• Growth in new business revenue, up 76% versus prior period
• Softer 1H total contract value (TCV) and statutory revenue, reflecting focus on new business
• EBITDA down 58% due to softer renewals, offset by cost management and other gains

Integrated Research Ltd (IR) reported its 1H FY25 results, highlighting progress against its strategic objectives. New business revenue grew 76% versus the prior corresponding period, reflecting the company's focus on accelerating new client wins and upselling to existing clients. However, this was offset by a softer 1H renewals book, leading to a 36% decline in total contract value (TCV) to $26.5m and a 29% decline in statutory revenue to $28.8m. Despite the revenue softness, IR maintained a disciplined approach to costs, with operating expenses down 4%. EBITDA declined 58% to $4.6m, but this was partly offset by $3.3m in non-operating gains from foreign exchange and the sale of a non-core business. The company's pro forma revenue, which adjusts for the timing of license fee recognition, remained relatively steady at $36.6m, down 2% versus the prior period. IR continues to maintain a strong balance sheet with $31.1m in net cash. The company is focused on transitioning to sustainable growth through investment in new products and growing its new business pipeline.

IR did not provide any high-importance, price-sensitive forward-looking financial metrics in the announcement.

IR is focused on transitioning to sustainable growth through investment in innovation to create and commercialize new products, growing its sales pipeline and revenue contribution from new business (new clients and upsell to existing clients), and reducing its reliance on contract renewals.