Half Year 2025 Integrated Research Ltd Earnings Call Transcript
Key Points
- Integrated Research Ltd (ASX:IRI) reported a 76% increase in new business revenue, contributing $7.6 million, indicating early progress in their product-led growth strategy.
- The company launched a new product, High Value Payments, and secured a major US bank as a foundation client, enhancing their product portfolio.
- Pro-forma revenue, which provides a more stable view of revenue over time, was down only 2%, showing underlying business stability despite softer statutory revenue.
- The Americas and APAC regions, which represent 90% of the company's pro-forma revenue, delivered stable results, with strong new business wins.
- The company's balance sheet remains strong with $31.1 million in net cash, providing a solid foundation for future investments and growth initiatives.
- Total contract value (TCV) was down 36% compared to the prior corresponding period, primarily due to a soft renewal TCV.
- Statutory revenue decreased by 29% to $28.8 million, reflecting the challenges in the renewals book.
- EBITDA was down 58% to $4.6 million, highlighting the impact of reliance on renewals and a largely fixed cost base.
- The Collaborate product, which represents 43% of pro-forma revenue, declined by 10%, indicating challenges in maintaining revenue from this segment.
- The European market underperformed with a 17% decline in pro-forma revenue, showing regional challenges amidst a market refresh.
Thank you, operator. A very good morning to everybody. My name is Ian Lowe. And I'm the CEO of IR. Welcome to the half year FY25 results briefing.
With me today is Christian Shaw, our CFO. I'm going to open today's presentation. And then, I will hand over to Christian to take us through the financial review at the conclusion of the presentation to the ASX website. And we will refer to that throughout this call.
And you can also find a copy of that presentation in the Investor Relations section of our website at IR.com. And so, I'm going to refer to the presentation throughout the call today.
And I'd like to start by going straight to the second slide. And this really just explains the business that IR is in today. And so as a software provider, the segment that we occupy is commonly referred to as observability.
Let me just explain what observability means. It literally means the observation in real time of the behavior and the performance of enterprise IT ecosystems. So the value
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