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Persistent Reports $1,409.1M FY25 Revenue with 18.8% Y-o-Y Growth and 14.7% EBIT Margin

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Achieves $375.2M revenue in Q4, up 4.2% Q-o-Q  

PUNE, India, April 24, 2025 /PRNewswire/ — Persistent Systems (BSE: PERSISTENT) and (NSE: PERSISTENT) today announced the Company’s audited financial results for the quarter and year ended March 31, 2025, as approved by the Board of Directors.

Consolidated Financial Highlights for the Financial Year 2024-25:

FY24

FY25

Margin%

Y-o-Y Growth

Revenue (USD Million)

1,186.1

1,409.1

18.8 %

Revenue (INR Million)

98,215.9

119,387.2

21.6 %

EBIT (INR Million)

14,149.3

17,512.6

14.7 %

23.8 %

PBT (INR Million)

14,476.1

18,223.1

15.3 %

25.9 %

PAT (INR Million)

10,934.9

14,001.6

11.7 %

28.0 %

Consolidated Financial Highlights for the Quarter ended March 31, 2025:

Q4FY25

Margin %

Q-o-Q Growth

Y-o-Y Growth

Revenue (USD Million)

375.2

4.2 %

20.7 %

Revenue (INR Million)

32,421.1

5.9 %

25.2 %

EBIT (INR Million)

5,052.9

15.6 %

10.9 %

34.9 %

PBT (INR Million)

5,052.1

15.6 %

4.8 %

27.7 %

PAT (INR Million)

3,957.6

12.2 %

6.1 %

25.5 %

The Board of Directors recommended a Final Dividend of ₹15 per share. This brings the total dividend for the year to ₹35, to acknowledge Persistent’s 35th anniversary. The Dividend recommended by the Board is subject to approval at the ensuing Annual General Meeting.

Furthermore, Persistent welcomed Vinit Teredesai, Chief Financial Officer, as Additional Director to the Board.

Dr. Anand Deshpande, Founder, Chairman and Managing Director, Persistent:

“Persistent is leading the AI-led transformation, supported by early investments, strong execution, and a clear vision to embed AI across our clients’ digital journey. Celebrating 35 years since our foundation and 15 years of being publicly listed on the National Stock Exchange of India, our unwavering commitment to innovation and client success continues to set us apart as we drive the future of technology with purpose and precision.

I am delighted to welcome our CFO, Vinit Teredesai, as Additional Director to our Board.”

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent:

“We are proud to have delivered our 20th sequential quarter of revenue growth, with an EBIT margin of 15.6%. We thank our employees, clients, partners, and shareholders, whose continued support has been instrumental in our success.

Despite the uncertain macroeconomic environment, our consistent performance reflects the trust of our clients, enduring strength of our capabilities, and operational discipline. This momentum has been further validated by multiple prestigious industry recognitions, including the ISG Star of Excellence™ Award based on the voice of the customer and our Challenger positioning in the Gartner® Magic Quadrant™ for Public Cloud IT Transformation Services.

As we look ahead, we are optimistic about sustaining progress to reach $2 billion in annual revenue by FY27. Our strategic pivot to AI-led platform-driven services will drive this growth, fueled by continued rigor and innovation. We are well-positioned to continue delivering consistent and differentiated long-term value for all our stakeholders.”

Fourth Quarter FY25 Client Wins and Outcomes

The order booking for the quarter ended on March 31, 2025, was $517.5 million in Total Contract Value (TCV) and $350.2 million in Annual Contract Value (ACV).

Some of the key wins for the quarter include:

Software, Hi-Tech & Emerging Industries

Improving product robustness and compliance through advanced data loss prevention and hybrid secure web gateway offerings for a global security service edge leaderAccelerating product innovation using AI platforms and establishing an R&D center for a leading non-profit organization software providerEnabling 24/7 monitoring, service level benchmarking, and continuous improvement with a managed offshore Security Operations Center for a leading cybersecurity company

Banking, Financial Services & Insurance

Boosting the accuracy of reporting and integration across applications with the creation of a regulatory compliance data platform for one of the largest US-based financial services companiesEnhancing productivity for business analysts through the development, enhancement, and maintenance of an AI-powered analytics platform for a global tax and accounting software leaderStreamlining compliance, security, and contact center integration via a modernized payments platform for a leading UK-based payments solutions provider

Healthcare & Life Sciences

Scaling AI adoption for enhanced patient data management, faster claims processing, and advanced analytics by modernizing and migrating data infrastructure on Azure for a major healthcare companyEnabling faster releases, better engineering productivity, and increased quality for R&D by leveraging SASVA™ for product engineering for a global clinical research and healthcare intelligence providerDriving GenAI-led operational efficiency and regulatory compliance through transformed IT infrastructure and managed services for a global contract research and development organization

