IP Group Plc (IPZYF) Q2 2025 Earnings Call Transcript

Operator

Good morning, ladies and gentlemen, and welcome to the IP Group Plc Half Year Results Investor Presentation. [Operator Instructions]

The company may not be in a position to answer every question it receives during the meeting itself. However, the company can review all questions submitted today and we’ll publish their responses where it’s appropriate to do so on the Investor Meet Company platform. Before we begin, as usual, we would just like to submit the following poll. And if you’d give that your kind attention, I’m sure the company would be most grateful. And I would now like to hand you over to the executive management team from IP Group Plc. Greg, good morning, sir.

Gregory Smith
CEO & Executive Director

Good morning, and thank you to Jake. And as always, thanks to everyone at Investor Meet Company for again hosting our half year results webinar. I was reflecting — I was reading my FT on Saturday, and I almost choked my yogurt, I guess, these days, I’ve sort of had to move on from corn flakes for longevity reasons. But I saw the headline, the U.S. market for IPOs has exploded back to life with the busiest week for 4 years, and that’s not something I’ve seen for a few years, I guess, maybe obviously based on the cycle.

But it was an interesting reflection that the public markets have had quite a positive impact on the portfolio in more ways than one so far in 2025. And hopefully, there is more opportunity that arises for us in future as a