• Observability solutions monitor business-critical technology and infrastructure performance
• IR has reset its strategy to focus on product-led growth
• Investing in new products is essential for the Company to establish sustainable revenue growth over the medium term

Integrated Research (IR) is the leading global provider of user experience and performance management solutions for payment transactions and collaborative systems. The company's observability solutions monitor business-critical technology and infrastructure performance, with demand increasing for sophisticated solutions that can provide unified oversight of complex IT ecosystems. IR has reset its strategy to focus on product-led growth, with significant investment of available capital and future cashflow to develop and commercialize new products. The new products are focused on building new revenue opportunities with new clients in existing and new markets, as well as expansion of existing clients. This investment in product-led growth is designed to position the company for sustainable growth over the medium to long term, but is expected to reduce profits over the short to medium term. Key financial metrics for FY25 include pro forma revenue of $74.3 million, down 1% on FY24, and EBITDA of $15.9 million, down 35% on FY24. The company's 1H FY26 trading update indicates softer FY26 renewals and increased investment in product and technology, partially offset by ongoing cost management. IR's product-led growth plan includes an innovation framework focused on higher order value proposition, future-state capabilities, and modern, adaptable technology, leveraging the company's existing strengths. Key product releases in 1H FY26 include Prognosis Elevate, a Prognosis-as-a-Service offering, and Iris, an AI-powered Prognosis assistant. The company has a strong balance sheet and is executing a capital allocation framework that prioritizes innovation investment, flexibility reserves, contingency reserves, and shareholder returns.

Investing in new products is essential for the Company to establish sustainable revenue growth over the medium term. The company is executing a product-led growth plan that includes an innovation framework focused on higher order value proposition, future-state capabilities, and modern, adaptable technology, leveraging the company's existing strengths.