FY24 Trading Update
Released
Released
Announcement PDF
Integrated Research Ltd > ABN 76 003 588 449
Level 9, 100 Pacific Highway, North Sydney NSW 2060 Australia
t: +61 (2) 9966 1066 e: info.ap@ir.com
MARKET ANNOUNCEMENT
Trading Update and FY24 Guidance
Sydney, 9 May 2024 – Integrated Research (IR) (ASX: IRI), a leading global provider of user experience and
performance management solutions for payment transactions and collaboration systems provides the following
trading update for the 10 months ended 30 April 2024 and FY24 guidance.
Key Highlights1
•
•
•
•
Year to date TCV, Revenue and EBITDA performance up 8%, 11% and 93%, respectively on PCP
Secured $8.4m in new business TCV in 2H FY24 to date, including six new customers, predominantly in the
Americas and Collaborate product portfolio
Solid pipeline leading into 2024 financial year end
FY24 guidance is for TCV, Revenue and EBITDA to materially exceed FY23 results
Ten months ended
(A$m)
30 April 2024
(un-audited)
30 April 2023
(un-audited)
% change
Total contract value
Revenue
EBITDA
59.1
61.4
13.9
54.8
55.3
7.2
8%
11%
93%
Total Contract Value (TCV) for the 10 months to 30 April 2024 was $59.1m, up 8% on the previous
corresponding period (PCP). At the time of the 1H FY24 results, IR indicated that 2H FY24 outlook was
skewed towards new contract wins. From February to April, IR has secured $8.4M in new business, including
six new customers, mainly in the Americas and the Collaborate portfolio. The renewal portfolio continues to
perform well contributing to a 98% net revenue retention.
As a result, un-audited Revenue for the 10 months to 30 April 2024 was $61.4m, an increase of 11% on the
PCP. In addition, second half cost increases have been contained to deliver an EBITDA of $13.9m, an
increase of 93% on the PCP.
Over May and June 2024, IR anticipates making further progress on executing its solid pipeline of new, new
to existing and contract renewal opportunities.
The Company now anticipates that FY24 TCV, Revenue and EBITDA will materially exceed the FY23 results.
Due to the complex nature and timing of ongoing contract negotiations, which includes both renewals and
potential large new customer contracts, the following guidance range is provided in the table below.
(A$m)
Total contract value
Revenue
EBITDA
30 June 2024
(Guidance)
30 June 2023
(Actual)
% change
75.0 - 84.0
76.0 - 85.0
18.0 - 25.0
68.5
69.8
12.1
9% - 23%
9% - 22%
49% - 107%
1 All references to Revenue and EBITDA are on a statutory reported basis.
1
Commenting on the market update, CEO, John Ruthven said: “We are pleased with our YTD performance
and field execution, particularly in securing several key new Collaborate customer wins. The changes we
have made to our sales leadership team and go-to-market approach over the last 12-18 months are starting
to bear fruit. As we progress through May and June, we anticipate a strong finish to the financial year.”
By Authority of the Board.
Will Witherow
Company Secretary
Integrated Research Limited
ABN: 76 003 588 449
- ends About Integrated Research Limited (ASX: IRI). Integrated Research (IR) is the leading global provider of user
experience and performance management solutions for payment transactions and collaborative systems. We create value
through our real-time, scalable & extensible hybrid cloud platform and our deep domain knowledge to optimize operations
of mission critical systems and improve user experience through intelligent and actionable insights. We enable many of the
world’s largest organizations to simplify complexity and provide visibility over systems that millions of people can’t live
without – systems that allow them to transact and collaborate. For further information on IR, visit www.ir.com.
2
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