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RNS Number : 3709K GetBusy PLC 05 May 2022
5 May 2022
GetBusy plc
AGM Trading Update
GetBusy plc ("GetBusy" or the "Group") (AIM: GETB), a leading provider of
productivity software for professional and financial services, provides an
update on trading ahead of today's Annual General Meeting.
The Board is pleased to confirm continued strong trading momentum in the first
four months of 2022. ARR at constant currency has grown by 19%
year-on-year, reaching £17.0m at 30 April 2022. This has been driven by
buoyant customer demand across the Group's established brands, the continued
benefit from monetisation initiatives and healthy net revenue retention
levels.
The integration of the technologies acquired last year is progressing to plan
and we are making encouraging headway building out the customer acquisition
and operational models for the Group's emerging products, Workiro and
Certified Vault. Net cash remains solid, underpinned by the Group's undrawn
£2m debt facility.
The Board reaffirms its expectations* for 2022 with a very high level of
confidence.
Daniel Rabie, CEO, commented:
"We are pleased to report that the significant groundwork we laid last year in
supporting our ambition to at least double the business over five years is
bearing fruit, with an acceleration of ARR, up 19% year-on-year. This provides
the Group with enhanced revenue visibility and the resources to continue to
invest in its expanding capabilities.
"GetBusy has an enviable mix of established productivity products with strong
track records and prospects that underpin our growth, complemented by
innovative emerging offerings that carry the potential to significantly
enhance growth in the future.
"Sizeable, under-penetrated markets and compelling macro trends, including
digital transformation, cyber security, privacy legislation and hybrid working
are driving more and more organisations to seek technology solutions, such as
ours, to help them work better and smarter, providing us with significant
growth opportunities. The Group's broadening capabilities, growing traction in
new markets and continued double-digit growth in high quality recurring
revenues gives the Board confidence in delivering on our ambition and
generating long-term value for all shareholders."
* Expectations, as outlined within the 2021 results issued on 1 March 2022,
are:
· group revenue of not less than £17.0m
· adjusted EBITDA approaching break-even
GetBusy plc
investors@getbusy.com
Liberum Capital Limited (Nomad and Broker)
Cameron Duncan / Lauren
Kettle
+44 (0)20 3100 2000
Alma PR (Financial PR) +44 (0) 20 3405 0205
Hilary Buchanan / Andy Bryant / Hannah Campbell
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 70,000 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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