Integrated Research (IRI) AGM 2025 summary

Opening remarks and agenda

• Chair and CEO welcomed attendees, acknowledged traditional land owners, confirmed quorum, and emphasized innovation and product-led growth.

• Directors, executive team, auditor, and share registry representatives were introduced.

• Meeting agenda included business update, CEO presentation, Q&A, and formal business with voting.

Financial performance review

• FY25 pro forma revenue was $74.3m (down 1%), statutory revenue $68.3m (down 18%), EBITDA $15.9m (down 35%), and NPAT $13.4m (down 51%).

• Net cash increased 27% to $40.6m, with a robust balance sheet, no debt, and over AUD 40 million in cash.

• Dividend per share remained unchanged at AUD 0.02, fully franked.

• New client revenue rose 31% to $6.7m, while expansion revenue fell 51% to $3.3m; subscription fees increased 77% to $3.9m.

• 1H FY26 trading update showed a 4% decline in revenue and TCV, with EBITDA guidance down 220% due to increased investment and a significant receivables impairment.

Board and executive committee updates

• CEO Ian Lowe completed his first full year, providing clear direction and accountability.

• Board maintains a disciplined approach to governance and oversight, leveraging diverse expertise.

• Directors thanked for their ongoing support and dedication.