Iph Ltd. · ASX:IPH
Iph — Investor Presentation (February 2026)
34 slides from Iph's investor presentation, Feb 19, 2026
Slide 1: 2026 Half Year Results
2026 Half Year Results Investor Presentation Half year ended 31 December 2025 19 February 2026 Presented by Dr Andrew Blattman Brendan York Managing Director & CEO Chief Financial Officer IPH Limited IPH Limited
Slide 2: Disclaimer
HY26 Results iphlimited.com Disclaimer This document has been prepared by IPH Limited (IPH) and comprises written materials/slides for a presentation concerning IPH. This presentation is for information purposes only and does not constitute or form part of any offer or invitation to acquire, sell or
Slide 3: Contents
HY26 Results iphlimited.com 01 04 HY26 Highlights 04 Contents 02 Financial Results Summary and Priorities 20 05 08 03 Segments Update Appendix 24 15 2
Slide 4: About IPH
HY26 Results iphlimited.com IPH offices IPH coverage Primary IP markets Secondary IP markets About IPH A leading international IP services group No.1 Patent group in Australia, Canada, New Zealand, Indonesia and Singapore1 Trade mark group in Australia, Canada and New Zealand1 1,700 26 Employees2 IP
Slide 5: HY26 Highlights
HY26 Results iphlimited.com 01 HY26 Highlights 4
Slide 6: Increased earnings and dividends in HY26
HY26 Results iphlimited.com Increased earnings and dividends in HY26 Strong turnaround in Canada Strong turnaround in Canada and return to growth in Asia Organic revenue growth and drives improved performance synergies/cost‑out drives 18.9% lift in like-for-like earnings Underlying EBITDA1 Underlyin
Slide 7: Enhanced scale and diversity of IPH Group
HY26 Results iphlimited.com Enhanced scale and diversity of IPH Group Market leading presence across key secondary IP markets › Enhanced global scale provides resilience HY26 Total revenue HY26 Underlying EBITDA Patent filings and diversity to earnings base from exposure by operating segment by oper
Slide 8: Strengthening our competitive platform
HY26 Results iphlimited.com Strengthening our competitive platform Driving operational efficiencies to leverage scale and capabilities across IPH Refocusing business development initiatives for growth Driving further efficiencies across the IPH global network › Canada – Continued focus on organic re
Slide 9: Financial Results
HY26 Results iphlimited.com 02 Financial Results 8
Slide 10: Key financial metrics
HY26 Results iphlimited.com Key financial metrics Revenue Underlying EBITDA1 Underlying NPATA2 $363.9m $107.1m $62.6m 6.5% 6.6% 2.6% Statutory NPAT Underlying Basic EPSA3 Statutory Basic EPS $41.2m 24.0cps 15.8cps 10.5% 3.9% 12.1% Interim Dividend4 Cash conversion 19cps 101% 11.8% 1. Underlying EBIT
Slide 11: Financial performance
HY26 Results iphlimited.com Financial performance $’m Revenue Other income HY26 363.9 1.2 HY25 341.6 2.7 Movement 22.3 (1.5) › Revenue increase of 6.5% including › Underlying EBITDA margin up 0.1pp 365.1 344.3 20.8 full period contribution of Bereskin reflecting improved performance Agent fee expens
Slide 12: Balance sheet
HY26 Results iphlimited.com Balance sheet $'m Cash and cash equivalents Trade and other receivables 31 Dec 2025 49.0 162.8 30 Jun 2025 59.0 174.9 Contract assets 39.0 32.7 Intangibles 961.0 1,006.8 › Trade and other receivables decreased $12.1m from 30 June 2025 with improved collections and an over
Slide 13: Cashflow and working capital
HY26 Results iphlimited.com Cashflow and $'m Underlying EBITDA HY26 107.1 HY25 100.5 working capital Less: Non-underlying adjustments (3.9) (5.5) EBITDA 103.2 95.0 Add back non-cash expenses - Share-based payment expense 1.4 1.9 › Continued strong cash generation with HY26 cash conversion of 101% Wo
Slide 14: Capital Management
HY26 Results iphlimited.com Capital Management Debt Debt 31 Dec 25 $’m 388.3 30 Jun 25 $’m 415.3 31 Dec 24 $’m 400.2 Cash (49.0) (59.0) (98.0) › Debt down $27m (6.5%) from 30 June 2025 Net Debt 339.3 356.3 302.2 › FY26 Interim dividend of 19 cents per share, up 11.8% on pcp Leverage ratio2 1.8x 1.9x
Slide 15: Segment like-for-like financial performance
HY26 Results iphlimited.com Segment like-for-like financial performance Canada Asia ANZ Group Revenue1 7.3% 3.5% (6.1)% 0.7% Underlying EBITDA1 18.9% 1.5% (10.6)% 3.2% Underlying EBITDA margin 2.6pp (0.8)pp (1.6)pp 0.7pp 1. Like-for-Like Revenue and Underlying EBITDA calculated by removing: impact o
Slide 16: Segments Update
HY26 Results iphlimited.com 03 Segments Update 15
Slide 17: Canada
HY26 Results iphlimited.com Canada Financial Metrics % Change HY26 HY25 % Change Like-for-like1 Market commentary Revenue 161.6 134.8 19.9 7.3 › Smart & Biggar is the no.1 patent filer Underlying EBITDA 41.7 32.6 27.9 18.9 and no.1 trade mark filer in Canada.2 Underlying EBITDA margin 25.8% 24.2% 1.
