Forum Topics Integrated Research Ltd General Discussion
dlj555
a week ago

Director buys $100k today. That's more like it!

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Samudabamu
a week ago

Buy the dip!

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umop3pisdn
2 weeks ago

Two Directors purchasing today (23/02/2021)

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dlj555
2 weeks ago

Yes but $10k and $20k. Hardly a vote of confidence. It was at around the $2.50’s level so now the share price is well under that entry point we SHOULD see further investment by the same two directors (they hardly own any shares still) and there SHOULD be other directors backing the truck up at these levels. If they don’t it screams lack of confidence or troubles ahead maybe. I would like to see some serious investment from all directors, not just two spending their lunch money.

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doktorspleen
2 weeks ago

I've held them in the past, and I agree, they are an amazingly run business. Their fundamentals were great. Their profitability was great. The numbers were fantastic. I think their business model has been disrupted by the current scenario.

Bare with me, this is all from memory, so may be rife with inaccuracies. My memory of their core product set is that it consolidates communication in big companies. So the cisco phone systems speak to oracle, and it all speaks to the standard and IP telephony protocols etc etc. This is quite a specific niche, it's also why their clients are all major multinationals - big companies that have made acquisitions and need to integrate systems so everyone can talk to each other. 

I think there's been a step change in the world. Covid came along, and rather than maintaining old systems everyone needed something rapid and flexible that worked with the new WFH/Cafes/Office/Wherever, hence the en-masse pivot to Zoom and Teams. They needed something that "just worked" whether you were at your desk, or on your phone in your garden.

But now that this is the new normal, I'm not sure the old ways come back... If we're all linked by a virtual account, is there any reason to maintain physical phone lines anymore? 

I do feel like I may have oversimplified their business model, and would love to hear some counterpoints, I haven't looked at them for a while, I sold out of my position in May 20. 

 

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Strawman
2 weeks ago

I think there's definitely some truth to that @doktorspleen At the same time, IRI has continuously invested heavily into R&D and despite setbacks have, on average, grown the business very well over a very long time. Old offerings lose relevance, but i think IRI has shown it can adapt (and generally thrive). The move to subscription is a case in point, even though that has drawbacks during the transition, it should be a good move longer term. Not a lot of growth is factored into the price at present, so i think any hint of a turnaround could see market multiples expand. I'm hopeful the true economics of the business will shine through in the years ahead, and that on-balance there are good industry drivers. Then again, if there's any sign of weakness there could still be decent losses from here. The past is no guarantee of the future, and it really could be a more structural issue this time around. I agree that's the biggest risk.

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dlj555
2 weeks ago

Now that IRI is in the $2.20's where I thought I would would buy back in after selling out at mid $2.60's,  I'm not confident this is the bottom. I'm no chartist but if anyone reads the tea leaves well can they confirm $1.80's might be a support level?

 

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Pmonkey
2 weeks ago

I'm sorry to have to agree. I've been disappointed with their results and the market is responding accordingly. Still, this is a company with a long track record of positive results. I do believe they will turn the business around. Just depends on how long it will take. Your guess is as good as mine.

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