Integrated Research (IRI) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land owners, confirmation of quorum, and welcoming of shareholders, guests, and auditors both in person and online.

• Chair Peter Lloyd and CEO Ian Lowe delivered addresses outlining the meeting's focus on financial performance, strategy, and governance.

• Voting and Q&A procedures explained, with all resolutions to be decided by poll for transparency.

Financial performance review

• FY24 saw a 22% increase in total contract value to AUD 83.9 million and a 19% rise in group revenues to AUD 83.3 million, driven by renewals and growth in the Americas.

• Net profit after tax rose to AUD 27.1 million, reversing a prior year loss, with NPAT up 963% year-on-year, excluding prior impairments.

• Cash reserves increased by 72% to AUD 31.9 million, supporting future growth initiatives.

• Americas revenue grew 39%, while Europe declined 25-28% and Asia-Pacific dropped 8%.

• Proforma revenue was stable at $74.8M, with EBITDA margin at 22% and cash conversion rate at 97%.

Board and executive committee updates

• Ian Lowe appointed CEO and Managing Director effective October 1, 2024, with board composition reduced to four non-executive directors.

• Board refresh included new, growth-oriented appointments and gratitude expressed to outgoing directors.