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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 £583,000 in the six months to June 30, from £9,000 a year earlier.
Total revenue rose 2.4% year-on-year to £11.0 million from £10.7 million, driven by performance at its SmartVault division.
Recurring revenue grew 3.1% to £10.7 million from £10.4 million, with group annualised recurring revenue up 0.6% to £21.1 million, or 5% at constant currency.
Adjusted earnings before interest, tax, depreciation and amortisation rose 5.2% to £423,000 from £402,000. However, adjusted loss before tax nearly doubled to £666,000, from £335,000.
GetBusy said SmartVault is positioned for accelerated growth in the second half, with accounting-focused ARR up 12% year-on-year to $15.6 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 £9.6 million.
GetBusy ended the period with £3.0 million in available funds, up from £2.2 million a year prior, and net bank debt of £40,000, compared to net cash of £178,000.
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.
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