Integrated Research Limited · ASX:IRI
Integrated Research — Shareholder Meeting (November 2025)
32 slides from Integrated Research's shareholder meeting presentation, Nov 24, 2025
Slide 1: 2025 Annual General Meeting – CEO's Presentation
Integrated Research Ltd > ABN 76 003 588 449 Suite 9.03, Level 9, 420 George Street, Sydney NSW 2000 Australia t: +61 (2) 9966 1066 e: InfoAP@ir.com Market Announcement 2025 Annual General Meeting – CEO’s Presentation Sydney, 24 November 2025 – Integrated Research Limited (ASX:IRI) provides the atta
Slide 2: CEO Presentation
7 FE CEO Presentation lan Lowe
Slide 3: About IR
About IR Business critical IT environments are becoming more complex, creating material risk for enterprises across the world.
Slide 4: What is Observability?
About IR What is Observability? Observability solutions monitor business-critical technology and infrastructure performance. Demand is increasing for sophisticated observability solutions that can provide unified oversight of cluttered IT ecosystems. Monitor Reduce Revenue system downtime costs perf
Slide 5: Our Observability solutions make managing complexity a performance advantage
About IR Our Observability solutions make managing complexity a performance advantage for large enterprises. AI-enabled insights, powered by core proprietary technology Prognosis Collaborate Transact Infrastructure Unified Communications Financial services NonStop environments • Enterprise UC • Card
Slide 6: Trusted by the world's leading global enterprises
Clients Trusted by the world’s leading global enterprises Tech | Telco BFSI Health | Gov | Edu Retail | Industrial Top global telco Top Fortune 500 Large Australian companies USA banks companies companies
Slide 7: IR has reset its strategy to focus on product-led growth
IR has reset its strategy to focus on product-led growth • Significant investment of available capital and future cashflow to develop and commercialise new products. • New products are focused on building new revenue opportunities with: • new clients in existing markets and/or new markets • expansio
Slide 8: FY25 Financials
FY25 Financials
Slide 9: FY25 Key Financial Metrics
FY25 Key Financial Metrics Pro forma Revenue Statutory Revenue Net Cash $74.3m $68.3m $40.6m Down 1% on FY24 Down 18% on FY24 Up 27% on FY24 Steady underlying performance Robust capital position EBITDA Dividend Per Share NPAT $15.9m 2.00 c $13.4m Down 35% on FY24 Unchanged from FY24 Down 51% on FY24
Slide 10: Growth Metrics
Growth Metrics New Client Revenue Expansion Revenue Subscription Fees $6.7m $3.3m $3.9m Up 31% on FY24 Down 51% on FY24 Up 77% on FY24 Licence fee revenue from new clients Early stages of releasing new products Consumption based revenue Growth metrics quantify progress against the medium-term object
Slide 11: 1H FY26 Trading Update
1H FY26 Trading Update
Slide 12: 1H FY26 - Trading Update
1H FY26 - Trading Update • FY26 renewals softer than FY25, 1H FY26 revenue midpoint -4% versus PCP. • Increased investment in product and technology, partially offset by ongoing cost management. • A significant increase in the impairment of receivables largely relates to one client and unrelated to
Slide 13: Product-Led Growth
Product-Led Growth
Slide 14: Product-led growth: why?
Product-led growth: why? • Historical revenue performance has been overly reliant on contract renewals, the value of which fluctuates each year. • Revenue from new clients and expansion of existing client contracts has been inconsistent and insufficient to offset fluctuations in renewals book and th
Slide 15: Product-led growth: what does it mean?
