GetBusy PLC on Wednesday reported a double-digit revenue increase and a narrowed loss for 2022 as it eyes further growth.

GetBusy is a Cambridge, England-based professional and financial services productivity software provider.

For 2022, revenue rose 25% to £19.3 million from £15.4 million a year ago. Pretax loss narrowed to £543,000 from £2.3 million.

Annual recurring revenue grew 22% to £19.2 million from £15.8 million a year ago. Recurring revenue increased by 27% to £18.3 million from £14.3 million.

In particular, US recurring revenue growth was strongest in the year, up 55% to £9.5 million from £6.1 million a year ago.

GetBusy reported positive earnings before interest, tax, depreciation and amortisation of £692,000, compared to Ebitda loss of £510,000.

The noted a slight increase in paying users to 75,058 from 73,352 a year ago.

Chief Executive Officer Daniel Rabie said: ‘2022 was another fantastic year with 25% revenue growth, strong, double-digit ARR growth and our first adjusted Ebitda-positive period, leading to a third consecutive year of cash generation.’

Looking ahead, GetBusy noted a strong start to 2023, expecting sustained double-digit ARR growth.

Rabie added: ‘Moving into 2023 we plan to capitalise further on these valuable market opportunities through sustained investment in customer acquisition across the group as we enter the next exciting phase of our scaling journey.’

Shares were down 6.8% at 73.20 pence each on Wednesday morning in London.

Copyright 2023 Alliance News Ltd. All Rights Reserved.