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2026 Half-year Results Trusted SaaS Platforms Incorporating AI for Regulated Professionals September 2026 | GetBusy plc
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Medium-term Cash Returns and Long-term Value Creation Medium-term target: material cash return Returning to growth • Pre-eminent cloud document management and workflow platform • Purpose-built for the US accounting and tax preparation market • Integrations across all major US tax platforms • Sticky, strategically valuable US customer base • Strong market tailwinds • Transformative AI capabilities already in-market and being monetised • Attractive financials with excellent operating leverage • Buoyant M&A landscape • Enterprise content management for regulated professionals and ERP businesses • 30% of UK Top 100 accounting firms as clients • Deep integrations to back-office infrastructure and NetSuite - SuiteCloud Partner of the Year • New strategic partnership with TaxCalc creates excellent market access, with more in pipeline • Wórkiro Intelligence AI suite; migration from Virtual Cabinet driving +20% ARPU • 25+ years of workflow IP - proven, now cloud- native • Growing partner ecosystem for low-cost customer acquisition and high retention rates
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Strategic Control Point in the US Tax Ecosystem ARR $19.1M 22% growth Users 31,000 7,000+ firms Documents Stored 650M+ 3M+ end clients Addressable Market $2.2B US tax DMS market Integrated with all major US tax software Only platform-agnostic SOC 2 Type 2 audited cloud DMS in the market Extending across the entire tax workflow SmartRequestAI drives up to 3x subscription uplift Engage Late 2026 AI Collect Live Prep 2027 Approve Live Archive Live Pay Late 2026
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Market Position Tax Applications Lacerte, ProSeries, ProConnect, UltraTax, Drake, CCH Practice Management Financial Cents, Karbon, etc. MAINTAINED INTEGRATIONS AI-powered intake SmartVault - core DMS Infrastructural secure system of record underpinning other elements of the ecosystem Portals and billing SMARTVAULT OTHER CPA-FOCUSED DMS APPLICATIONS The only SOC 2 Type 2 audited cloud DMS built for accountants Aged architecture with inherent security risks Platform-agnostic - connects disparate applications Limited integrations AI capabilities already generating revenue Not AI-enabled Modern, consumer-grade UI Tired UI, falling behind customer expectations
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Poised for Sustained High Growth Growth Tailwinds SmartRequestAI AI-powered document gathering drives up to 3x revenue per client Intuit ProConnect Access to ~100,000 cloud-migrating tax preparers; only DMS in ProConnect UI TR FileCabinet Sunset 2027 deadline displacing thousands of firms; TR new business up 52% YoY Regulatory Pressure IRS, FTC and state-level security mandates drive firms to audited platforms Cloud Migration US firms moving on-premise to cloud at pace; SmartVault is the destination Rapid EBITDA Margin Improvement Significant Operating Leverage High-margin recurring revenue model delivers rapidly improving margins and cash generation as ARR scales AI-driven ARPU Expansion SmartRequestAI accelerates revenue per customer and increases embeddedness
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A Distinctive, Valuable Asset Infrastructure Layer Document infrastructure layer for tax suites extending AI workflows US Market Bridgehead Entry point into the US tax market for groups seeking North American scale Proprietary AI Platform Workflow intelligence and 650M+ domain-specific documents Proven Unit Economics High-retention, high- margin SaaS with attractive operating leverage Exceptional Retention ~10-year avg. tax prep customer life; 0.8% churn and 100%+ NRR in core accounting Relevant Transactions Premium ARR multiples in tax SaaS 10x ARR* January 2025 9x ARR* December 2024 10x ARR* November 2022 * Reported or estimated ARR multiples
