Integrated Research (IRI) Trading Update summary

Financial performance highlights

• Total Contract Value (TCV) rebounded to $82–84m, up 20%–23% year-on-year, with statutory revenue also rising 17%–20% to $82–84m.

• Statutory EBITDA expected at $23–25m, a 90%–107% increase, driven by higher revenue and 18%–19% lower operating costs.

• Cash at bank rose 72% to $31.9m, reflecting improved collections and financial performance.

• Pro-forma revenue slightly declined by 1%–2% to $74–75m, due to revenue recognition changes.

Business drivers and segment performance

• High renewals, especially in Transact and Infrastructure, and new Collaborate wins in the Americas supported growth.

• Americas revenue grew 35%–40%, while Asia-Pacific declined 5%–10% and Europe contracted 25%–30%.

• Collaborate segment faced ongoing churn, impacting overall performance in some regions.

Strategic outlook and guidance

• FY2025 renewals expected to be second-half weighted, with greater reliance on new business for full-year results.

• Current financial strength enables a review of resourcing and capital plans to support product-led growth.

• Focus remains on developing new products to drive incremental revenue and address gaps in commercialization.