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

Reuters
2024-12-23

** Integrated Research 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;))

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