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
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