Trading Update and Notice of Results

Aptitude (LSE: APTD), a market-leading provider of AI-native Finance ERP software, today provides an update on trading for the six month period ended 30 June 2026 ('H1 2026').

The continued improvement in the quality of revenues combined with cost efficiencies driven by the re-organisation of the Group have led to an improved year-on-year operating profit in H1 2026, reflecting the positive impact of the Group's ongoing shift toward a higher-margin, software-led and partner-led model.

Annual Recurring Revenue (ARR)1 for the Group's core AI Autonomous Finance segment grew 12% to £20.1 million (H1 2025: £17.9 million2 3), underscoring the continued shift towards Fynapse and its core Finance ERP strategy as set out in the full year Group results in April. Fynapse delivered strong new business activity in the period with ARR relating to Fynapse increasing by approximately 85%.

Notable new business wins announced in the period include a $5.54 million (£4.2 million) three-year contract with a Canadian financial services group managing over C$100 billion in assets - the largest new logo win in Fynapse's history to date, sourced through a Big Four advisory partner. The Group also secured two further Fynapse wins, with a combined total contract value of £1 million: a leading UK telecommunications provider serving over 5.5 million customers; and a global insurance brokerage and financial services firm with over $5 billion in revenue. These wins reflect continued cross-sector traction as organisations prioritise automation, control and real-time insight, while ensuring the structured, finance-grade data and governed processes required to support reliable AI-driven outcomes.

Strategic progress in Fynapse and AI Autonomous Finance was offset at Group level by expected churn within the legacy portfolio. As a result, ARR as at 30 June 2026 was £49.9 million (H1 2025: £50.8 million2).

During the period, the Group substantially completed the rationalisation of its wider product lines and team structures, concentrating its investment on Fynapse and the Finance ERP opportunity.

The Group has strengthened its Account Management function with additional resources, underpinning the health of the remaining product portfolio. This, together with an improved upgrade path to the Group's core AI Autonomous Finance products is expected to reduce revenue churn in H2 2026 compared with H1 2026. During H1, £5.8 million of ARR from the 31 December 2025 base was renewed under multi-year contracts, delivering a 6% net ARR increase and £19.2 million of total contract value. Notable renewals included a five-year Aptitude Accounting Hub renewal with a global payments technology company offering prepaid cards and transaction processing; a three-year AREV renewal with a global enterprise software company; and an expanded AREV commitment from a global public safety technology company reflecting growth in platform usage.

Pipeline has continued to grow significantly both in terms of volume and quality during the period. Fynapse now represents 93% of total pipeline, up from 80% in July 2025. The Partner-influenced new business pipeline has also strengthened to 92%, from 70% a year ago, reflecting continued alignment with the Group's partner-led strategy.

The Group remains financially robust, with cash as at 30 June 2026 of £21.1 million (30 June 2025: £23.7 million) and net cash4 of £15.7 million (30 June 2025: £17.1 million). This year-on-year cash movement has been driven by an increase in non-underlying costs (relating to the investment in the Group re-organisation) as well as the return of £2.6 million to shareholders by way of a share buyback programme during the Period, which was suspended at the time the Strategic Review was announced.

Alex Curran, CEO of Aptitude, commented:

"We are encouraged by the progress made in H1, with Fynapse securing further new business, including our largest new logo win to date, alongside a solid set of multi-year renewals across the existing client base. As we concentrate the business behind Fynapse and the Finance ERP opportunity, we are seeing continued evidence of market demand for finance transformation solutions that simplify complex finance environments and provide the trusted data foundation needed for AI adoption."

The Strategic Review, including a Formal Sale Process under the Takeover Code, as announced on 8 April 2026, is progressing in line with the Board's expectations.

Aptitude anticipates issuing its Interim Results for the six months ended 30 June 2026 in early September 2026.