IODM Lands $600K UK University Deal, Boosting Revenue by 23%
IODM Limited has secured a significant commercial agreement with Convera to provide its Connect platform to a major UK university, expected to add $600,000 annually from April 2026.
- IODM to supply Connect platform to a top UK university with 11,000+ international students
- Annual revenue boost of approximately $600,000 starting April 2026
- Agreement spans an initial three-year term with ongoing platform development
- Revenue uplift represents 23% increase on FY25 audited revenue
- IODM now has 16 universities onboarded and 4 in the onboarding pipeline
A Major Win in the UK Education Market
IODM Limited (ASX, IOD) has announced a material revenue event through its commercial revenue share agreement with Convera, marking a significant milestone in its expansion within the UK education sector. The company will provide its cloud-based accounts receivable platform, IODM Connect, to one of the largest universities in the UK, which hosts over 11,000 international students. This partnership is expected to generate approximately $600,000 in annual revenue once fully implemented.
Integration and Revenue Impact
The onboarding process has already begun, although it involves substantial development work to tailor the platform to the university’s needs. The agreement, which has an initial term of three years, will commence revenue contributions from April 2026, aligning with the start of the university’s next tuition cycle. This new revenue stream represents a 23% increase on IODM’s FY25 audited revenue of $2.6 million and a 55% uplift on its reported UK revenue of $1.1 million.
Strategic Growth and Market Positioning
IODM’s CEO, Mark Reilly, highlighted the significance of this deal as a testament to the effectiveness of the IODM Connect platform in the UK education market. With sixteen universities already onboarded and four more in the pipeline, the company is positioning itself as a key player in digital accounts receivable solutions for educational institutions. The partnership with Convera also opens doors for further expansion across the UK and North America, particularly through collaborations with payments partners.
Looking Ahead
While the initial $600,000 revenue run rate is promising, IODM anticipates organic growth beyond this figure, consistent with its historical performance. The company’s cloud-based platform offers a comprehensive solution that integrates seamlessly with existing accounting systems, enhancing efficiency and reducing bad debt risks for its clients. As the integration progresses, investors will be watching closely to see how quickly the revenue materialises and whether further contracts with other large institutions follow.
Bottom Line?
IODM’s UK university deal signals robust growth potential, but successful platform integration will be key to unlocking full revenue benefits.
Questions in the middle?
- How smoothly will the platform integration proceed and meet the April 2026 revenue start?
- What is the potential for expanding this model to other large universities in the UK and beyond?
- How will IODM manage the development workload while maintaining service quality for existing clients?
