Integrated Research hits top end of guidance
Integrated Research, the global provider of user experience and performance management solutions for payment transactions and collaboration systems released an update on FY21 revenues and net profit after tax.
Following on from a June 21st guidance update which anticipated annual revenue to be in the range of $74.1-$79.1 million and annual profit after tax to be in the range of $4.1-$7.1 million, the company has now announced that annual revenue is likely to be around the top of the guidance range and annual profit after tax is likely to be slightly above the top end of the guidance range.
In addition, Net cash at 30 June 2021 was $5.5 million up from $4.7 million at 30 June 2020.
IR noted that there were a number of new contract signings and renewals closed toward the end of the reporting period which led to the stronger revenue and profit result. Further, unrealised exchange gains over June were a contributing factor to profit exceeding the guidance.
IR is also continuing a transformation with the launch of new cloud-based products to drive long-term growth and recurring subscription revenues. The company has recently added new customers with these new solutions including support for the Microsoft Teams and Zoom environments. Further growth in the customer base is expected in FY22.
Results are based on internal management accounts and subject to final audit.