Trading Update and Notice of Results

Aptitude (LSE:APTD), a market-leading provider of finance transformation software solutions, specialising in fully autonomous finance, today provides an update on trading for the six month period ended 30 June 2025 ('H1 2025').

Annual Recurring Revenue1 (ARR) grew by 3% year-on-year to £49.8 million (H1 2024: £48.6 million2), driven by double digit AI Autonomous Finance growth. Within this, Fynapse momentum has continued, highlighted by four key wins in H1 2025 with a combined total contract value of £7.4 million: a leading Australian payments provider, a global mobile parking platform provider, a major U.S. health insurer, and a KPMG-managed services client. The global mobile parking platform provider went live with Fynapse in just six weeks, a strong proof point that the platform offers organisations a fast, cost-effective path to finance transformation.

The year-on-year ARR growth came despite expected churn from legacy products and clients. This churn has been more than offset by new customer wins and expansions. Churn is being actively addressed through significant investment in account management which is driving improved customer experience. The Group remains confident that churn will reduce from 2026 onwards.

Macroeconomic uncertainty has led to the deferral of some notable new opportunities. The qualified pipeline of new business has grown positively during the period and there are some significant new contracts due to be concluded in the coming few months. Notably, 70% of the 2025 and 2026 pipeline is now connected to partners, reflecting strong alignment with the Group's partner-first strategy. Partners continue to see the value in scaling with the Group's software solutions, and it is on track to deliver its target of 80% partner-sourced ARR by 2027.

The Group expects H1 2025 operating profit to show double digit growth on H1 2024, driven by an improving revenue mix and the benefits of cost reductions as part of the on-going re-organisation to a SaaS business model. These improvements span across all major functions, including services, product, engineering, go-to-market and aligning resources to support scalable, higher margin SaaS growth.

Accordingly, with the deferral of some new opportunities and the significant change in GBP to USD exchange rate impacting reported revenues, Aptitude's revenues for FY 2025 are now expected to be broadly in line with the Board's expectations. As a result of the re-organisation of the business, including the benefits of cost reductions, the Board remains confident that the Group will meet its current profit expectations for FY 2025.

The Group remains financially robust, with cash as at 30 June 2025 of £23.7 million (30 June 2024: £24.4 million), following the return of £6.3 million of funds to shareholders via the share buyback programme to 30 June 2025 (including £2.3 million returned to shareholders in H1 2025), and net cash3 of £17.1 million (30 June 2024: £16.6 million).

Alex Curran, CEO of Aptitude, commented:

"We've made solid progress in the first half as our SaaS and partner-first strategy continues to take hold, improving the quality of our revenues and margins. While the timing of closing of some deals has moved due to external factors, our growing pipeline, increasing partner engagement and clear strategic focus positions us well going forward."

Notice of Results

Aptitude anticipates issuing its Interim Results for the six months ended 30 June 2025 on Wednesday 6th August 2025.

A virtual presentation for analysts will take place on the day. Analysts wishing to attend the webinar should contact aptitude@almastrategic.com to register.

The person responsible for releasing this announcement is Alex Curran, Chief Executive Officer.

Caroline Forde / Hilary Buchanan / Will Ellis Hancock