Curreen Capital Partners, LP on GetBusy
Thesis
GetBusy provides online document exchange systems, primarily for accountants, and has continued growing since its 2017 spinoff from Reckon. The reported company is currently loss-making because it is deliberately investing through elevated expenses to expand existing businesses and launch new products. Curreen believes the underlying U.K. and U.S. operations are profitable and sustainable. The investment therefore reflects a view that current accounting losses understate the quality of the core businesses.
“The underlying businesses are profitable and sustainable in the U.K. and U.S.”
Key risks
- The company currently does not report profits.
- Investment in growth and new products may not generate adequate returns.