Pennant’s FY25A results reflect a transitional year, with continued progress in its shift towards a SaaS-led model, evidenced by ARR increasing 26% YoY to a new record high of £2.4m (FY24A: £1.9m). Total revenues declined 30% YoY to £9.7m (FY24A: £13.8m) in-line with expectations, reflecting the absence of the prior year Apache Training Systems contract and delay to the GenFly contract award, whilst gross margins remained resilient at 49% (FY24A: 50%). Profitability was impacted by operational g ....