News in the Quarter

Celebrated the 15th anniversary of Persistent’s IPO on the National Stock Exchange of India and launched the US chapter of Persistent Foundation with an initial commitment of $1MSandeep Kalra honored as a Tech Titan at the Business Today India’s Best CEOs AwardsPersistent won the 2025 Google Cloud Infrastructure Modernization Partner of the Year Award for Asia PacificPersistent recognized as a Leader in Everest PEAK Matrix® Assessment on Custom Application Development Services 2025 – GlobalPersistent named a Leader in 2024 ISG Provider Lens™ Advanced Analytics and AI Services (U.S.)Persistent named in the Gartner® Market Guide for Generative AI Services for BankingPersistent placed as a Leader in 2024 ISG Provider Lens™ Insurance ITO Services – Midmarket (North America)Persistent among the top 5 in the European IT Outsourcing study by Whitelane Research

About Persistent

Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization to businesses across industries. With over 24,500 employees located in 19 countries, the Company is committed to innovation and client success. Persistent offers a comprehensive suite of services, including AI-enabled software engineering, product development, data and analytics, CX transformation, cloud computing, and intelligent automation. The Company is part of the MSCI India Index and is included in key indices of the National Stock Exchange of India, including the Nifty Midcap 50, Nifty IT, and Nifty MidCap Liquid 15 as well as several on the BSE such as the S&P BSE 100 and S&P BSE SENSEX Next 50. Persistent is also a constituent of the Dow Jones Sustainability World Index. The Company has achieved carbon neutrality, reinforcing its commitment to sustainability and responsible business practices. As a participant of the United Nations Global Compact, Persistent is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, as well as take actions that advance societal goals. With 327% growth in brand value since 2020, Persistent is the fastest-growing IT services brand in the 2024 Brand Finance India 100 Report.

www.persistent.com

Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs

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Simply announces compatibility with AI glasses from Meta

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NEW YORK, April 29, 2026 /PRNewswire/ — Simply, the creative hobbies leader behind the market leading apps Simply Piano, Simply Guitar, Simply Sing, and Simply Draw, today announced compatibility with AI glasses from Meta.

 

The launch signals Simply’s next leap – from mobile and augmented reality into AI glasses – as part of its long–term vision to build a fully multimodal AI platform that connects physical creativity, digital experiences, and wearable interfaces.

After pioneering music learning through augmented reality with Simply Piano for Apple Vision Pro and Simply Piano for Android XR, Simply is now expanding its creative hobbies ecosystem into AI–powered wearables. The new integration with Simply Draw and AI glasses from Meta lets learners capture their drawing process in real time, generating AI–enhanced timelapses and shareable creative assets that showcase their creation. 

“This is an exciting step toward a new era for creativity,” said Yuval Kaminka, CEO and Co–Founder of Simply. “We believe that the way we experience the arts, learning, playing and creative expression at home will become fully contextual. AI glasses allow us to move closer to a true AI creative companion – a multimodal AI, one that understands what you’re doing and supports you in the moment.”

“AI glasses are becoming a natural extension of how we learn and create,” added Eliran Douenias, Head of Product Innovation at Simply. “Our products already enable immersive and virtual experiences with XR and spatial computing, now we’re adding AI glasses from Meta as the next interface – and it’s just the first of an exciting roadmap ahead.”

“Simply’s early move into the AI glasses space puts us ahead of the curve and positions us to lead in how wearables – specifically AI glasses – become part of everyday creative life,” said Douenias.

With this launch, Simply is expanding its platform for the AI era. The new compatibility with AI glasses from Meta enhances how learners see, capture, and share their creative process, with many more experiences to follow.

About Simply

Simply is the world’s leading AI creativity platform redefining how people learn and express themselves through music, arts, crafts, and more. Its award–winning apps – Simply Piano, Simply Guitar, Simply Sing, and Simply Draw – have empowered millions globally to pick up and develop fulfilling creative hobbies that last.

Contact info: eliran@hellosimply.com

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SOURCE Simply

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Levine Leichtman Capital Partners Hires James Smith as Managing Director

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LONDON, April 29, 2026 /PRNewswire/ — Levine Leichtman Capital Partners (“LLCP”) announced today that James Smith has joined the Firm as a Managing Director in the Investment Management group. James will be based in LLCP’s London office.

Josh Kaufman, Head of Europe at LLCP, said, “We are thrilled to welcome James to LLCP. James adds valuable experience to the team within our core Business Services sector vertical. We look forward to the impact he will have as our European business and team continues to grow.”

James joins LLCP from Advent International where he was a senior member of the European Business & Financial Services team and participated in numerous successful transactions over his 12-year tenure. Prior to Advent, James worked at Bain & Company. James’ full biography can be found at https://www.llcp.com/team

About Levine Leichtman Capital Partners

Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 42-year track record of investing across various targeted sectors, including Business Services, Franchising & Multi-unit, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.

LLCP’s global team of dedicated investment professionals is led by 9 partners who have worked at LLCP for an average of 20 years. Since inception, LLCP and its affiliates have managed approximately $18.5 billion of capital across nearly 20 investment funds and has invested in approximately 120 portfolio companies. LLCP currently manages $12.6 billion of assets and has offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, Amsterdam and Frankfurt.

