GetBusy PLC Capital Markets Day and Operating Update (2151A)

TIDMGETB

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 .

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 GBP18.8m*, up from GBP18.1m 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

[e-mail]

 
 
 
   Panmure Gordon (Financial Adviser, Nominated 
   Adviser and Broker) 
   Alina Vaskina / James Sinclair-Ford (Corporate 
   Advisory)                                           [phone] 
   Erik Anderson (Corporate Broking)                    2500 
  Alma PR (Financial PR)                              [phone] 
   Hilary Buchanan / Andy Bryant / Hannah Campbell     2500 
 

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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September 22, 2022 02:01 ET (06:01 GMT)