S&P/ASX 200 Index (ASX: XJO) tech stock Iress Ltd (ASX: IRE) is under heavy selling pressure today.
Shares in the financial technology company closed Friday trading for $9.40. In earlier trade, shares plunged to $8.54, down 9.2%. At the time of writing on Monday morning, shares are changing hands for $8.75 apiece, down 6.9%.
For some context, the ASX 200 is up 0.4% at this same time.
Here's what has investors favouring their sell buttons today.
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ASX 200 tech stock slumps on declining earnings
The Iress share price is under pressure following the release of the company's first half 2025 (H1 2025) results.
On a headline basis, Iress reported $299.5 million in revenue for the six months to 30 June, down 3.1% from H1 2024.
While operating costs of $235.1 million were down 2.9% year on year, adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) still declined by 3.9% to $64.4 million.
Statutory net profit after tax (NPAT) was in line with the prior corresponding half year at $17.3 million.
Although not reflected by the tumbling Iress share price today, following the completion of its transformation program and asset sales, the ASX 200 tech stock said it now considers its continuing business to more accurately reflect the true underlying performance of its core businesses.
On that front, revenue from its continuing business was up 6.8% year on year to $249.4 million. And adjusted EBITDA of $60.2 million for the half year was up 8.7% from H1 2024.
Pleasingly for passive income investors, the board declared an interim 2025 dividend of 11.0 cents per share, 50% franked. The last time Iress paid an interim dividend was back in September 2022.
What did management say?
Commenting on the results that have yet to lift the ASX 200 tech stock today, Iress CEO Marcus Price said:
Iress' continuing business has delivered a strong performance in the first half, underpinned by solid revenue growth in our Global Trading & Market Data business and continuing positive momentum in our UK wealth business. These results reflect the strength of our core businesses of trading and wealth.
Turning to the balance sheet, Price added:
We have further strengthened our balance sheet following the sale of our Superannuation business, and the planned divestment of QuantHouse remains on track for completion in the second half.
What's ahead for the ASX 200 tech stock?
Looking to what could impact the ASX 200 tech stock in the months ahead, Iress reaffirmed its full-year 2025 guidance of adjusted EBITDA in the range of $127 million to $135 million, and full-year underlying profit after tax (UPAT) in the range of $65 million to $73 million.
With today's intraday losses factored in, the Iress share price is down 5.7% in 2025.