Media Contact: Isabel Moon, imoon@llcp.com

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Appian Advances AI in Process to Deliver Enterprise Outcomes at Scale

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New capabilities in agentic automation and AI-assisted spec-driven development transform complex work.

ORLANDO, Fla., April 29, 2026 /PRNewswire/ — Appian [Nasdaq: APPN] today announced enhancements to the Appian Platform, including AI-assisted spec-driven development and Model Context Protocol (MCP) integration for agents. By anchoring AI within processes, Appian eliminates the primary hurdles to AI value: fragmented data, and a lack of reliability and control. Process models provide the structure needed to deliver results safely, and at scale.

Advancements in AI agents enable more intelligent, coordinated work

AI agents in Appian are smarter, safer and more effective because they have better structure, context and guardrails. Appian is enhancing interoperability across its AI ecosystem. By adopting powerful standards like Model Context Protocol (MCP), Appian agents will be able to interface securely with external enterprise systems. Third party AI agents will have access to powerful Appian tools like data fabric which uniquely provides unified read-write access to enterprise data.

Appian is also advancing agent learning by providing users the ability to track agent performance, and then apply an agent’s memory across processes to improve decision making. Users will soon be able to expand on this by giving AI guidance on what objectives to optimize against and recommend improvements that can be applied safely.

Customer value

Global Excel Management, a worldwide healthcare risk management provider, uses Appian to transform claims processes with AI.

“As part of our digital transformation we are evolving our claims processes by transitioning from fragmented workflows to an enhanced level of operations using technological advancements enabled with AI features,” said Pascal Tanguay, SVP, Global Technology Services, Global Excel Management. “With Appian, our processes will be unified. From initial intake to adjudication, our advanced technology will reduce redundant tasks and lessen complexity for our team members. This ensures that our claims processes are consistent and completed more efficiently and accurately.”

Context gives agents a common vocabulary for business data

To support advanced agent capabilities, Appian is augmenting its industry-leading data fabric. Appian’s data fabric has been enhanced to provide a unified metadata model that gives agents clearer context about how information is structured and connected across systems.

Furthering its commitment to supporting industry-leading data platforms, Appian is launching a technology partnership with Snowflake. This unites Appian as the AI orchestration layer with Snowflake’s AI Data Cloud, combining data aggregation, model training, and process orchestration to enable immediate business value. Direct MCP-enabled integration between Appian data fabric and Snowflake equips agents with deep enterprise context, and allows them to interact directly with Snowflake Cortex AI to drive intelligent, data-backed decisions.

“Enterprises don’t need more AI experiments, they need AI that delivers real business outcomes on governed data,” said Baris Gultekin, Vice President of AI, Snowflake. “By combining Appian’s process orchestration and data fabric with the Snowflake AI Data Cloud, we’re bringing intelligence directly into the flow of work. Together, we enable secure, enterprise-grade AI where agents can access trusted data through Cortex AI, act with context, and drive measurable impact across the business.”

AI-assisted spec-driven development

AI-assisted development has revolutionized coding, but mission-critical work needs more than fast, cheap code. Appian puts structure around AI-assisted development. Without that structure, AI-generated code can introduce compliance issues and technical debt instead of business value.

Appian is introducing AI-assisted spec-driven development. AI extracts rich specifications from legacy applications to create a clear visual plan. This plan helps visualize the UI, data models and process flows for rapid and iterative operational improvements. AI developer agents, operating under human supervision, complete tasks according to specifications, accelerating delivery and reducing rework.

New developer MCP servers will allow organizations to use their choice of AI development tools, such as Claude Code or Kiro to build and update Appian applications. Appian will support a wide range of AI models, enabling teams to work in the environments they prefer.

Together, these enhancements will deliver the speed and developer productivity of AI-assisted development, with enterprise-grade control.

“Appian Composer, Agents and Appian MCP servers enable trusted agentic process orchestration and application modernization,” said Mike Beckley, Chief Technology Officer and Founder of Appian. “Composer complements Appian’s agentic orchestration and data fabric with new spec-driven development tools that are both conversational and iterative. Beneath the covers, Appian Composer is built on Appian’s new open MCP – a model-driven representation of your complete application estate—requirements, apps, data entities, logic, workflows, security/governance rules, integrations, and multi-object dependencies—now exposed as context for developers and agents to safely evolve and optimize.”

The advancements announced today were unveiled at Appian World 2026 and will be available in coming releases. Learn more at www.appian.com

About Appian

Appian provides process automation technology. We automate complex processes in large enterprises and governments. Our platform is known for its unique reliability and scale. We’ve been automating processes for 25 years and understand enterprise operations like no one else. For more information, visit appian.com. [Nasdaq: APPN]

Follow Appian: LinkedIn, Youtube, Instagram, Facebook, and X.

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