Integrated Research Limited · ASX:IRI
Integrated Research — FY2025 Earnings Presentation
32 slides from Integrated Research's earnings presentation, Aug 26, 2025
Slide 1: Market Announcement: Investor 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 Investor Presentation Sydney, 26 August 2025 – Further to Integrated Research Limited’s (Company, IR) (ASX:IRI) announcement to the
Slide 2: FY2025 Full-Year Financial Results
Integrated Research Limited (ASX:IRI) For personal use only FY2025 Full-Year Financial Results 26 August 2025 Ian Lowe, CEO Christian Shaw, CFO 1
Slide 3: With IR you can… Discover better
With IR you can… For personal use only Discover better Deeper insight. Better experiences. Unlimited discovery. Powered by Prognosis We go deep into data to Monitor Reduce discover new AI-powered performance in real time downtime and outages insights to optimize performance of business- Turn high fi
Slide 4: Trusted by the world's leading organisations
Trusted by the world's leading organisations For personal use only Tech | Telco BFSI Health | Gov | Edu Retail |Industrial | Other 4/25 Fortune 500 top 4/20 largest Australian 3/10 top telcos 5/10 top USA banks companies companies (market cap) 3
Slide 5: Where we have come from…
Where we have come from… For personal use only • 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 i
Slide 6: IR has reset its strategy to focus on product-led growth
IR has reset its strategy to focus on product-led growth For personal use only • 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
Slide 7: Product-led growth underway
Product-led growth underway For personal use only • August 2024: product-led growth strategy announced. • October 2024: new CEO commenced. • Over the last 8 months the Company has released multiple new products, highlights include: • High Value Payments (released December 2024) – reduces compliance,
Slide 8: Observations: Opportunities and Challenges
Observations For personal use only Opportunities • IT ecosystems inside enterprise grade organisations are more complicated, the need for observability is expanding, not contracting. • AI and machine learning (ML) is an innovation and value accelerator. • First order benefits of AI and ML are unlock
Slide 9: Financials
For personal use only Financials
Slide 10: FY25 Key Financial Metrics
FY25 Key Financial Metrics For personal use only Pro forma Revenue Statutory Revenue Dividend $74.3m $68.3m 2.00 cps Down 1% on FY24 Down 18% on FY24 Unchanged from FY24 Steady underlying performance Fully franked EBITDA NPAT Net Cash $15.9m $13.4m $40.6m Down 35% on FY24 Down 51% on FY24 Up 27% on
Slide 11: Pro Forma Revenue
Pro Forma Revenue For personal use only A$M FY25 Pro forma Revenue: $74.3m (-1%) 74.8 74.3 8.0 6.8 • Pro forma revenue apportions upfront licence fee revenue evenly over the life of the contract and is indicative of the underlying performance of the business. • Pro forma revenue remained steady at $
Slide 12: Pro Forma Revenue - by territory
Pro Forma Revenue - by territory New business growth in Americas and APAC For personal use only Americas APAC Europe $7.9m $14.8m $51.6m • Americas up 3% vs PCP. • APAC down 6% up vs PCP. • Europe down 10% vs PCP. • New business sales including key • New business sales including key win • Go-to-mark
Slide 13: Pro Forma Revenue - by product
Pro Forma Revenue - by product For personal use only Collaborate Transact Infrastructure $19.9m $31.3m $16.3m • Collaborate down 10% vs PCP. • Transact growth up 29% vs PCP. • Infrastructure growth up 3% vs PCP. • New business and upsell more than • New business and upsell. • Largely driven by upsel
Slide 14: Statutory Revenue
Statutory Revenue Statutory revenue impacted by cyclical renewals book For personal use only A$M FY25 Statutory Revenue: $68.3m (-18%) 83.3 7.7 • Under statutory revenue: 2.2 • the licence component of a contract is 68.3 14.3 6.6 recognised up-front, and can be lumpy, rather 3.9 than over the life o
Slide 15: Statutory EBITDA
Statutory EBITDA Operating profit, assisted by strong cost management and other gains For personal use only In A$M FY25 FY24 Change % FY25 EBITDA: $15.9m (-35%) • EBITDA performance stronger in 2H FY25 yet down Total revenue 68.3 83.3 (18%) against the prior year due to softer renewals book. Total o
Slide 16: Robust Balance Sheet & Cash Generation
