Greg Price to Join essensys PLC as CFO Amid Strategic Leadership Shift

essensys PLC, a leading global provider of software and technology solutions for the flexible workspace industry, has announced the appointment of Greg Price as its new Chief Financial Officer (CFO), effective October 14, 2024. Price will also join the company’s Board of Directors, succeeding Sarah Harvey, who stepped down from her role on August 1, 2024.

Greg Price brings over two decades of experience in senior financial roles across various industries. He joins essensys from Checkit plc, an AIM-listed software and technology firm, where he has served as CFO since 2021. Prior to his tenure at Checkit, Price held the CFO position at Cargo Logic Air and occupied senior financial roles at prominent companies such as Diageo, Monarch, and The AA. He is a Chartered Accountant, underscoring his extensive expertise in financial management.

Jon Lee, Non-Executive Chairman of essensys, expressed confidence in Price’s appointment, stating, “Greg brings a deep understanding of SaaS businesses, digital transformation, and the delivery of customer experience, as well as good knowledge of UK public markets. He will be a fantastic addition to the team, and I am looking forward to working closely with him.”

The leadership transition occurs as essensys reports positive financial indicators for the fiscal year ending July 31, 2024. The company anticipates revenue of £24 million, slightly down from £25.3 million the previous year, but projects a significantly reduced adjusted EBITDA loss of no more than £900,000, compared to a £6.1 million loss in FY23. Additionally, essensys reports a cash balance of £3.1 million at year-end, bolstered by improved profitability and an £800,000 R&D tax credit for FY22.

essensys has also completed the transition of all customers from its legacy product, Connect, to its pure-play SaaS offering, the essensys Platform. This move aligns with the company’s strategy to enhance digital capabilities and deliver seamless occupier experiences in the evolving real estate landscape. The recent launch of the essensys Platform Intelligence Engine further supports this initiative by providing advanced data and insights to meet growing customer demand.

Mark Furness, CEO of essensys, commented on the company’s direction, noting, “Whilst market conditions remain challenging, with continued pressure on capex budgets, our evolved proposition and ability to deploy essensys Platform over existing networks is helping to lower entry costs for our customers. The recent release of our latest addition to essensys Platform, Intelligence Engine, is helping to further differentiate our offer and meet growing customer demand for data and insight.”

Founded in 2006 and listed on the AIM market of the London Stock Exchange since 2019, essensys operates across the UK, Europe, North America, and the Asia-Pacific region. The company’s focus on delivering flexible, digitally-enabled spaces positions it to address the dynamic needs of the modern real estate industry.