IPH Limited reported a 1.7% increase in underlying net profit after tax and amortization (NPATA) to AUD 122.7 million in its full-year 2026 results. The company's revenue growth remained modest at 0.4% to AUD 712.8 million. Despite improved profitability metrics and stronger cash generation, shares fell 7.82% to $3.87.
The company's transformation into a globally diversified IP services platform has led to 58% of earnings being generated outside Australia and New Zealand. However, the results also highlighted ongoing challenges in the ANZ market and currency headwinds that masked stronger underlying operational performance.
Financial Highlights
IPH delivered incremental improvement across most profitability measures while maintaining strong cash generation. The company reported underlying EBITDA of AUD 205.9 million, down 0.6% on a reported basis but up 2.9% on a like-for-like basis after adjusting for currency movements and acquisitions.
Regional Performance
Canada has emerged as IPH's largest profit contributor, accounting for 37% of group EBITDA and 44% of total revenue. The ANZ segment now represents 42% of EBITDA and 39% of revenue, while Asia contributes 21% of EBITDA and 17% of revenue.
The Canadian segment delivered a standout performance, with like-for-like revenue up 5.8% and underlying EBITDA up 11.8%. In contrast, the Australia and New Zealand segment faced continued pressure, with like-for-like revenue down 4.2% and underlying EBITDA down 7.2%.
Strategic Framework
CEO Tony O'Malley outlined a strategic framework centered on three enterprise priorities: Accelerate Sustainable Growth, Simplify and Scale the Platform, and Build Future Capability. O'Malley characterized IPH's fundamentals as strong, citing deep technical expertise and a global presence.
