IRIS Reports 18% Sequential Growth in Total Revenue for Q2FY26, Gears up for Growth with Stronger Balance Sheet

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 30^th 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

 

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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.