The Integrated Research Limited (ASX: IRI) share price crumbled 13% this morning despite releasing a promising update to ASX investors.
Integrated Research or ‘IR’ describes itself as a global provider of proactive performance management software for critical technology infrastructure, payments and communication ecosystems.
The company has been operating since 1988 and now has over 250 employees across five countries with 1,000 organisations as clients in more than 60 countries – some of them being Fortune 500 businesses.
The ASX Update
In its update to the ASX and shareholders this morning, the technology company said that based on internal unaudited accounts it expects to report a profit between $21.2 million and $22 million, up 10% to 15% on the prior year.
Integrated Research said its licence shares are expected to be between $61.5 million and $63 million, up 17% to 20%, enabling revenue to hit at least $100 million. The company’s Payments product line, Prognosis for Payments, provides companies with real-time payments analytics across their network.
Integrated Research shares have enjoyed explosive growth since 2011, rising from just 27 cents to their current price around $3.
Indeed, while the market has discounted the shares today, its update was promising and showed growth – not a backwards step. At times like these, it pays to take your lead from people who know what they’re doing and not let the market be your master.
Integrated Research has proven time and again it has staying power in a technology landscape which is constantly evolving. It’s paid not to be bet against it.
If you can’t stand the headache or volatility of small-cap ASX shares like IRI, there’s likely to be plenty of long-term growth achieved by owning a small cap or mid-cap Australian shares or global shares ETF.
Disclosure: At the time of publishing, Owen Raszkiewicz does not have a financial interest in any company mentioned.