• Robust cash conversion
• Stronger second half trading activity
• Softer FY25 renewals book impacts TCV and Statutory Revenue
• Product-led growth strategy and new CEO appointment

Integrated Research (IR), a leading global provider of observability for business-critical IT ecosystems, has provided a trading update for the year ended 30 June 2025 (FY25). The financial results remain subject to audit. Highlights include robust cash conversion, stronger second-half trading activity, and a softer FY25 renewals book impacting total contract value (TCV) and statutory revenue compared to the prior year. Despite market uncertainty leading to delays in some new business opportunities, the company experienced a stronger second half and remains focused on its product-led growth strategy. This includes the successful release of the High Value Payments (HVP) product and the signing of a top 10 US bank as its first client, as well as securing the first new business for the IR Hosted Prognosis product. The company also appointed a new CEO in October 2024 with a strong product development background. While FY25 was a transitional year, the company is laying the foundations for sustainable growth, with the development and release of AI-enabled products as a core focus in the innovation roadmap.

FY25 Pro-forma revenue steady compared to the prior year at 73-75 million AUD. FY25 EBITDA expected to be 15-17 million AUD, down 31% to 39% compared to FY24.

The company intends to launch the first of its AI-powered product capabilities in the first half of FY26, as part of its focus on developing and releasing AI-enabled products.