Trading Update, Notice of Results & Investor Pres

Pennant International Group PLC

13 July 2026

 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

                                                                    

PENNANT INTERNATIONAL GROUP PLC

("Pennant", the "Company", the "Group")

Trading Update & Notice of Interim Results

Year to date trading in line with market expectations

Pennant International Group plc (AIM:PEN), the systems support software and training solutions company, provides the following trading update for the six months ended 30 June 2026 ("H1 2026").

Unaudited Financial Highlights

The Group expects to report performance for H1 2026 as follows:

·       Revenues of c.£5.9 million, an increase of 31% over H1 2025 (H1 2025: £4.5 million);

·       Annual Recurring Revenue⁽²⁾ ("ARR") of £2.6 million from Auxilium software products;

·       Gross margin of 53% (H1 2025: 45%);

·       Adjusted⁽³⁾ EBITDA of £0.5 million (H1 2025: Adjusted EBITDA loss of £1.0 million);

·       Adjusted⁽³⁾ loss before tax of £0.3 million (H1 2025: Adjusted loss before tax of £1.7 million);

·       Continued investment in the Auxilium suite of £0.7 million (H1 2025: £0.7 million); and

·       Net debt at 30 June 2026 of £0.9 million (H1 2025: £1.0 million) is stated after one off payments, including the repayment of shareholder loan (£0.3m) and redundancy costs (£0.3m).

Segmental Revenue Analysis

Segment	Recurring £m	Non-Recurring £m	H1 2026 £m	H1 2025 £m	% change
Systems Support Software	1.5	-	1.5	1.2	+25%
Technical Services	1.6	0.9	2.5	2.7	-7%
Sub-total Software and Services	3.1	0.9	4.0	3.9	+3%
Engineered Training Solutions	-	1.8	1.8	0.4	+350%
Generic Training Solutions	-	0.1	0.1	0.2	-50%
Sub-total Training Systems	-	1.9	1.9	0.6	+217%
Total Group	3.1	2.8	5.9	4.5	+31%

H1 2026 Operational Highlights

·       Auxilium phase 3 software successfully released in June:  delivery of an improved fully integrated Product Support environment across the three applications - GenS, Analyzer and R4i;

·       Global partnership with Siemens: First sale of Auxilium - GenS via the Group's global partnership with Siemens to a North American defence end user achieved during the period;

·       IPS services contract with the Canadian Department for National Defence awarded: for the use and optimisation of Pennant's Auxilium suite of software to support multiple maritime programs;

·       New S1000D technical publication conversion services capability launched:  ConvertWise launched in partnership with OnePoint Consulting (a UK based technology partner) including the first sale to a North American based military customer;

·       New Training Systems long term contract awarded: with an initial order valued at £1.0m for the supply of a virtual training simulator developed specifically for a UK manufacturer of air defence applications.

Outlook

The Company is on track to achieve full year 2026 market expectations⁽¹⁾. With increased levels of activity on contracted Engineered Training programmes (including in respect of the virtual training simulator contract described above), growth in contracted revenue from Canadian DND services, and new Auxilium software and services opportunities fuelled by the H1 software release and launch of ConvertWise, the second half of the year is expected to be stronger than the first half.

Phil Walker, CEO, commented:

"The first half of 2026 demonstrates the progress Pennant is making both strategically and financially as we execute our strategy. Revenue, margin and profitability have all improved significantly, while the successful launch of Auxilium Phase 3 and a number of strategic contract wins have strengthened our position in key markets. With growing recurring revenues, increasing demand for our solutions and a solid pipeline of opportunities, we enter the second half of the current year with confidence and remain on track to meet full-year market expectations."

Notice of Results

Pennant expects to announce its unaudited Interim Results for the six months to 30 June 2026 on Tuesday 1 September 2026.

Investor Presentation: 11.00am on Tuesday 1 September 2026

Management will hold an investor presentation to cover the Interim Results at 11.00am on Tuesday 1 September 2026.

The presentation will be hosted through the digital platform Investor Meet Company. Investors can sign up to Investor Meet Company and add to meet Pennant via the following link https://www.investormeetcompany.com/pennant-international-group-plc/register-investor. 

For those investors who have already registered and added to meet the Company, they will automatically be invited. 

Questions can be submitted pre-event to [e-mail] or in real time during the presentation via the "Ask a Question" function. 

Note 1: Market expectations are taken from analyst coverage consensus:

	FY26	FY27
Revenue	£13.0m	£14.5m
Adjusted EBITDA	£1.6m	£2.1m
Adjusted PBT	£0.0m	£0.6m
Net debt	£0.5m	£0.1m

Note 2: Annual Recurring Revenue (ARR) is the annualised revenue generated from software subscriptions and maintenance contracts. 

Note 3: the loss before taxation is stated prior to circa £0.4 million of exceptional costs.

Enquiries:

Pennant International Group plc		www.pennantplc.com
Phil Walker, CEO Darren Wiggins, CCFO		[phone]
Cavendish (Nominated Adviser and Sole Broker)		www.cavendish.com
Ben Jeynes / Callum Davidson / George Lawson (Corporate Finance)		[phone]
Michael Johnson / Dale Bellis / Sunila de Silva (Sales and Corporate Broking)
Walbrook PR (Financial PR)		[e-mail]
Tom Cooper Marcus Ulker		[phone] [phone]

Notes to editors:

Pennant International Group plc (AIM: PEN) is a technology driven, leading global provider of system support software and services, technical services, and training solutions. It supports its global customer base in the design, development, operation, maintenance, and training of complex assets, to maximise operational and maintenance efficiency.

Its key markets include Aerospace, Defence and Rail, and adjacent safety-critical markets such as Shipping, Nuclear and Space.

 The Group addresses the market through three key business segments:

•           Auxilium software: a key generator of recurring revenues through the provision of a suite of software tools designed to help clients: manage and use complex data; ensure equipment availability at optimal cost; and comply with industry standards.  Its Integrated Product Support (IPS) and Integrated Logistics Support (ILS) software and services equips customers with powerful market-leading toolsets to manage, model and utilise complex equipment data.

•           Technical Services: drives repeatable revenues through expert support for users of Pennant and third-party solutions including consultancy, support and maintenance, training and bespoke development.

•           Training Systems: project-based revenues relating to the design and build of hardware, software and virtual training solutions for maintainers and operators of aircraft, ships and land systems.

Pennant is strategically focused on sustainable recurring and repeatable revenues and profitability growth, shifting its model towards high margin software and services. Against a climate of rising defence budgets and the burgeoning technological complexity of military, aviation and rail platforms, the demand for these solutions is expected to grow substantially.

Headquartered in Cheltenham, UK, the Group operates worldwide, with offices in the UK, North America and Asia-Pacific, serving markets with high barriers to entry often in regulated industries.

 

END