• Strengthens balance sheet and transforms into a more focused organization
• Executing a FY26 business efficiency program to enhance operating leverage and profitability
• Targets a sustainable Cash EBITDA margin of ~25% by end of FY26

Iress Limited (ASX:IRE) has announced a business efficiency program to permanently increase margins and also confirmed and tightened its FY25 guidance. Following the successful divestment of six non-core businesses over the past two years, Iress has strengthened its balance sheet and transformed into a more focused and streamlined organisation centred on two core global enterprise software business units - Wealth and Trading & Market Data. Looking ahead, Iress is now executing a FY26 business efficiency program designed to further enhance operating leverage, strengthen profitability, and re-energise the business for growth through a sharper focus on product, technology, and client engagement. The program accelerates and broadens Iress' stranded cost-reduction initiative to deliver enduring structural efficiencies across the Group. The program targets a sustainable Cash EBITDA margin (Adjusted EBITDA less Capex) of ~25% by the end of FY26 (exit run-rate:ERR), compared with an expected ~19% Cash EBITDA margin for FY25. This increased level of margin performance is expected to be maintained on an ongoing basis, reflecting a structurally more efficient operating model. Iress confirms its FY25 guidance, with Adjusted EBITDA expected to be in the range of $128 million to $132 million (prior guidance $127 million to $135 million) and Underlying Profit After Tax (UPAT) in the range of $67 million to $71 million (prior guidance $65 million to $73 million).

Iress confirms its FY25 guidance, with Adjusted EBITDA expected to be in the range of $128 million to $132 million and Underlying Profit After Tax (UPAT) in the range of $67 million to $71 million.

The FY26 business efficiency program targets a sustainable Cash EBITDA margin of ~25% by the end of FY26, reflecting a structurally more efficient operating model. This increased level of margin performance is expected to be maintained on an ongoing basis.