REG - GetBusy PLC - AGM Trading Update

GetbusyAnnouncement

05/05/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220505:nRSE3709Ka&default-theme=true

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTEAXSLESDAEFA