Integrated Research Limited · ASX:IRI
Integrated Research — H1 FY26 Earnings Presentation
29 slides from Integrated Research's earnings presentation, Feb 26, 2026
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 February 2026 – Integrated Research Limited’s (Company, IR) (ASX:IRI) provides the attached invest
Slide 2: Integrated Research H1 FY26 Results
For personal use only ABOUT IR INTEGRATED RESEARCH (ASX:IRI) H1 FY26 RESULTS 26 February 2026 2
Slide 3: Disclaimer
Disclaimer For personal use only SUM MARY INF ORMATION FORWARD LOOKING STATEMENTS NOT AN OFFER This do cume nt and the as soci ated transcr ipt (to geth er “th e The pres entation con tain s certain "forward-loo kin g s tatemen ts”. Th e The pres entation is fo r info rmation pu rpo ses on ly an d i
Slide 4: Business Update
For personal use only H1 FY26 RESULTS BUSINESS UPDATE Ian Lowe, CEO and Managing Director
Slide 5: H1 FY26 Key Themes
H1 FY26 RESULTS H1 FY26 KEY THEMES For personal use only 1. H1 financial performance Revenue slightly down due to a softer renewals book, earnings impacted by expected credit losses, cash improvement. 2. Continued product-led growth execution New products launched, early-stage sales and adoption pro
Slide 6: Product-Led Growth Highlights
COLLABORATE H1 FY26 RESULTS PRODUCT-LED GROWTH HIGHLIGHTS: For personal use only • Launched first AI product - Iris, a natural language AI interface powering deeper discovery, foundational to broader AI enabled innovation strategy. • Launched Elevate (Prognosis-as-a-service), provides clients the op
Slide 7: Financial Update
For personal use only H1 FY26 RESULTS FINANCIAL UPDATE Christian Shaw, CFO
Slide 8: H1 FY26 Key Financial Metrics
FINANCIALS H1 FY26 KEY FINANCIAL METRICS For personal use only Pro forma Revenue Statutory Revenue EBITDA $34.4m $28.3m ($3.1m) Down 6% on H1 FY25 Down 2% on H1 FY25 H1 FY25 $4.6m profit NPAT Cash ($1.5m) $43.6m H1 FY25 $4.6m profit Up 8% on Jun 25 Refer to Glossary within the Appendix for definitio
Slide 9: Pro Forma Revenue
FINANCIALS PRO FORMA REVENUE For personal use only H1 FY26 Pro forma Revenue: $34.4m (-6%) 36.6 34.4 • Pro forma revenue apportions upfront license fee revenue 4.2 3.1 evenly over the life of the contract. • 91% of Pro forma revenue is secured via term-based contracts. 32.4 • Pro forma revenue of $3
Slide 10: Pro Forma Revenue by Territory and Product
FINANCIALS PRO FORMA REVENUE BY TERRITORY AND PRODUCT For personal use only TERRITORY ($M) PRODUCT ($M) EUROPE 3.5 Infrastructure 9.6 Collaborate APAC AMERICAS 17.1 7.3 23.5 Transact 7.7 • Americas down 6%, APAC down 7%, Europe down 6% vs • Collaborate down 9% vs PCP, new business and PCP expansion
Slide 11: Statutory Revenue
FINANCIALS STATUTORY REVENUE For personal use only Consistent with PCP 28.8 28.3 3.8 3.1 0.9 H1 FY26 Statutory Revenue: $28.3m (-2%) 1.0 6.5 6.1 • Increase in License Fees vs PCP underpinned by new client contracts. • Softer services revenue substantially driven by sale of testing business at end of
Slide 12: Statutory EBITDA
FINANCIALS STATUTORY EBITDA For personal use only Steady operating profit and prudent cost management In A$M H1 26 H1 25 Change % H1 FY26 EBITDA: ($3.1m) Total revenue 28.3 28.8 (2%) • EBITDA decline vs PCP reflects expected credit losses Expected credit losses (ECL)1 (4.8) - NM in H1 FY26 and large
Slide 13: Balance Sheet & Cash Generation
FINANCIALS BALANCE SHEET & CASH GENERATION (1) For personal use only 31.3 ($M) 1.9 43.6 40.6 (0.5) Period Ended Dec-25 Jun-25 Change % (25.6) (0.1) (3.5) (0.5) A$M A$M Cash & equivalents 43.6 40.6 8% Net cash Cas h receipts Cas h paid to Income tax Interest Payment of Payment of Exc hage rate Net ca
Slide 14: Product-Led Growth Update
For personal use only H1 FY26 RESULTS PRODUCT-LED GROWTH UPDATE Ian Lowe, CEO and Managing Director
Slide 15: Product-Led Growth (PLG)
PRODUCT STRATEGY PRODUCT-LED GROWTH (PLG) For personal use only Focus on PLG strategy execution is driving early progress against key growth metrics. Why we transitioned to a product-led growth strategy: • Historical revenue performance has been overly reliant on contract renewals, the value of whic
Slide 16: Key Growth Metrics: Early-Stage Progress
