Iress Full Year 2024 Earnings: Exceeds EPS Forecasts, Falls Short on Revenue

February 25, 2025 01:30 PM AEDT | By Team Kalkine Media

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Iress Full Year 2024 Earnings: Exceeds EPS Forecasts, Falls Short on Revenue — Image source: Shutterstock

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Highlights

Net income shows significant recovery from previous fiscal year.

Revenue misses expectations, but earnings per share surpass estimates.

Future revenue growth may lag behind Australian software industry average.

Iress Limited (ASX:IRE) has released its full-year results for 2024, revealing noteworthy improvements along with some challenges. The company reported a revenue of AU$604.6 million, reflecting a 3.4% decline from the previous fiscal year. However, this is juxtaposed against a remarkable recovery in net income, which amounted to AU$88.7 million, up from a substantial loss of AU$137.5 million in FY 2023.

The profit margin climbed to 15%, a significant turnaround from the net loss recorded last year. Additionally, earnings per share (EPS) rose to AU$0.48, contrasting with a previous EPS loss of AU$0.76. This recovery position in earnings has exceeded analyst expectations by 25%, although revenue came in 7.8% below the projected figures.

Looking ahead, market forecasts suggest that Iress's revenue will remain relatively flat over the next three years, in comparison to an anticipated 16% growth in the broader Australian software industry. This projection poses a potential challenge for Iress in keeping pace with industry trends.

Recently, Iress's shares have experienced a 19% decline in the market. Nevertheless, a deeper analysis of their recent performance and key valuation criteria suggests that there might be an underlying potential. This evaluation could position Iress as an intriguing consideration for those tracking the software industry.

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