Further Auxilium® sales & ARR beyond 2026 target

Pennant International Group plc (AIM:PEN), the systems support software and training solutions company, is pleased to announce further commercial progress from its strategic partnership with Siemens Digital Industries Software, together with continued growth in Annual Recurring Revenue ("ARR") from its Auxilium software suite.

The Group has secured a series of new Auxilium® software contracts with end users in the US defence sector through its Siemens channel partnership to a major US defence end user.

The contracts which have now been executed are expected to generate aggregate recurring revenue in excess of US$300,000 per annum.

As a result, the Group's Annualised Recurring Revenue ("ARR") has increased to approximately £3.1 million, exceeding the £3.0 million ARR target for the end of 2026 set out in the Group's January 2026 trading update.

The contract awards represent a further expansion of Pennant's presence within the US defence market and provides additional validation of the Group's strategy to grow high-margin, recurring software revenues through the adoption of its Auxilium® platform.

Auxilium® is Pennant's integrated Product Support, enabling organisations to establish a trusted digital thread across engineering, logistics, maintenance, training and operational data. By providing authoritative information, connected workflows and enhanced decision support, Auxilium® helps defence and complex asset operators improve readiness, increase efficiency and reduce whole-life costs.

The defence sector continues to place greater emphasis on data-driven readiness, interoperability and lifecycle optimisation. Auxilium® has been developed specifically to address these requirements, allowing organisations to connect critical support information and make better-informed decisions across the product lifecycle.

Phil Walker, Chief Executive Officer of Pennant, commented:

"We are delighted to have secured these additional Auxilium® contracts through our partnership with Siemens.

“These awards further validate both the capability of our technology and the increasing demand for modern digital support solutions that enable organisations to improve readiness through trusted data and connected workflows.

"Importantly, these wins increase Group ARR to approximately £3.1 million, taking us beyond the target we established for the end of 2026 and demonstrating continued momentum in the adoption of Auxilium®.

"Across the defence sector, there is growing recognition that readiness depends upon trusted data, connected workflows and the ability to make better decisions faster. Auxilium® has been developed specifically to address these challenges, providing a practical solution that organisations can deploy today. We remain confident in the significant long-term growth opportunity for the platform."