Earnings season is continuing on Monday with another large group of ASX shares releasing their results.

Two ASX 300 shares with $1.3 billion+ market capitalisations that have crashed deep into the red following the release of their results are listed below. Here's what they reported:

Iress Ltd (ASX: IRE)

The Iress share price is down 18% to $7.36. Investors have been selling the financial technology company's shares today after it released its full year results.

Iress reported a 3.4% decline in revenue to $604.6 million and a net profit after tax before amortisation (NPATA) of $30.1 million. While the latter is up 192% on the prior corresponding period, the market appears to have been expecting even stronger growth.

Not even its FY 2025 guidance has been able to keep this ASX 300 share from sinking today. Management is guiding to NPATA growth of 80% to 106% for the year ahead. Though, adjusted EBITDA is only expected to lift 6% to 12%.

Commenting on its outlook, the company said:

In 2025, Iress will continue to invest for growth through focused programs of product innovation in its core businesses as well as accelerating initiatives to capture new revenue streams in data & AI products through expanded partnerships, underpinned by a strong focus on customer experience.

Perenti Ltd (ASX: PRN)

The Perenti share price is down 18% to $1.12. This follows the release of the diversified mining services company's half year results.

The ASX 300 share reported a 6% increase in revenue to a record of $1,730 million and a 3% lift in EBIT(A) to $155 million. Things weren't quite as positive for its earnings on a statutory basis, with net profit falling to $64 million.

Also potentially catching the eye of investors was its free cash flow generation. Perenti recorded negative free cash flow of $11 million for the half due to late debtors.

Looking ahead, management has reaffirmed its guidance for FY 2025. It continues to expect revenue in the range of $3.4 billion to $3.6 billion and EBIT(A) of $325 million to $345 million. Investors may believe that the bottom end of this guidance range is the best the ASX 300 share will be able to achieve now.

CEO Mark Norwell said:

Perenti will continue to focus on delivery of value and certainty for all stakeholders. To clearly demonstrate this commitment, we reaffirm our guidance for FY25. We expect to deliver revenue of between $3.4 billion and $3.6 billion; EBIT(A) of $325 million to $345 million; leverage of between 0.6x to 0.7x; net capital expenditure of ~$330 million; and free cash flow greater than $150 million."