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Wórkiro - Returning to Growth in Professional Services Today: A Solid, Stable Business Tomorrow: AI-enabled Cloud Transition 25+ Years of Workflow Expertise Deep domain knowledge in complex document workflows ~30% of Top UK Firms Leading position in UK accounting and professional services ARR £9.7m | 32,000 Users 600M documents secured across the platform Profitable, Cash Generative H1 2026 Adjusted EBITDA £1.2m Strong Heritage Virtual Cabinet reputation powers traction VC to Wórkiro Migration AI-powered platform at higher ARPU Professional Services Focus Returning to growth with strong heritage New integration partnerships to drive growth Strategic TaxCalc partnership announced; more in pipeline Higher Deal Sizes, Low Churn Materially higher ASP with strong retention Long-term Value Creation Potential to be materially larger than existing Group
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02 Financial Results H1 2026 results by segment and Group overview
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SmartVault - At an Inflection Point H1 2026 H1 2025 ARR $19,062 $15,647 Recurring revenue $9,297 $7,754 Non-recurring revenue $308 $263 Revenue $9,605 $8,017 Cost of sales ($1,987) ($1,522) Gross profit $7,618 $6,495 SG&A costs ($4,873) ($4,589) Development costs ($1,165) ($1,179) Adjusted EBITDA $1,580 $727 Headline P&L (US$'000) Key Metrics ARR $19.1m 22% growth Revenue $9.6m +20% YoY EBITDA Margin 16% $1.6m Adj. EBITDA Users 31,000 7,000+ firms ARPU $616 +21% YoY NRR 100.1% Core accounting Outlook ~20% ARR Growth (FY26) Driven by ARPU expansion and new business growth Approaching 20% EBITDA Margin (FY26) Driven by revenue growth and operating leverage H1 2026 ARR progression $17.8m $1.2m $0.2m $0.9m $0.1m $19.1m $1.1m
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Wórkiro – Returning to Growth H1 2026 H1 2025 ARR £9,673 £9,557 Recurring revenue £4,700 £4,692 Non-recurring revenue £116 £110 Revenue £4,816 £4,802 Cost of sales (£223) (£194) Gross profit £4,593 £4,608 SG&A costs (£2,504) (£2,257) Development costs (£888) (£712) Adjusted EBITDA £1,201 £1,639 Headline P&L (£'000) Key Metrics ARR £9.7m +1% YoY / +4% YTD Revenue £4.8m +0% YoY EBITDA Margin 25% £1.2m Adj. EBITDA Users 32,000 600M docs stored ARPU ~£290 Growth via migration NRR 100.1% H1 2025: 99.7% Outlook Building Momentum New business, Virtual Cabinet migrations and the TaxCalc partnership driving a return to growth Long-term Value Huge document corpus and enterprise clients enable significant AI-powered growth H1 2026 ARR progression £9.3m £0.2m £0.1m £0.2m £0.0m £0.1m £9.7m £0.4m
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Group – Investing for Scale & Momentum Group P&L (£'000) H1 2026 H1 2025 Change ARR £23,985 £21,098 +14% Revenue £11,960 £10,994 +9% Cost of sales (£1,702) (£1,370) Gross profit £10,258 £9,624 +7% SG&A costs (£6,127) (£5,803) +6% Development costs* (£1,747) (£1,644) +6% Corporate costs (£1,791) (£1,755) +2% Adjusted EBITDA £593 £423 +40% Key Metrics *Net of capitalisation Available cash funds £2.3m ARR £24.0m ARR growth (cc) 12% Net revenue retention 100.1% Paying users 63k Unique documents 1.3bn Guest users 4m Annual e-signatures c.2.8m Available cash funds bridge £3.8m £0.6m £2.3m £0.6m £0.2m £1.1m £0.0m £0.2m
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Summary and Outlook 2 Strategic Control Point in US Tax Embedded across all major platforms with accelerating growth and powerful AI-driven tailwinds 3 AI Strengthens Our Value Trusted infrastructure and proprietary data make us the delivery and knowledge layer for AI in regulated professions 4 Clear Pathway to Cash Returns Operating leverage and rapid margin expansion drive significant future cash generation in SmartVault 5 Wórkiro Builds Long-term Value 25 years of workflow IP deployed into a substantially larger professional services and enterprise market 6 Well-funded and Executing with Confidence Available cash funds of £2.3m, a committed £3m credit facility to December 2028, and a strategy delivering results 1 Upgraded ARR expectations for 2026 and 2027 Accelerating growth in SmartVault upgrades group expectations
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