REG - GetBusy PLC - AGM Trading Update

GetbusyAnnouncement

21/05/2024 07:00

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RNS Number : 1772P  GetBusy PLC  21 May 2024

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)         +44 (0)20 7220 0500

 Matt Goode / Charlie Beeson / Trisyia Jamaludin (Corporate Finance)

 Harriet Ward (ECM)

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

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