Overview of Integrated Research's trading update and FY24 guidance

Integrated Research (ASX: $IRI) has provided a trading update for the 10 months ended 30 April 2024 and FY24 guidance. The company reported an 8% increase in Total Contract Value (TCV), an 11% increase in Revenue, and a significant 93% increase in EBITDA compared to the previous corresponding period (PCP). IR secured $8.4m in new business TCV in the second half of FY24, including six new customers, primarily in the Americas and the Collaborate product portfolio. The company anticipates that FY24 TCV, Revenue, and EBITDA will substantially exceed the FY23 results.

Executive commentary on the market update

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.

Summary of Integrated Research's trading update and outlook

Integrated Research (IR) has demonstrated strong performance in the year to date, with significant increases in TCV, Revenue, and EBITDA compared to the previous corresponding period. The company's success in securing new business TCV, including new customers in the Americas and the Collaborate product portfolio, has contributed to a solid pipeline leading into the 2024 financial year end. IR anticipates that FY24 TCV, Revenue, and EBITDA will materially exceed the FY23 results. The company's CEO, John Ruthven, expressed satisfaction with the performance and field execution, highlighting the positive impact of changes made to the sales leadership team and go-to-market approach. Integrated Research looks forward to a strong finish to the financial year, with further progress anticipated in executing its pipeline of opportunities.