Aptitude Regulatory News (APTD)

28 April 2022

APTITUDE SOFTWARE GROUP plc

('Aptitude Software' or 'Group')

AGM Statement

Summary of key points:

· New business wins across the Groups' product suite in all regions

· Strategic partnership with the M&A practice of one of the Big-4 accountancy firms

· Multi-year eSuite contract win with global broadcaster

· Board confident that financial expectations for 2022 will be achieved

AGM Statement

Ivan Martin, Chairman of Aptitude Software Group plc (the "Group"), provides the following trading update in advance of the Annual General Meeting to be held at 9.00 a.m. today.

The Board is pleased to confirm that Aptitude Software continues to make good strategic and operational progress, securing new business wins across the Groups' product suite in all regions in the opening months of the year.

A further highlight has been the continued development of our high-quality partner network with Aptitude Software selected to deliver finance automation to a Big-4 accountancy firm's mergers and acquisitions practice enabling them to accelerate the post-acquisition integration of their clients' finance functions. The Group has also progressed against its roadmap for the wider market roll out of the recently launched Fynapse offering and we have seen encouraging evidence of an improving pipeline as the level of interest increases in this next generation digital finance platform.

Delivering on the roll-out of Fynapse

Fynapse provides high performing and differentiated finance digitisation capability to a market in which the Group already has outstanding credentials with the successful Aptitude Accounting Hub. The Group expects to see an acceleration in the growth of both Annual Recurring Revenue and overall margin as the benefits of Fynapse and its modern architecture are realised.

In addition, the platform has been designed to differentiate the Aptitude Software partner programme, providing partners with the capability of co-creating specialised functionality allowing unique propositions to be marketed to the partners' clients or new industry sectors, powered by Fynapse. The potential of these new income streams for our partners is expected to drive additional demand for Fynapse. It is an important milestone that the Group are already engaged with one of the Big-4 accountancy practices as the first charter partner for Fynapse.

Aptitude Software is already working closely with a major global telecoms client as it looks to take advantage of this new platform. Following the launch of Fynapse the demand for solution demonstrations has been strong, across both our traditional target industries and partners, as well as new markets and channels. Feedback has been overwhelmingly positive and reflects the Group's confidence in closing new business opportunities and creating new channels.

Multi-year eSuite contract win with global broadcaster

One of the highlights of our new business success in the current year is a landmark win for eSuite with a leading global broadcaster and media content owner which has the potential for considerable scale once the offering is launched in 2023.

Through the acquisition of MPP Global, the business has accelerated the creation of a differentiated end-to-end subscription management solution to meet the fast-growing needs of the subscription economy. eSuite's ability to manage both physical and digital subscriptions means it is well positioned to expand Aptitude Software's existing revenue management offering and is expected to provide further opportunities for growth within Aptitude Software's existing customer base whilst also supporting greater new business opportunities for the combined offering.

Integration of the two platforms is progressing well and is expected to be completed, on track, during the second half of 2022. There is already encouraging interest in both the eSuite client base and wider market for this end-to-end solution.

Outlook

We are pleased with the progress achieved in the opening months of the year and the Board is confident that its financial expectations for 2022 will be achieved. We sit at the heart of two significant strategic growth drivers of finance digitisation and subscription management, providing the Group with long term and non-cyclical growth opportunities. Through our expanding portfolio of products, worldwide presence and by leveraging our increasingly mature partner network we see a considerable long-term opportunity ahead and are confident that the investments we are making into our product offerings will deliver scalable, profitable growth in the future.

Contacts

Aptitude Software Group plc

Ivan Martin, Chairman 020-3687-3200

Jeremy Suddards, Chief Executive Officer

Philip Wood, Deputy Chief Executive Officer and Chief Financial Officer

Alma PR

Caroline Forde, Sam Modlin 020-3405-0205

About Aptitude Software

Aptitude Software helps complex organizations automate and transform their financial business models. Our core areas of focus are the accelerating digitization of the finance function, and the global push to deploy and manage subscription offerings. Aptitude Software also continues to support clients through complex regulations which often form the catalyst for broader transformation.

Finance digitization allows finance leaders to improve the speed of their function, enhance the quality of its outcomes, and do so at a lower cost. Aptitude Software's products draw data from complex, often siloed systems, automate its processing through complex accounting calculations, and create a unified view of finance. Businesses are left with a transparent view of their data, delivered with extreme performance and at a lower cost of ownership.

Subscription management is an increasingly critical driver for novel and traditional businesses alike, who need to launch new offerings frequently, in ways which appeal to their customers and allow them to outperform their peers. Aptitude Software's products power the acquisition, monetization, and retention of subscribers straight through to revenue. With Aptitude Software, businesses can take new subscriptions to market quickly, retain their high-value recurring revenue, and stay one step ahead of the competition.

Our global client base includes some of the world's largest companies, typically organisations with complex business models, large volumes of data, and numerous internal systems. Aptitude Software is headquartered in London, has a strong and growing North American presence, and is powered by Innovation Centres in Poland and the North West of England. Sales, support and implementation services are provided from offices in the United States, the United Kingdom, Canada, and Singapore.  

www.aptitudesoftware.com