PRODUCT STRATEGY KEY GROWTH METRICS: EARLY-STAGE PROGRESS For personal use only New Client Revenue Expansion Revenue Subscription Fees $4.6m $1.6m $0.9m Up 12% on H125 Up 110% on H125 Down 3% on H125 Licence fee revenue Early stages of releasing Consumption-based from new clients new products revenu
Slide 17: Elevate, Iris and High Value Payments
PRODUCT STRATEGY Elevate: Prognosis-as-a-service UPDATE: • Cloud based solution, strongly aligned to Collaborate offering. For personal use only • Focused on new clients – no migration required, sales cycle up to 12 months. New products to be released under a subscription model will strengthen the E
Slide 18: Beyond Observability: Intelligence That Powers Elite Enterprise Performance
PRODUCT STRATEGY BEYOND OBSERVABILITY: INTELLIGENCE THAT POWERS For personal use only ELITE ENTERPRISE PERFORMANCE AI First Interoperable Remediation • Iris: new insights from • Integrating Prognosis into client • Remediation prompts – Prognosis data. workflows and business processes. reactive and '
Slide 19: Summary Observations
SUMMARY OBSERVATIONS… For personal use only • H1 FY26 performance reflects historical under investment in new products and softer renewals book. • Substantial, sustained investment to build and commercialise new products is underway (product-led growth). • New product momentum, modest improvement in
Slide 20: Thank You
For personal use only H1 FY26 RESULTS THANK YOU
Slide 21: Appendix
For personal use only H1 FY26 RESULTS APPENDIX
Slide 22: Total Contract Value (TCV)
FINANCIALS TOTAL CONTRACT VALUE (TCV) For personal use only Stronger new business contribution 26.5 26.8 H1 FY26 TCV: $26.8m (+1%) 3.0 3.4 • TCV is the total value of client contracts secured in any given period. 7.6 8.3 • Softer H1 FY26 renewals book, offset by new business growth. • New business a
Slide 23: EBITDA Cash Flow Bridge
FINANCIALS EBITDA CASH FLOW BRIDGE ($M) For personal use only Timing differences increased net operating cash flow 6.0 3.3 6.2 5.5 (0.6) (0.1) Statutory EBITDA EBITDA - statutory Over-time revenue Cost deferral related to Pro fo rma EBITDA Working c apital/Other Inc ome taxe s paid Ne t c ash fro m
Slide 24: Operating Expenses
FINANCIALS OPERATING EXPENSES – A$M For personal use only Disciplined cost management • Total operating expenses of $31.7m includes credit losses and Total expenditure Product and Technology depreciation & amortisation. 31.7 • H1 FY25 to H1 FY26 product and 27.6 technology expense uplift reflects in
Slide 25: Reconciliation of Revenue and Pro Forma Revenue, NPAT to EBITDA
FINANCIALS RECONCILIATION OF REVENUE AND PRO FORMA REVENUE, AND NET For personal use only PROFIT AFTER TAX (NPAT) TO EBITDA AND PRO FORMA EBITDA Interim results - $M H1 FY26 H1 FY25 1 Pro forma revenue provides a non-statutory alternate view of underlying Revenue 28.3 28.8 performance by restating t
Slide 26: H1 FY26 Pro Forma Recurring Revenue
FINANCIALS H1 FY26 PRO FORMA RECURRING REVENUE For personal use only Reconciliation of statutory to pro forma revenue Half Year Revenue H1 FY23 H1 FY24 H1 FY25 H1 FY26 H1 FY23 H1 FY24 H1 FY25 H1 FY26 $M $M $M $M %chg. %chg. %chg. %chg. Infrastructure 9.4 9.3 9.9 9.2 4% 0% 6% (8%) Transact 5.5 6.2 6.
Slide 27: Financial Performance at Top End of Guidance
FINANCIALS FINANCIAL PERFORMANCE AT TOP END OF GUIDANCE For personal use only TCV Statutory Revenue EBITDA Up 5% on guidance (midpoint) Up 2% on guidance (midpoint) Up 43% on guidance (midpoint) $26.8m $28.3m ($3.1m) $23m $28m $25m $30.5m ($8m) ($3m) Refer to Glossary within the Appendix for definit
Slide 28: Glossary
FINANCIALS GLOSSARY For personal use only EBITDA EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) is a non-IFRS measure used to evaluate the Company's operating performance by focusing on profit from core operations and excluding the effects of capital structure, tax rates, an
Slide 29: Disclaimer
Disclaimer For personal use only SUM MARY INF ORMATION FORWARD LOOKING STATEMENTS NOT AN OFFER This do cume nt and the as soci ated transcr ipt (to geth er “th e The pres entation con tain s certain "forward-loo kin g s tatemen ts”. Th e The pres entation is fo r info rmation pu rpo ses on ly an d i