GetBusy, the developer of document-management and productivity software, reported a narrowed pretax loss in the first half-year due to strong revenue. The company expects its full-year performance to be in line with market expectations.
Financial Highlights
In the first half of the year, GetBusy’s pretax loss decreased to £782,000 from £879,000 in the same period last year. Adjusted pretax loss, which excludes exceptional and other one-offs, narrowed to £603,000 from £724,000 year-on-year.
The company saw revenue grow to £10.5 million compared to £9.1 million in the previous year. Recurring revenue increased by 16% at constant currency to £10.1 million. Revenue in the U.K. rose by 23% to £3.9 million, while reaching £5.2 million in the U.S., representing a 14% increase at constant currency.
Adjusted earnings before interest, taxes, depreciation and amortization surged to £164,000 from £24,000.
Future Outlook
GetBusy anticipates its underlying performance to align with market forecasts. The company provided a forecast of £21.1 million in full-year revenue and £700,000 in adjusted EBITDA.
“Our core markets remain robust, driven by structural changes in the way people work and a strengthening mandate for security and productivity optimization,” stated GetBusy.
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