Navi Mumbai, India – November 14, 2025 : IRIS Business Services Ltd., BSE (Scrip code: 540735) and NSE (Symbol: IRIS), a global RegTech company specializing in regulatory reporting and digital disclosure solutions, announced today its financial results for the Second Quarter (Q2FY26) and Half Year (H1FY26) ended 30th September 2025.
IRIS reported 18% QoQ growth in total revenue while EBITDA stood at ₹269 lakhs, an increase of 86% QoQ. On a six-month basis, total revenue grew at 10% while EBITDA declined in line with higher spends in sales and marketing as the company started scaling its SaaS business. The second quarter results also saw an exceptional income of ₹13,598 lakhs emanating out of the sale of the TaxTech business to the global US headquartered TaxTech major, Sovos.
Commenting on the
Q2FY26 results, K. Balachandran, Co-Founder and CEO, IRIS Business Services
Ltd., said:
“We are focused on
growing the Annual Recurring Revenue (ARR) of our flagship product, IRIS
Carbon. IRIS Carbon net ARR grew 14% in the first six months of FY26 (over
March 2025 ARR) and we expect the pace to further pick up as our investments in
sales and marketing start bearing fruit. The SupTech business continues to do
well with a couple of prestigious new logo wins in the first half and
additional business from existing clients. With additional liquidity available
from the TaxTech sale, our balance sheet strength now allows us to up
investments in product innovation and sales expansion.”
Key Performance
Highlights:
- Revenue from SupTech witnessed a growth of
13% YoY in H1FY26 and higher profitability, led by large-scale regulatory
digital-reporting implementations across Africa and the Middle East.
- The company secured a contract from the
General Tax Authority, Qatar, further reinforcing IRIS’s position as a
leading global provider of SupTech and RegTech solutions and expanding its
footprint in the Middle East. Significantly, this marks IRIS’s first
SupTech engagement with a tax authority, making it an important milestone
in the company’s global journey.
- Cash, Cash Equivalents & Investments
stood at ₹16,966 lakhs, largely from divestment proceeds of the Company’s
TaxTech (GST ASP) business.
Deepta Rangarajan, Co-Founder and Director, IRIS Business Services Ltd., said:
“This quarter marks
another step forward in our transformation journey. We are happy that IRIS
Carbon’s Disclosure Management offering is well received by the market,
enabling us to deepen our relationship with CFO’s office while enhancing the
business value. We are working on expanding our partnerships in the RegTech
space while remaining focused on building the leadership layer to take us to the
next growth trajectory.”
About IRIS Business Services Limited
IRIS Business Services
Limited is a Global RegTech company listed on the BSE (Scrip code: 540735) and
the NSE (Symbol: IRIS). The IRIS SupTech suite is leveraged by 30+ regulators
worldwide including central banks, stock exchanges/ securities commissions and
business registries to simplify and streamline their supervisory operations.
IRIS is also a leading provider of regulatory reporting software solutions to
enterprises and financial institutions, serving marquee customers across the
world. For more information, please visit www.irisbusiness.com
For further information,
please contact:
|
IRIS Business Services
Limited Santoshkumar Sharma Email: cs@irisbusiness.com |
Ernst & Young LLP Asha Gupta Email: asha.gupta@in.ey.com |
Ernst & Young LLP Siddesh Chawan Email: Siddesh.chawan@in.ey.com |
Safe harbor statement
Statements in this
document relating to future status, events, or circumstances, including but not
limited to statements about plans and objectives, the progress and results of
research and development, potential project characteristics, project potential
and target dates for project related issues are forward-looking statements
based on estimates and the anticipated effects of future events on current and
developing circumstances. Such statements are subject to numerous risks and
uncertainties and are not necessarily predictive of future results. Actual
results may differ materially from those anticipated in the forward-looking
statements. The company assumes no obligation to update forward-looking statements
to reflect actual results changed assumptions or other factors.