GetBusy sees half-year loss widening despite revenue growth

(Alliance News) - GetBusy PLC on Tuesday reported a wider pretax loss for the first half of 2025, despite revenue growth and improved recurring income from its core software platforms.

The Cambridge, England-based document management and productivity software provider said its pretax loss widened to GBP583,000 in the six months to June 30, from GBP9,000 a year earlier.

Total revenue rose 2.4% year-on-year to GBP11.0 million from GBP10.7 million, driven by performance at its SmartVault division.

Recurring revenue grew 3.1% to GBP10.7 million from GBP10.4 million, with group annualised recurring revenue up 0.6% to GBP21.1 million, or 5% at constant currency.

Adjusted earnings before interest, tax, depreciation and amortisation rose 5.2% to GBP423,000 from GBP402,000. However, adjusted loss before tax nearly doubled to GBP666,000, from GBP335,000.

GetBusy said SmartVault is positioned for accelerated growth in the second half, with accounting-focused ARR up 12% year-on-year to USD15.6 million, supported by new AI-powered tools and integrations with Intuit’s ProConnect platform. The division now serves over 23,000 US tax professionals.

Workiro product ARR increased 40%, though total divisional ARR, which includes Virtual Cabinet, was flat at GBP9.6 million.

GetBusy ended the period with GBP3.0 million in available funds, up from GBP2.2 million a year prior, and net bank debt of GBP40,000, compared to net cash of GBP178,000.

Chief Executive Daniel Rabie said the company is "very well-placed for a material ARR acceleration over the rest of the year" and sees a "clearer and more achievable than ever" path to delivering cash returns to shareholders.

Shares in GetBusy were up 2.0% at 58.65 pence each in London on Tuesday morning.

By Eva Castanedo, Alliance News reporter

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