Australia's Integrated Research hits nearly 8-month low on muted rev outlook

Integrated Research

23/12/2024 02:51

** Integrated Research  IRI.AX  plunges as much as 23.8% to
A$0.415; biggest intraday pct loss since July 2018
    ** Stock hits lowest since May 9
    ** Software firm expects rev of A$25 mln-A$29 mln ($15.6
mln-$18 mln) in H1 FY25 - a 34% y/y drop
    ** Attributes lower forecast to increased investment over
medium term to support new products, softer contract renewals in
H1
    ** More than 1.4 mln shares traded, ~8x the 30-day avg
    ** IRI up 23.6% YTD

($1 = A$1.5990)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))