GetBusy’s FY25 trading update shows FY25E revenue and adjusted EBITDA at least in line with our forecasts, FY25E net cash +£0.4m ahead at £0.9m due to working capital, and a robust outlook, which highlights the potential for SmartVault ARR growth to further accelerate in FY26E with a rapidly increasing EBITDA margin. FY25E constant currency revenue growth of +5% to at least £22m has been driven by +8% constant currency ARR growth to £22.6m, which reflects an acceleration in SmartVault’s ARR grow ....
