**Summary**
Pennant International Group PLC, a systems support software and training solutions company, released its final results for the year ended 31 December 2025. Despite a challenging year with revenue decline to £9.7 million (from £13.8 million in 2024), the company strengthened its order book to £23.3 million, with £9.7 million scheduled for delivery in 2026. Software Annual Recurring Revenue (ARR) grew by 26% to £2.4 million, and 60% of revenues are now recurring. The company maintained strong gross margins at 49% but reported an adjusted EBITDA loss of £0.4 million and an adjusted loss before tax of £1.9 million. Net debt reduced to £0.5 million, and the company invested £1.5 million in its Auxilium software. Strategic highlights include completing the Training Systems business streamlining, progressing the Auxilium Development Programme, and signing a global OEM partnership with Siemens. Post-period, a Training Systems contract was secured in the nuclear sector. Management anticipates software ARR to exceed £3.0 million by the end of FY26 and aims for a return to break-even adjusted PBT in FY26. The company’s three-year strategy focuses on growing software ARR to £4 million, returning Technical Service revenues to £7.0 million, and achieving adjusted EBITDA and PBT margins of 20% and 10%, respectively, by 2028. An investor presentation is scheduled for 24 March 2026.