21 May 2024
GetBusy plc
AGM Trading
Update
GetBusy plc (AIM: GETB) ("GetBusy"
or "the Group"), a leading provider of productivity software for
professional and financial services, provides an update on trading
ahead of today's Annual General Meeting.
The Group continues to make good
operational progress towards its strategic goals.
Annualised recurring revenue ("ARR")
at 30 April 2024 was approximately £20.8m, up from £20.5m at 31
December 2023.
SmartVault saw record usage and
operated with 100% availability throughout the peak US tax season
up to 15 April, a testament to the robustness of the product and
the dedication of our product and engineering teams. This
reliability is a meaningful component of SmartVault's brand and is
the reason over 30,000 accountants choose it to handle their most
important documents and data during their main revenue-generating
period.
The integration of the recently
acquired SmartPath business into SmartVault is progressing well,
with strong new business since the end of US tax season.
Longer-term expansion revenue prospects from integrating, packaging
and selling SmartPath into the existing SmartVault customer base
are very encouraging.
The pipeline for Workiro in the ERP
space continues to grow and we have started to see a more regular
flow of won deals across an encouragingly wide range of industries,
complemented by an increasing number of Virtual Cabinet customers
migrating to Workiro at a higher ARPU.
The Board is pleased to reconfirm
expectations* for the year and remains very encouraged
about the long-term value creation and realisation prospects for
the Group.
* Expectations for the year-ending
31 December 2024 are considered to comprise Revenue of £22.9m and
Adjusted EBITDA of £1.2m.
GetBusy plc
investors@getbusy.com
|
Cavendish Capital Markets Limited (Nominated Adviser and
Broker)
Matt Goode / Charlie Beeson /
Trisyia Jamaludin (Corporate Finance)
Harriet Ward (ECM)
|
+44 (0)20 7220 0500
|
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 73,000 paying users and
over 3 million collaborators 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