REG - GetBusy PLC - AGM Trading Update

GetbusyAnnouncement

20/05/2025 07:00

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RNS Number : 2966J  GetBusy PLC  20 May 2025

20 May 2025

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 board is pleased to report that annualised recurring revenue ("ARR") at 30
April 2025 was £21.3m, up 6% year-on-year at constant currency and reflecting
a £0.6m currency headwind since the beginning of the year.  The board
remains very encouraged about the long-term value creation and realisation
prospects for the Group and confirms revenue expectations for 2025, noting the
marked uncertainty from currency volatility.

 

The integration between SmartVault and ProConnect Tax, Intuit's fast-growing
online professional tax software application with built-in tax advisory
insights, is progressing well.  This integration, and the previously
announced strengthening of the strategic partnership with Intuit, opens a
materially larger market for SmartVault and we expect strong demand from
launch, which is scheduled in early H2-2025.  Together with the Q4-2025
launch of new AI-driven workflow features, we expect an acceleration of ARR
growth in SmartVault in the latter part of 2025 and into 2026.

 

The sales pipeline in Workiro, from partners and the direct channel, continues
to grow.  Encouragingly, Workiro is now specified by default into new
business by some of our NetSuite partners.  ERP-related sales and
implementation cycles remain long and variable, reflecting the infrastructural
nature of the solution for core customer workflows; whilst this can be
challenging for the predictability of new business, it is likely to lead to
very low churn rates and high lifetime values once implemented.  The
development of tooling to automate and simplify the migration of Virtual
Cabinet customers to Workiro is progressing well; we expect a significant
proportion of existing customers to be migration-ready during H2-2025, which
we anticipate will lead to an improvement in churn rates in Virtual Cabinet.

 

 

GetBusy plc

investors@getbusy.com

 Cavendish Capital Markets Limited (Nominated Adviser and Broker)     +44 (0)20 7220 0500

 Matt Goode / Trisyia Jamaludin (Corporate Finance)

 Harriet Ward (Corporate Broking)

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 nearly 70,000 paying users and over 4 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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