Shares in Aptitude Software Group PLC (LSE:APTD) fell 6% on Wednesday after the finance software firm said it would accelerate its transition to a partner-led delivery model - a move expected to dent short-term revenues.
The company reported a 12% increase in annual recurring revenue from its AI-focused autonomous finance unit and signed six major clients to its flagship Fynapse platform. However, overall revenue for 2024 fell 6% to £70 million, mainly due to a 26% drop in non-recurring income.
Management confirmed that shifting implementation services to partners such as Microsoft, Deloitte and EY would impact 2025 sales and profits, though it expects a return to growth in 2026.
Despite the transition, Aptitude maintained a 5.4p full-year dividend and ended the year with £30.4 million in cash. The group said it remains focused on building a scalable, high-margin business centred around recurring software revenue.
The shares, off 24% year to date, fell 15.38p to 255.62p.