Business
2024 Audited Results
2024 Audited Results.
About this update from Getbusy Plc
[{"type":"text","content":"\n\n25 March 2025\nGetBusy plc\n2024 Audited Results\nA clear strategy to create and realise value\n \nGetBusy 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 2024 (the \"Year\" or \"2024\").\n\n\n\n\n\n\n\n2024\n\n\n2023\n\n\nChange\n\n\n\n\n£'000\n\n\n£'000\n\n\nReported currency\n\n\nConstant currency***\n\n\n\n\nARR\n\n\n21,591\n\n\n \n20,524\n\n\n \n5%\n\n\n \n6%\n\n\n\n\nRecurring revenue\n\n\n20,853\n\n\n \n20,311\n\n\n \n3%\n\n\n \n4%\n\n\n\n\nTotal revenue\n\n\n21,445\n\n\n \n21,112\n\n\n \n2%\n\n\n \n3%\n\n\n\n\nAdjusted EBITDA*\n\n\n1,496\n\n\n \n1,045\n\n\n43%\n\n\n\n\nAdjusted profit / (loss) before tax**\n\n\n3\n\n\n \n(629)\n\n\nn/a\n\n\n\n\nAvailable cash funds\n\n\n3,062\n\n\n3,942\n\n\n(22%)\n\n\n\n\nNet cash\n\n\n1,062\n\n\n \n1,942\n\n\n(55%)\n\n\n\n\n \nFinancial highlights\n· ARR growth of 6% at constant currency to £21.6m (2023: £20.5m)\n· SmartVault ARR up 10% to $15.3m (2023: $13.9m)\n· Recurring revenue growth of 4% at constant currency to £20.9m (2023: £20.3m)\n· Gross margin remains strong at 89.5% (2023: 90.1%) with greater proportion of cloud revenue\n· 43% increase in Adjusted EBITDA* to £1.5m (2023 £1.0m)\n· First year of breakeven at adjusted profit / (loss)** level (2023: £(0.6)m)\n· Available cash funds of £3.1m (2023: £3.9m), with £1m debt facility extension post year-end taking available cash funds to £4.1m\n· Net Cash of £1.1m (2023: £1.9m) reflecting SmartPath acquisition, settlement of historic US sales tax liabilities, and increased working capital\n \nOperational highlights\n· Net revenue retention of 99.7% (2023: 100.0%)\n· ARPU up 9% at constant currency to £323 (2023: £301)\n· 3% reduction in paying users to 66,400 (2023: 68,227), reflecting strategy to focus on higher value customers and churn within legacy Virtual Cabinet bus...