Aptitude Software Group plc, a leading provider of finance transformation software solutions, has released a trading update for the six-month period ending 30 June 2024. The company's results for this period are in line with the Board's expectations, and it is confident about meeting market expectations for the full year 2024. The Annual Recurring Revenue (ARR) for H1 2024 stands at £50.8m, showing a 2% increase from H1 2023. The Software ARR has grown by 3%, reaching £46.7m, while the Assure ARR has decreased by 9% to £4.1m.

Aptitude's growing pipeline of Fynapse opportunities and increasing uptake from strategic partners support the Board's confidence in driving continued growth in the second half of the year and beyond. The company's adjusted operating profit for H1 2024 is expected to be in line with the result achieved in H1 2023, driven by a reduction in non-recurring implementation revenues as the company transitions toward a partner-led implementation model. Aptitude remains financially robust and continues to deliver enhanced returns to shareholders through its share buyback program.

CEO Alex Curran expressed satisfaction with the positive early progress, stating, "Market traction for Fynapse is growing, with wins secured during the period across new clients and our installed base, and the acceleration of our partner strategy is driving positive pipeline progression." The company anticipates issuing its Interim Results for the six months ended 30 June 2024 on Thursday 25 July 2024, with a virtual presentation for analysts scheduled for the same day at 11:00 a.m. (BST).

Aptitude Software Group plc's Fynapse solution, supported by key industry partners, positions the company well for future success. The company's innovative and cutting-edge Fynapse solution, along with a robust financial position and a growing base of recurring revenues, instills confidence in continued progress against its plan.