• TCV and statutory revenue expected at upper end of previous guidance, down against PCP
• Pro-forma revenue steady against PCP
• EBITDA expected to exceed previous guidance range, down 62% against PCP
• Significant improvement in new business TCV versus PCP
• Stronger renewals book in second half of FY

Integrated Research (ASX:IRI) has provided an update on its unaudited results for the six months ended 31 December 2024 (1H FY25). Key highlights include:- TCV (total contract value) and statutory revenue expected to be at the upper end of previous guidance, down against the prior corresponding period (PCP) due to softer 1H renewals book- Pro-forma revenue steady against PCP- EBITDA expected to exceed previous guidance range, down by 62% (midpoint) against PCP- Significant improvement in new business TCV versus PCP, up 77% to $7.6m- Stronger renewals book expected in the second half of the financial year- Disciplined cost management continuing- Cash at bank steady at $31.1mDue to a strong finish to the first half, TCV is anticipated to be in the range of $26m to $27m, and statutory revenue $28m to $29m. New business (new clients and upsell to existing clients) is expected to account for 29% of total TCV, a significant increase versus PCP.1H EBITDA is expected to exceed previous guidance, in the range of $3.9m to $4.5m, including a $2.1m benefit in FX translation and $1.2m in profit from the sale of the non-core testing solutions business. Despite softer first half TCV, cash at bank remains steady at $31.1m.

TCV expected in the range of $26m to $27m, and statutory revenue $28m to $29m for 1H FY25.