Product-led growth: what does it mean? • Develop new products targeting sustainable growth opportunities that leverage our existing product architecture and blue-chip client base: • new clients in existing and/or new markets • expansion of existing clients • Develop new, innovative, AI enabled capab
Slide 16: Innovation Framework: three central capability themes
Innovation Framework: three central capability themes… Accelerated Unlock remediation, Improved Discover Better: AI-first + efficiencies across the client + lower critical incident cost & = Business Performance tech stack impact New products across these three capability themes in combination reposi
Slide 17: Commercialised under existing product architecture or as stand-alone products
…commercialised under the existing product architecture or as stand-alone products… 1 3 3 1 4 Collaborate Transact Infrastructure IR Labs 2 PR O GNO SI S 2 1. New capabilities/products offered as modular components under the existing product architecture (optional extras) - Example: Service Now inte
Slide 18: While diversifying our revenue model
…while diversifying our revenue model. • Flexibility for clients: offer more products/capabilities as-a-service (as well as on-prem). • Introduce hybrid pricing models: combine fixed licence fees and variable pricing (eg. based on levels of usage and/or consumption) for organic growth over time. Exa
Slide 19: Key Product Releases: 1H FY26
Key Product Releases: 1H FY26
Slide 20: Introducing Prognosis Elevate
Introducing….Prognosis Elevate • IR’s on-prem product offering is now available as a service (Prognosis-as-a-Service: Prognosis on-prem, hosted by IR) • Prognosis-as-a-Service provides significant benefits for clients (easier/faster implementation, removes day to day management & maintenance, no ver
Slide 21: Meet Iris
Meet Iris Your AI-Powered Prognosis Assistant Unlike generic AI assistants, Iris is built for observability and built into Prognosis. • Natural language • Chat-style interface “Why are dropped calls spiking in our Singapore • Industry leading subject region? Which department had the worst experience
Slide 22: Capital Management
Capital Management
Slide 23: FY26 Capital Allocation Framework
FY26 Capital Allocation Framework Innovation investment • Product innovation across the Prognosis observability business & IR-Labs (AI-first innovation lab). • 30%-35% of available capital allocated to product innovation in the medium term. Flexibility reserves • 20%-35% of available capital to Flex
Slide 24: Summary
Summary
Slide 25: Summary
Summary • Observability is growing but also maturing, the Company needs to innovate to evolve its offering and return to growth. • Investment is essential to achieving product-led growth and establishing sustainable revenue growth over the medium term: • Targeting revenue growth from new clients, ex
Slide 26: Thank you
Thank you Ian Lowe CEO and Managing Director Confidential Internal Only – Do not share externally to partners, vendors or customers
Slide 27: Appendix
Appendix
Slide 28: Full year Pro forma recurring revenue
Full year Pro forma recurring revenue Reconciliation of statutory to pro forma revenue Full Year Revenue 2022 2023 2024 2025 2022 2023 2024 2025 A$M A$M A$M A$M %chg %chg %chg %chg Infrastructure 17.8 18.6 19.2 19.9 -2% 4% 4% 3% Transact 10.9 11.5 12.7 16.3 10% 5% 11% 29% Collaborate 39.6 38.3 34.9
Slide 29: Reconciliation of Revenue and NPAT to EBITDA and Pro forma EBITDA
Reconciliation of Revenue and Pro forma Revenue, and Net Profit After Tax (NPAT) to EBITDA and Pro forma EBITDA A$M 2025 2024 Revenue 68.3 83.3 1 Pro forma revenue provides a non-statutory alternate view of underlying Term licence fees recognised upfront (44.3) (58.9) performance by restating term l
Slide 30: Reconciliation of NPAT to Adjusted NPAT and Underlying Basic EPS
Reconciliation of Net Profit After Tax (NPAT) to Adjusted NPAT and the calculation of Underlying Basic Earnings Per Share (UBEPS) A$M 2025 Net Profit after Tax (NPAT) 13.4 Adjustments to remove: Currency exchange gains (0.5) Gain on sale of testing solution buisness (1.2) Tax on adjustments (1) 0.5
Slide 31: Glossary
Glossary EBI TDA EBI TDA (Earnings Before Int erest, Taxes, Depreciation and Amortisation) is a non-IFRS measure used to evaluat e the Co mpany's operating performance by focusing on profit fro m core operat io ns and excluding t he effects o f capital st ructure, tax rates, a nd non-cash accounting
Slide 32: Disclaimer
Disclaimer SUMMARY INFORMATION FORWARD LOOKING STATEMENTS NOTAN OFFER This document and the associated transcript (together “the presentation”) has The presentation contains certain "forward-looking statements”. The words The presentation is for information purposes only and is not a prospectus, bee
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