milestone quarter for Locate Technologies. The Group recorded a net profit after tax of NZ$62k, its first quarterly net profit as a listed company, alongside operating cash flow of NZ$828k and a NZ$0.56 million increase in cash at bank to NZ$1.73 million. Locate2u revenue reached a record NZ$1.50 million, up 72% year on year, and now makes up 67% of Group revenue.

The growth is coming from enterprise customers. Large organisations are adopting Locate2u to run their delivery operations, and we are onboarding them faster than we could in prior periods. AI assists our team throughout development, so integrations and customer-specific requirements that once took months are now delivered in weeks. That speed helps us win customers, and it helps those customers see value from the platform sooner.

Group revenue rose to NZ$2.22 million, up 36% year on year. Reported EBITDA was NZ$521k and Normalised EBITDA was NZ$603k, compared with losses of NZ($209k) and NZ($3k) respectively in Q1 FY26. Reported EBITDA was positive in every month of the quarter.

We delivered this growth without growing the team. Total wages for the quarter were 14% lower than a year earlier, while Group revenue grew 36%. We continue to use AI to support growth rather than adding headcount as the business scales.