Robust Balance Sheet & Cash Generation For personal use only Period Ended Jun25 Jun24 YoY FY25 NET ASSETS: $100.6m (+14%) FY25 NET CASH: $40.6m (+27%) A$M A$M • Strong balance sheet with cash of $40.6m and no • Cash flow from operations of $8.7m Cash & equivalents 40.6 31.9 27% debt • Increased inco
Slide 17: Licence Fee Growth Metrics
Licence Fee Growth Metrics For personal use only New Client Revenue Expansion Revenue Subscription Fees $6.7m $3.3m $3.9m Up 31% on FY24 Down 51% on FY24 Up 77% on FY24 Licence fee revenue from new clients Early stages of releasing new products Consumption based revenue • Product-led growth strategy
Slide 18: Capital Management
For personal use only Capital Management
Slide 19: FY26 Capital Allocation Framework
FY26 Capital Allocation Framework Investing for Product-Led Growth For personal use only Capital Allocation • Product-led growth investment in FY25 was foundational: key talent secured, development platform established, early-stage progress via new product releases - modest deployment of capital. •
Slide 20: Key Take-Aways
For personal use only Key Take-Aways
Slide 21: Where we have come from…
Where we have come from… For personal use only • Historical revenue performance has been inconsistent and reflects the fluctuating value of annual renewals book. • Revenue from new clients and expansion revenue has been insufficient to absorb fluctuations in renewals book and the impact of churn. •
Slide 22: Investing for product-led growth
Investing for product-led growth For personal use only • Capital position now provides for significant FY26 investment to accelerate development and commercialisation of new products: IR’s growth strategy is product-led. • Investment in product-led growth is: • designed to position the company for s
Slide 23: Investing for product-led growth means…
Investing for product-led growth means… For personal use only • The company is positioning for sustainable growth over the medium to long term. • Investment of capital and future profits will be disciplined; milestone-based, ROI led approach. • Profit performance will dampen over the short to medium
Slide 24: Appendix
For personal use only Appendix
Slide 25: Total Contract Value (TCV)
Total Contract Value (TCV) Softer FY25 renewals book For personal use only A$M FY25 TCV: $67.3m (-20%) 83.9 7.6 • TCV is the total value of client contracts secured in any given period. 67.3 15.3 4.9 • FY25 TCV softer driven by 20% decline in renewals 13.8 book. • New business at $13.8m down 10% vs
Slide 26: EBITDA Cash Flow Bridge
EBITDA Cash Flow Bridge- A$M Timing differences, and taxes reduced net operating cash flow For personal use only 5.6 21.5 15.9 (2.1) 1.6 (0.3) 8.7 (7.6) (4.4) EBITDA - statutory Over-time revenue Pro forma E BITDA Non OCF Working Share-based Other Income taxes paid Net cash fro m conversion capital/
Slide 27: Operating Costs
Operating Costs – A$M Disciplined cost management continues - total costs down 5%1 For personal use only Total expenditure Product and Technology • FY24 to FY25 product and 58.0 technology expense uplift reflects 54.9 early stage of advancing product-led growth. 12.8 13.5 • No capitalisation during
Slide 28: Full year pro forma recurring revenue
Full year pro forma recurring revenue Reconciliation of statutory to pro forma revenue For personal use only Full Year Revenue 2022 2023 2024 2025 2022 2023 2024 2025 A$M A$M A$M A$M %chg %chg %chg %chg Infrastructure 17.8 18.6 19.2 19.9 -2% 4% 4% 3% Transact 10.9 11.5 12.7 16.3 10% 5% 11% 29% Colla
Slide 29: Reconciliation of Revenue and NPAT to EBITDA
Reconciliation of Revenue and Pro forma Revenue, and Net Profit After Tax (NPAT) to EBITDA and Pro forma EBITD For personal use only A$M 2025 2024 Revenue 68.3 83.3 Term licence fees recognised upfront (44.3) (58.9) 1 Pro forma revenue provides a non-statutory alternate view of underlying performanc
Slide 30: Glossary
Glossary For personal use only EBI TDA EBI TDA (Earnings Before Int erest, Taxes, Depreciation and Amortisation) is a non-IFRS measure used to evaluat e the Company's operating performance by focusing on profit from core operations and excluding the effects of capital struct ure, t ax rates, and non
Slide 31: Disclaimer
Disclaimer For personal use only SUMMARY INFORMATION FORWARD LOOKING STATEMENTS NOT AN 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 i
Slide 32: Thankyou
For personal use only Thankyou