• Continuing business delivering strong and improving financial results
• Transformation now complete, focus on driving growth
• Strengthened balance sheet supporting re-investment and shareholder returns

Iress has reported strong financial results for the first half of FY25, with its continuing business delivering significant improvements in revenue, earnings, and margins. The company's recurring revenue grew by 4.5%, while non-recurring revenue increased by 67.1%, leading to an overall revenue growth of 6.8% for the continuing business. Adjusted EBITDA for the continuing business grew by 8.7%, with margin expansion of 42 basis points. Underlying EPS also increased by 19.2% compared to the prior corresponding period.The company has completed its transformation, having divested six non-strategic assets for a total consideration of $271 million. This has enabled Iress to strengthen its balance sheet, with net debt declining by $192 million over the past 12 months. The company is now focused on driving growth, leveraging its core competencies in wealth and trading technology to take advantage of significant market tailwinds.Iress is expanding its trading and wealth suites, increasing connectivity and interoperability, and providing access to advice for millions of unadvised individuals. The company is also executing a 'stranded cost' program to align its cost base with the continuing business requirements, targeting annualized savings of $12-$16 million by FY27. These savings will be reinvested in new growth initiatives to further enhance the company's performance.Overall, Iress is well-positioned to capitalize on the significant opportunities in the wealth and trading technology markets, with a strengthened balance sheet, a focused strategy, and a commitment to driving sustainable growth.

FY25 Adjusted EBITDA: $127m - $135m FY25 UPAT: $65m - $73m

Iress is accelerating initiatives to capture new revenue streams and drive growth, with a clear strategic plan for self-funded organic growth. The company expects to maintain its core revenue growth at 4-5%, with new growth initiatives driving further uplift of 1-2% by Year 3 and 3-4% by the end of Year 5.