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GetBusy – interims argue cash position “remains strong”. Er, does it?…

Previously writing on company which describes itself as “a leading provider of productivity software for professional and financial services” GetBusy plc (GETB), in December with the shares up to 62p I concluded that I’d want more cash flow and balance sheet comfort. The shares most recently closed at 79p, but what of them currently falling back well below 70p on the back of half-year results?

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GetBusy – ‘ahead of expectations’…but how demanding is that?

Describing itself as “a leading provider of productivity software for professional and financial services”, GetBusy plc (GETB) has issued a trading update including “revenue for 2022 is expected to grow by 24% to at least £19.1m (2021: £15.5m), around 4% ahead of the previously upgraded market expectations… Net cash at 30 November 2022 was £2.2m and the group's £2m debt facility remains entirely undrawn… tailwinds of digital transformation, cyber security, privacy legislation and hybrid working”. So what of a current share price response up 4.2% to 62p?

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GetBusy (#GETB) – expects FY “slightly ahead of market expectations”, but still even an adjusted loss

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GetBusy (#GETB) – £2m loan facility with Silicon Valley Bank though argues “robust” trading, hmmm

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GetBusy (#GETB) – argues its subscription model “inherently resilient”, though “naturally expect disruption to the appetite of some prospective customers”

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GetBusy (#GETB) – “not aware of any reason” for the recent share price jump

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GetBusy (#GETB) raises £3m at 28.3p and joins AIM casino with £13.7m market cap - good luck chaps