Slide 18: Update on CIPO issues
HY26 Results iphlimited.com Update on CIPO issues Some easing of CIPO disruption in first half, Workflow impact of CIPO delay (Smart & Biggar only) however no meaningful recovery of workflow backlog 2,500 › CIPO service levels have successfully stabilised 2,000 following significant volatility. Whil
Slide 19: Asia
HY26 Results iphlimited.com Asia Financial Metrics % Change Market commentary HY26 HY25 % Change Like-for-like1 › The overall Singapore patent filing market Revenue 63.5 60.5 5.0 3.5 declined by 8.6% in HY26 YTD November compared to same period in HY25. Underlying EBITDA 26.5 26.2 1.1 1.5 › IPH Sing
Slide 20: ANZ
HY26 Results iphlimited.com ANZ Financial Metrics % Change Market commentary HY26 HY25 % Change Like-for-like1 › The Australian patent market increased by Revenue 146.2 158.5 (7.8) (6.1) 12.9% in HY26 while IPH filings were down by 5.4% in HY26 compared to HY25. However, the increase Underlying EBIT
Slide 21: Summary and Priorities
HY26 Results iphlimited.com 04 Summary and Priorities 20
Slide 22: Priorities for FY26
HY26 Results iphlimited.com Priorities for FY26 Leverage market-leading integrated Capitalise on filing increase in Asia, Refocused ANZ business platform in Canada to drive further targeting international corporate development initiatives targeting organic growth. We continue to expect clients and c
Slide 23: Q&A
HY26 Results iphlimited.com Q&A 22
Slide 24: Thank you
HY26 Results iphlimited.com Thank you 23
Slide 25: Appendix
HY26 Results iphlimited.com 05 Appendix 24
Slide 26: Foreign currency sensitivity
HY26 Results iphlimited.com Foreign currency sensitivity Earnings currency sensitivity Service charge and operating expense currencies › Based on HY26 USD currency financial data across the Group, approximately 34% of annualised revenue was generated in USD, whilst only a very small proportion of op
Slide 27: Reconciliation of Statutory NPAT to Underlying NPATA
HY26 Results iphlimited.com Reconciliation of Statutory NPAT to Underlying NPATA $'m HY26 HY25 Non-underlying expenses include: Statutory NPAT 41.2 37.3 › IT SaaS implementation costs relate to ERP implementation in Canada and ongoing roll out of Group HRIS and Accounts Payable automation software.
Slide 28: Patent market – Australia
HY26 Results iphlimited.com Patent market – Australia Australian patent filings – market1 IPH Group market share2 20,000 35% 30 32.3% 19,000 19,509 31.5% 30.4% 25 18,957 25.4% 20 18,000 18,168 15 18,056 10 17,000 17,277 5 16,000 0 HY22 HY23 HY24 HY25 HY26 HY23 HY24 HY25 HY26 › The Australian patent
Slide 29: Patent market – Singapore
HY26 Results iphlimited.com Patent market – Singapore Singapore patent filings – market1 IPH Group market share2 8,000 25% 20 22% 22.6% 6,000 21.5% 22.0% 20.1% 6,080 6,202 5,620 5,711 15 5,218 4,000 10 2,000 5 0 0 HY22 HY23 HY24 HY25 HY26 HY22 HY23 HY24 HY25 HY26 › Latest data for HY26 to Nov indica
Slide 30: IPH patent filings – Asia
HY26 Results iphlimited.com IPH patent filings – Asia1 700 600 500 400 300 200 100 0 HY24 HY25 HY26 HY24 HY25 HY26 HY24 HY25 HY26 HY24 HY25 HY26 HY24 HY25 HY26 HY24 HY25 HY26 HY24 HY25 HY26 China Hong Kong Indonesia Malaysia Philippines Thailand Vietnam › The overall Asian IPH patent filings (exclud
Slide 31: US PCT applications
HY26 Results iphlimited.com US PCT applications US PCT applications CAGR 10 Yr (CY15 to CY24) = -0.5% PCT applications from the US – % change on PY (last 6 months)1 70,000 1.0% % growth in PCT applications filed from US applicants 0 60,000 (1.0) 50,000 (2.0) 40,000 (3.0) 30,000 (4.0) (5.0) 20,000 (6
Slide 32: PCT filings
HY26 Results iphlimited.com PCT filings China PCT applications CAGR 10 Yr (CY15 to CY24) = 8.9% Japan PCT applications CAGR 10 Yr (CY15 to CY24) = 0.9% 80,000 80,000 60,000 60,000 40,000 40,000 20,000 20,000 0 0 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 07 08 09 10 11 12 13 14 15 16 17 1
Slide 33: Patent lifecycle
HY26 Results iphlimited.com Patent lifecycle Long-life cycle supports consistent revenues and earnings Each year more than half1 of the total patent applications Typical (indicative) foreign patent route in Australia filed in Australia come through the PCT system in the form of PCT National Phase pa
Slide 34: IPH Limited
IPH Limited Level 22, Tower 2, Darling Park 201 Sussex Street Sydney NSW 2000, Australia T 02 9393 0301 F 02 9261 5486 E info@iphlimited.com