The number of users of document management system SmartVault reached 20,166 when the first half ended June 30, parent company GetBusy said this week. That total was up 10.1 percent over last year's first six months as the British parent reported it had also introduced the product in the United Kingdom.In discussing results for the half, CEO Daniel Rabie said churn was higher in U.K. than in the United States, but continued, ‘’we are making new sales at an increasingly predictable run rate and have been encouraged by the progress that is being made.”
SmartVault revenue for the recently ended half was about $2.5 million, up 20 percent over a year earlier, 22 percent in constant currency. Revenue for GetBusy’s other document management product, Virtual Cabinet, was approximately $5.2 million for the half, an increase in 15 percent over last year’s corresponding period, up 16 percent in constant currency. GetBusy said it had completed a mgiration from self-hosting to Amazon Web Services during the period.
The first-half loss was roughly $713,000, down 16 percent from a year earlier. Revenue so far in 2019 was roughly $7.7 million an increase of 19 percent from a year ago; 18 percent in constant currency.
The company said it had begun making initial sales of GetBusy, its namesake product, which is designed for client and staff communication.