Financial & Operational Highlights

Alternative Performance Measures (APMs)
The Group uses these APMs, which are not defined or specified under International Financial Reporting Standards, as this is in line with the management information requested and presented to the decision makers in our business; and is consistent with how the business is assessed by our debt and equity providers.
¹ Recurring revenue is defined as revenues associated with access to a specific ongoing service, with invoicing that typically recurs on an annual basis and underpinned by either a multi-year, rolling contract and highly repeatable services. These services include Support & Maintenance, SaaS fees, Hosting services, and some Managed service arrangements which involve a fixed fee irrespective of consumption.
² Adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) is defined as earnings before amortisation, depreciation, non-underlying, acquisition costs, impairment, financing costs and share option costs. Share option costs are excluded from Adjusted EBITDA as this is a commonly used measure in the industry and how management and our shareholders track performance (see note 10 for reconciliation).
³ Adjusted EPS excludes amortisation on acquired intangibles, non-underlying, financing, impairment, share option and acquisition costs (see note 10 for reconciliation).
⁴ Net cash / debt is defined as the aggregation of cash, bank borrowings and the long-term bond (see note 10 for reconciliation). This differs from a similar measure under IFRS, which would also include lease liabilities as debt. The definition used is consistent with that used within the Group’s banking arrangements.
⁵ Free cash flow is defined as net cash flow from operating activities after taxation less capital expenditure and lease payments (see note 10 for reconciliation).

• Record first half order intake of £58.7m, up 9% from H1 FY24 (£54.1m), providing increasing levels of revenue visibility for the remainder of FY25 and into FY26.
• Strong wins from existing and new customers including North Yorkshire Council, Calderdale Borough Council, Swansea Council, the Welsh Government, Ministry of Housing, Communities and Local Government, Berkshire Hathaway Energy, and Pacificorp.
• Continued progress on further developing the Group’s geospatial capabilities and revenue including new wins with customers including Vodafone.
• Healthy M&A pipeline with good progress on a number of strategic targets.
• Acquisition of Plianz, a UK-based provider of Health and Social Care software solutions, shortly after the period end for initial enterprise value of £7.65m in cash.
• Continued growth of India operation in Pune, which now employs over 100 colleagues with further ongoing recruitment to support growth ambition.