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By Christian Moess Laursen
GetBusy said its pretax loss narrowed in the first half of the year, driven by strong revenue, and that it expects full-year performance in line with market views.
The developer of document-management and productivity software said Tuesday that its pretax loss narrowed to 782,000 pounds ($987,510) in the first half-year from a loss of GBP879,000 in the prior-year period.
Adjusted pretax loss–which strips out exceptional and other one-offs–narrowed to GBP603,000 from GBP724,000 a year prior.
Revenue grew to GBP10.5 million from GBP9.1 million, with recurring revenue rising 16% at constant currency to GBP10.1 million. Revenue in the U.K. rose 23% to GBP3.9 million, while climbing 14% in the U.S. to GBP5.2 million, both at constant currency.
Adjusted earnings before interest, taxes, depreciation and amortization jumped to GBP164,000 from GBP24,000.
Looking ahead, the company’s underlying performance continues to be in line with market forecasts of GBP21.1 million in full-year revenue and GBP700,000 in adjusted Ebitda, according to a company-provided forecast.
“Our core markets remain robust, driven by structural changes in the way people work and a strengthening mandate for security and productivity optimization,” GetBusy said.
Write to Christian Moess Laursen at [email protected]
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