REG - GetBusy PLC - Capital Markets Day and Operating Update

GetbusyAnnouncement

22/09/2022 07:01

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RNS Number : 2151A  GetBusy PLC  22 September 2022

22 September 2022

GetBusy plc

 

Capital Markets Day and Operating Update

 

ARR growth continues and new partnerships build foundation for channel
expansion

 

GetBusy plc ("GetBusy", the "Company" or the "Group") (AIM: GETB), a leading
provider of productivity software for professional and financial services,
will today be holding a Capital Markets Day ("CMD") for investors and analysts
at its Cambridge offices, Suite 8 The Works 20 West Street, Unity Campus,
Cambridge, CB22 3FT.

 

The management presentations will provide detailed insight into the Company
and its strategy for growth. Ahead of the CMD, the Company is pleased to
provide the below operating update and confirms, that no new material
disclosures will be made during the CMD event. All presentation materials will
be made available during the course of the day at www.getbusyplc.com
(http://www.getbusyplc.com) .

 

For those who cannot attend the event, a recording of the presentation will be
made available on the Company's website in due course.

 

Continued ARR growth

 

ARR at 31 August 2022 was £18.8m*, up from £18.1m at 30 June 2022, with
solid new business and monetisation across the Group driving the growth.

 

Beta release of DocDown and Quoters

 

Following product improvement and integration work over the course of 2022,
the Group has now launched its beta programme for the form-fill and quoting
capabilities acquired in October 2021 from DocDown and Quoters.

 

Both integrated products are available on an opt-in basis to all 30,000
SmartVault users, with feedback being collated from a targeted cohort of
confirmed beta customers to inform future product iterations and pricing.
Following completion of the full launch, work will begin on integrating the
products into Virtual Cabinet to offer the capability to Virtual Cabinet's
base of nearly 45,000 users.

 

The DocDown and Quoters capabilities deliver an enhanced customer experience
and meaningful time-saving productivity improvements, providing the Group with
sizeable expansion revenue opportunity as average revenue per user improves.

 

SmartVault reseller partnership with Right Networks

 

SmartVault, the Group's fast-growing cloud document management and workflow
product, has signed a three-year reseller agreement with US-based Right
Networks, a vertical cloud service provider that offers the only intelligent
cloud purpose-built for accounting firms and professionals.  Under the
agreement, Right Networks will market and sell SmartVault to its substantial
base of over 8,500 accounting firms, with commercial launch expected in late
2022.

 

The agreement with Right Networks enables SmartVault to establish a larger
presence in its core market of small and medium-sized accounting firms in the
US. This supplements SmartVault's highly scalable direct customer acquisition
strategy and aligns the business with another "best of breed" brand in the
strategically valuable US accounting market.

 

Virtual Cabinet integration and referral partnership with Turnkey IPS

 

Virtual Cabinet, the Group's richly functional document management platform
for enterprise clients in professional and financial services, has built on
its recent successes in the insolvency market and signed an agreement with
Turnkey IPS, the UK's leading insolvency software provider, to become its
preferred partner for document management.

 

With an installed base of over 350 insolvency and restructuring firms in the
UK and Australia, Turnkey is instrumental in many of the UK's most
high-profile insolvency cases. With both on-premise and cloud delivery
options, Virtual Cabinet is able to support the full spectrum of Turnkey
customers, and build an integrated product that supports the productivity of
the insolvency sector as it makes its transition to the cloud.

 

Daniel Rabie, CEO of GetBusy, said:

 

"I am delighted that the momentum we established during the first half of the
year has continued into H2. Further ARR growth through new business and
monetisation confirms that we are winning in our chosen markets. The
broadening of our channels and the release of complementary capabilities to
drive expansion revenue demonstrates that we are executing on our strategy to
drive long-term growth in high quality recurring subscription revenue.

 

"We welcome Turnkey and Right Networks - each a leader in their respective
markets - as valued partners within the best-of-breed ecosystem we're
establishing to deliver the very best in productivity and user experience for
our customers.

 

"The Board reaffirms its previously upgraded expectations for 2022 with a high
degree of confidence."

 

*ARR stated at the same foreign exchange rates used at 30 June 2022.

 

GetBusy plc

investors@getbusy.com

    Panmure Gordon (Financial Adviser, Nominated Adviser and Broker)       +44 (0)20 7886 2500

    Alina Vaskina / James Sinclair-Ford (Corporate
 Advisory)

    Erik Anderson (Corporate Broking)

    Alma PR (Financial PR)                                              +44 (0)20 7886 2500

    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 74,000 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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