• Execution of product-led growth strategy gathering momentum
• Softer 1H FY26 revenue versus prior period due to softer renewals
• Significant increase in allowance for expected credit losses
• Anticipated EBITDA loss in the range of $3m to $8m for 1H FY26

Integrated Research Ltd (ASX: IRI), a leading global provider of observability for business-critical IT ecosystems, has provided a trading update for the first half of the 2026 financial year (1H FY26). The financial results remain subject to audit. The key highlights include the execution of the company's product-led growth strategy gathering momentum, with increased investment in new products and multiple key new product launches in 1H FY26. However, the company anticipates softer 1H FY26 revenue versus the prior corresponding period (PCP) in line with a softer renewals book, yet to be offset by new customer growth. Additionally, the company has reported a significant increase in the allowance for expected credit losses. As a result of these factors, Integrated Research anticipates an EBITDA loss in the range of $3 million to $8 million for 1H FY26, compared to EBITDA of $4.6 million in the prior corresponding period, which included non-operating gains of $3.3 million. The company will provide more details at the upcoming Annual General Meeting on November 24, 2025.

Integrated Research expects the following financial metrics for 1H FY26: Total Contract Value (TCV) of $23 million to $28 million, and statutory revenue of $25 million to $30.5 million. The company also anticipates an EBITDA loss in the range of $3 million to $8 million for 1H FY26.