Ann: FY24 Half Year Results Presentation, page-17

The reason companies bought IRI was to monitor their own UC infrastructure (servers, network, phones, handsets etc) to make sure that they could deliver high quality UC and diagnose and fix any problems themselves. When these companies started using Zoom, Teams, etc for UC, need for their own UC infrastructure disappears. If you are using Teams or Zoom for all your UC, I don't think there is much need for IRI to monitor the cloud UC services (I'm not even sure if it CAN monitor the cloud services). If Zoom is playing up, can you use IRI products to find out what the problem is, and then ask Zoom to fix it? I don't think so (someone tell me if I wrong). So this is why I think current Collaborate customers are the ones still running legacy on-premise UC, and then eventually the majority of customer will go to cloud = no need for IRI.

This is why I think long-term IRI has a problem, unless Payments can grow.