REG - Aptitude Software - AGM Statement and Board Appointment

Aptitude SoftwareAnnouncement

Wed 07:00

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RNS Number : 2864K  Aptitude Software Group PLC  28 May 2025

28 May 2025

Aptitude Software Group plc

("Aptitude" or the "Group")

AGM Statement and Board Appointment

Aptitude, (LSE: APTD), a market-leading provider of finance transformation
software solutions, provides the following update in advance of the Annual
General Meeting to be held at 9:30 a.m. today.

Highlights

·   The Board remains confident that the Group's performance for 2025 will
be in line with expectations, despite continued economic uncertainty,
particularly in North America.

·     Three new enterprise wins year to date for Fynapse, Aptitude's
lead AI autonomous finance solution.

·     Organisational transformation to partner-led model now substantially
complete, providing the foundation to unlock the full value of the Fynapse
opportunity.

·      Continued cross-sell and up-sell successes, securing a number of
renewals with existing clients.

·      Appointment of Paula Dowdy as Non-Executive and Senior
Independent Director.

AGM Statement

The Group has made positive progress to date in H1 2025, providing confidence
in a successful performance in FY25, in line with the Board's expectations.
The major organisational transformation to reposition Aptitude as a scalable,
high-margin, SaaS-led, partner-first organisation is near completion.
Structural changes across product, go-to-market, and client experience
functions are now moving into execution and key global partners are engaged
and active. This is expected to result in an improving contribution to
pipeline and deal progression from partners and the Group remains focused on
delivering 80% partner sourced ARR by 2027.

Fynapse continues to gain momentum in the market, supported by new enterprise
wins, including a leading Australian payments provider, a global mobile
parking platform provider and a major U.S. health insurer. These wins
highlight Aptitude's expansion into the Tier 2 market and continued progress
with Aptitude Accounting Hub Fynapse migrations.

While the macro-economic environment continues to have some impact on
corporate decision making, particularly in North America, increasing partner
engagement is driving an improved Fynapse pipeline. This is supported by
continued renewals, cross-sell and up-sell successes with existing clients in
the period, leading to an expanded footprint within the installed base,
reinforcing the long-term opportunity for future Fynapse adoption.

Board Changes

The Board is pleased to announce the appointment of Paula Dowdy to the Board
as Non-Executive Director, Senior Independent Director, and Chair of the
Remuneration Committee, effective from the conclusion of today's AGM. Paula
has more than 35 years of international leadership experience across
technology, software, and services organisations. Paula brings a strong track
record of leading major organisational change programmes, scaling commercial
operations, and driving strong growth.  Previous experience includes senior
leadership roles at Cisco Systems, Inc. and Illumina, Inc and board positions
at AVEVA Group plc (March 2019 - March 2023), and SPT Labtech (March 2023 -
March 2025).  Paula currently serves on the board of Quantum-Si, Inc (NASDAQ
listed) and Sensio AS (private), and is based in the D.C. area, USA.

 

As previously announced, Barbara Moorhouse will step down from the Board
following the conclusion of this year's AGM. Barbara has served as a
Non-Executive Director since April 2017, and from March 2022, as Senior
Independent Director and Chair of the Remuneration Committee.

Ivan Martin, Chairman of Aptitude, commented: "On behalf of the Board, I would
like to extend my sincere thanks to Barbara for her insightful guidance, hard
work and long-standing support over the past eight years.

"I am delighted to welcome Paula to the Board. Her significant expertise in
SaaS, enterprise software, the U.S. market, and partner-led growth will be an
invaluable support to Aptitude as we scale in our key markets and continue to
execute against our ambition to be the leader in AI-powered finance
transformation."

 

Incoming Non-Executive and Senior Independent Director Paula Dowdy commented:
"I am incredibly excited to be joining the Board of Aptitude at what is a
significant time for the business. With Fynapse, the ability to not only
deliver value to customers but also drive organisational change for greater
success through its AI-powered finance platform offers huge potential for
businesses of any scale and in any industry. This opportunity, combined with
Aptitude's strong leadership, strategic partnerships, and clear commercial
strategy are attributes which attracted me to the business, and I'm eager to
work with the teams to drive execution and growth."

 

There is no other information regarding Paula Dowdy's appointment to be
disclosed under paragraph 6.4.8R of the UK Listing Rules.

 

 

For further information, please contact:

 Aptitude Software Group plc                                 020-3687-3200
 Alex Curran, Chief Executive Officer

 Ivan Martin, Chairman

 Canaccord Genuity Limited                                   020-7523-8000
 Simon Bridges / Andrew Potts

 Alma Strategic Communications
 Caroline Forde / Hilary Buchanan / Will Ellis Hancock       020-3405-0205

 

About Aptitude Software

Aptitude Software provides software solutions that deliver fully autonomous
finance to enable its clients to drive growth, efficiency and sustainability.
Fynapse is Aptitude's intelligent finance data management and accounting
platform designed to increase productivity and lower costs for finance teams
globally. Fynapse provides a single view of finance and business data,
unparalleled performance and automation, faster and better insights,
user-friendly functionality and market-leading total cost of ownership.

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the
Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication
of this announcement, this information is now considered to be in the public
domain.

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