Highlights

  • Locate2u revenue rose 40% year-on-year to NZD 1.02 million in Q2 FY26.
  • Normalised EBITDA for the quarter was NZD 144,000.
  • Bitcoin holdings totalled 12.3 BTC, valued at approximately NZD 1.5 million.

Locate Technologies Ord Shs (NZE:LOC) traded at NZD 0.073 on 9 February, down 1.35% for the session and 8.75% over the past five days. The update follows the company’s release of its Q2 FY26 investor report, marking its first quarterly update since listing on the NZX in December 2025. The report outlined revenue growth in its logistics software platform Locate2u, alongside progress in its Bitcoin treasury strategy.

First NZX Quarterly Update Following Listing

Q2 FY26 marked Locate Technologies’ first full quarter as a New Zealand Exchange-listed company. The period focused on operational execution while completing the transition to the NZX. The company operates through two main platforms: Locate2u, which provides AI-enabled last-mile logistics software, and Zoom2u, a delivery services platform.

During the quarter, the company continued to position itself as New Zealand’s first listed Bitcoin treasury company, integrating digital asset holdings into its corporate treasury framework.

Locate2u Revenue Records Double-Digit Growth

Locate2u revenue increased 40% year-on-year to NZD 1.02 million in Q2 FY26, compared with NZD 0.73 million in the prior corresponding period. Group revenue for the quarter reached NZD 1.88 million, up 3% year-on-year.

Zoom2u revenue declined 22% to NZD 0.86 million from NZD 1.10 million in Q2 FY25. Despite the mixed revenue performance across segments, Locate Technologies reported normalised EBITDA of NZD 144,000 for the quarter, compared with a normalised EBITDA loss of NZD 13,000 in the prior year.

Reported EBITDA was a loss of NZD 829,000, reflecting costs associated with the NZX listing and transition. Operating cash outflow improved to NZD 335,000 from NZD 399,000 in Q2 FY25.

Balance Sheet and Bitcoin Holdings

As at the end of Q2 FY26, Locate Technologies reported a cash balance of NZD 1.6 million. The company also disclosed Bitcoin holdings of 12.3 BTC, valued at approximately NZD 1.5 million.

The company confirmed that the infrastructure for its Bitcoin treasury strategy is now established following the completion of its NZX transition and the setup of an at-the-market (ATM) facility.

Second Half FY26 Focus Areas

Looking ahead to the second half of FY26, Locate Technologies outlined three key priorities. These include expanding Locate2u by securing additional enterprise customers, increasing its presence in the United Kingdom and other international markets, and improving customer retention.

The company also plans to continue developing AI-driven logistics capabilities aimed at automating workflows. In parallel, it intends to continue accumulating Bitcoin through operating cash flow and its ATM facility, in line with its treasury management policy.

Locate Technologies’ first NZX quarterly update highlighted revenue growth in its core logistics software platform alongside progress in its treasury framework. With the NZX transition completed, the company has outlined operational and financial priorities for the remainder of FY26.

Frequently Asked Questions (FAQ)

Q1: How did Locate2u perform in Q2 FY26?
Locate2u revenue increased 40% year-on-year to NZD 1.02 million.

Q2: What were Locate Technologies’ Bitcoin holdings?
The company reported holdings of 12.3 Bitcoin, valued at approximately NZD 1.5 million.

Q3: What is the company’s focus for the second half of FY26?
Key priorities include expanding Locate2u internationally, delivering AI logistics capabilities, and continuing its Bitcoin treasury strategy.