Business
2022 Audited Results
2022 Audited Results.
About this update from Getbusy Plc
[{"type":"text","content":"\n \n \n \n 1 March 2023\n \n \n \n \n GetBusy plc\n \n \n \n \n \n \n \n \n \n 2022 Audited Results\n \n \n \n \n \n \n \n \n \n Growth strategy delivering\n \n \n \n \n \n \n GetBusy plc (\"GetBusy\", the \"Company\" or the \"Group\") (AIM: GETB), a leading provider of productivity software for professional and financial services, announces its audited results for the year ended 31 December 2022.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n Change\n \n \n \n \n \n \n \n \n £'000\n \n \n \n \n \n \n £'000\n \n \n \n \n \n \n Reported currency\n \n \n \n \n \n \n Constant currency***\n \n \n \n \n \n \n \n \n ARR\n \n \n \n \n \n \n 19,240\n \n \n \n \n \n 15,828\n \n \n \n \n 22%\n \n \n \n \n 16%\n \n \n \n \n \n \n \n Recurring revenue\n \n \n \n \n \n \n 18,281\n \n \n \n \n \n 14,343\n \n \n \n \n 27%\n \n \n \n \n 21%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total revenue\n \n \n \n \n \n \n 19,293\n \n \n \n \n \n 15,448\n \n \n \n \n 25%\n \n \n \n \n 19%\n \n \n \n \n \n \n \n Adjusted EBITDA*\n \n \n \n \n \n \n 692\n \n \n \n \n \n (510)\n \n \n \n \n n/a\n \n \n \n \n \n \n \n Adjusted loss before tax**\n \n \n \n \n \n \n (746)\n \n \n \n \n \n (1,222)\n \n \n \n \n 39%\n \n \n \n \n \n \n \n Loss before tax\n \n \n \n \n \n \n (543)\n \n \n \n \n \n (2,335)\n \n \n \n \n 77%\n \n \n \n \n \n \n \n Cash\n \n \n \n \n \n \n 2,972\n \n \n \n \n \n 2,670\n \n \n \n \n 11%\n \n \n \n \n \n \n \n \n \n \n \n \n \n Financial highlights\n \n \n \n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n 27% recurring revenue growth (21% at constant currency) to £18.3m\n \n \n \n \n \n \n ·\n \n \n \n \n 25% total revenue growth (19% at constant currency) to £19.3m\n \n \n \n \n \n \n ·\n \n \n \n \n ARR growth of 22% (16% at constant currency) to £19.2m with healthy new business, improving churn and successful monetisation\n \n \n \n \n \n \n ·\n \n \n \n \n Recurring revenue comprises 95% of total revenues (2021: 93%)\n \n \n \n \n \n \n ·\n \n \n \n \n Gross margin remains strong at 89.9% (2021: 91.6%) with greater volume of cloud revenue\n \n \n \n \n \n \n ·\n \n \n \n \n First year of positive Adjusted EBITDA at £0.7m (2021: £(0.5)m) - with majority of incremental revenue reinvested for growth in line with strategic roadmap\...