TIDMGETB
RNS Number : 2151A
GetBusy PLC
22 September 2022
22 September 2022
GetBusy plc
Capital Markets Day and Operating Update
ARR growth continues and new partnerships build foundation for
channel expansion
GetBusy plc ("GetBusy", the "Company" or the "Group") (AIM:
GETB), a leading provider of productivity software for professional
and financial services, will today be holding a Capital Markets Day
("CMD") for investors and analysts at its Cambridge offices, Suite
8 The Works 20 West Street, Unity Campus, Cambridge, CB22 3FT.
The management presentations will provide detailed insight into
the Company and its strategy for growth. Ahead of the CMD, the
Company is pleased to provide the below operating update and
confirms, that no new material disclosures will be made during the
CMD event. All presentation materials will be made available during
the course of the day at www.getbusyplc.com .
For those who cannot attend the event, a recording of the
presentation will be made available on the Company's website in due
course.
Continued ARR growth
ARR at 31 August 2022 was GBP18.8m*, up from GBP18.1m at 30 June
2022, with solid new business and monetisation across the Group
driving the growth.
Beta release of DocDown and Quoters
Following product improvement and integration work over the
course of 2022, the Group has now launched its beta programme for
the form-fill and quoting capabilities acquired in October 2021
from DocDown and Quoters.
Both integrated products are available on an opt-in basis to all
30,000 SmartVault users, with feedback being collated from a
targeted cohort of confirmed beta customers to inform future
product iterations and pricing. Following completion of the full
launch, work will begin on integrating the products into Virtual
Cabinet to offer the capability to Virtual Cabinet's base of nearly
45,000 users.
The DocDown and Quoters capabilities deliver an enhanced
customer experience and meaningful time-saving productivity
improvements, providing the Group with sizeable expansion revenue
opportunity as average revenue per user improves.
SmartVault reseller partnership with Right Networks
SmartVault, the Group's fast-growing cloud document management
and workflow product, has signed a three-year reseller agreement
with US-based Right Networks, a vertical cloud service provider
that offers the only intelligent cloud purpose-built for accounting
firms and professionals. Under the agreement, Right Networks will
market and sell SmartVault to its substantial base of over 8,500
accounting firms, with commercial launch expected in late 2022.
The agreement with Right Networks enables SmartVault to
establish a larger presence in its core market of small and
medium-sized accounting firms in the US. This supplements
SmartVault's highly scalable direct customer acquisition strategy
and aligns the business with another "best of breed" brand in the
strategically valuable US accounting market.
Virtual Cabinet integration and referral partnership with
Turnkey IPS
Virtual Cabinet, the Group's richly functional document
management platform for enterprise clients in professional and
financial services, has built on its recent successes in the
insolvency market and signed an agreement with Turnkey IPS, the
UK's leading insolvency software provider, to become its preferred
partner for document management.
With an installed base of over 350 insolvency and restructuring
firms in the UK and Australia, Turnkey is instrumental in many of
the UK's most high-profile insolvency cases. With both on-premise
and cloud delivery options, Virtual Cabinet is able to support the
full spectrum of Turnkey customers, and build an integrated product
that supports the productivity of the insolvency sector as it makes
its transition to the cloud.
Daniel Rabie, CEO of GetBusy, said :
"I am delighted that the momentum we established during the
first half of the year has continued into H2. Further ARR growth
through new business and monetisation confirms that we are winning
in our chosen markets. The broadening of our channels and the
release of complementary capabilities to drive expansion revenue
demonstrates that we are executing on our strategy to drive
long-term growth in high quality recurring subscription
revenue.
"We welcome Turnkey and Right Networks - each a leader in their
respective markets - as valued partners within the best-of-breed
ecosystem we're establishing to deliver the very best in
productivity and user experience for our customers.
"The Board reaffirms its previously upgraded expectations for
2022 with a high degree of confidence."
* ARR stated at the same foreign exchange rates used at 30 June
2022.
GetBusy plc
investors@getbusy.com
Panmure Gordon (Financial Adviser, Nominated
Adviser and Broker)
Alina Vaskina / James Sinclair-Ford (Corporate
Advisory) +44 (0)20 7886
Erik Anderson (Corporate Broking) 2500
Alma PR (Financial PR) +44 (0)20 7886
Hilary Buchanan / Andy Bryant / Hannah Campbell 2500
About GetBusy
GetBusy's specialist productivity software solutions enable
growing businesses to work securely and efficiently with their
customers, suppliers and teams anytime, anywhere. Our solutions can
be delivered flexibly across cloud, mobile, hosted and on-premise
platforms, whilst integrating seamlessly with a wide variety of
other class-leading core business systems.
With over 74,000 paying users across multiple market sectors and
jurisdictions, GetBusy is an established and fast-growing SaaS
business delivering sustained double-digit growth in high-quality
recurring subscription revenue over the long term.
Further information on the Group is available at
www.getbusyplc.com
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