Iress has reported a 43% rise in adjusted EBITDA from its UK division for the year to 31 December 2025, with renewed demand for its mortgage and protection sourcing platforms playing a central role in performance.
The UK business delivered adjusted EBITDA of £12.0 million, up from £8.4 million in FY24. Revenue increased by 2.0% year on year, while operating expenses fell 5.2%, reflecting continued cost discipline alongside targeted technology investment.
While the group’s wider simplification programme has reshaped Iress into a more focused Wealth and Trading & Market Data software business, the UK Sourcing arm remains a core component of its adviser-facing proposition, supporting mortgage, protection and retirement advice across the market.
Andrew Russell, group chief executive and managing director, said: “Since commencing as Iress’ Group CEO late last year, I have been impressed with the Company’s strong foundations and deep client relationships that provide an excellent platform to build a clear, differentiated, world-class fintech.
“In FY25, Iress delivered strong financial results ahead of guidance, reflecting a year of disciplined execution and focused delivery.
“We have successfully simplified the Company into a focused Wealth and Trading & Market Data software business. In FY25 we saw the positive impact of this simplification with improved performance across all business units, reflecting ongoing cost discipline and a sharper operational focus.
“Looking ahead, I am confident we will continue this momentum, supported by our accelerated business efficiency program which has already delivered around 60% of an expected $30m in cost savings (by the end of FY26).
“We are sharpening our client-first execution through targeted reinvestment to modernise our technology stacks, embed AI across our core platforms and align pricing more closely with the value we create for clients.
“Our ambition is clear: to build a durable, high-quality software business, achieved through disciplined sequencing, execution and capital allocation.”
SOURCING INVESTMENT DRIVES PLATFORM MOMENTUM
Within the UK Sourcing division, Iress said it had strengthened its position across mortgage and protection advice through sustained investment in its technology, including enhancements to Xplan Mortgage and The Exchange.
Alistair Morgan, chief executive for the UK, said: “Our UK Sourcing business powers some of the market’s most widely used and valued mortgage, protection and retirement sourcing platforms, and this year we have further strengthened that position through sustained investment in our technology.
“Over the past 12 months, we’ve delivered market-leading capabilities at pace and in direct response to adviser and market needs.
“We’ve also seen renewed demand for our mortgage and protection platform, Xplan Mortgage, and look forward to building on that momentum through continued investment.”
Technology uplifts during the year included the addition of AI functionality and a refreshed user interface across Sourcing systems, aimed at improving efficiency for advisers and brokers.
On The Exchange platform, new features introduced included the Automatic Underwriting Indicator, designed to give advisers earlier visibility of potential lending outcomes, expanded ex-smoker pricing backed by nine providers, and fully online annuity applications with Aviva.
The business reported a combined 50 point increase in Net Promoter Score across Wealth and Sourcing, with improvements in adviser engagement linked to platform enhancements and service model changes.
