Cybersecurity group Darktrace has increased its full-year outlook for the second time in three months, reflecting strong customer growth and retention.
The firm, which listed in April last year, now expects a year-on-year boost in constant currency annualised recurring revenue in 2022 of between 38.5 per cent and 40 per cent, against previous guidance of 37 per cent to 38.5 per cent.
That implies a year-on-year increase in net constant currency annualised recurring revenue of between 24 per cent and 29 per cent, against previous forecasts of between 19 per cent to 24 per cent.
rose sharply today, and were up 10.87 per cent or 50.00p to 510.00p this afternoon.
Boost: Cybersecurity group Darktrace has increased its full-year outlook
Chief executive Poppy Gustafsson, said: ‘The current geopolitical situation has heightened the urgency for businesses and governments to improve cyber resilience.
‘We are laser-focused on our mission to protect organisations around the world from cyber-attacks, and on our ambition to create a continuous AI loop for our customers.’
Revenue growth was forecast at between 44.5 per cent and 46.5 per cent, against 42 per cent to 44 per cent previously.
This increase is also partly driven by lower than previously predicted forecasts for 크리에이티브 연구소 foreign exchange headwinds, which accelerates the conversion of constant currency ARR to US dollar denominated revenue.
Darktrace has incorporated the expected impact of its recent purchase of Cybersprint into its guidance.
Full year adjusted earnings before interest, tax, depreciation and amortisation margin was forecast at between 10 per cent and 12 per cent, up from 3 per cent to 6 per cent previously.
In the six months to 31 December, the group’s adjusted EBITDA more than doubled to $46.7million on revenue up 52.3 per cent to $192.6million.
The group saw strong revenue growth across all geographic markets and customer sizes.Its customer base swelled nearly 40 per cent to 6,531.
It warned that costs were expected to increase again in the medium term but the outlook was strong enough to retain healthy margins across the firm.
At the top: Poppy Gustafsson is the chief executive of Darktrace
Dan Lane, a senior analyst at Freetrade, said: ‘Consistency is key now for Darktrace.Earnings and customer numbers might be booming compared to December 2020 but costs will come back eventually as salespeople jet round the globe and showcase the cyber defence tech.
‘That’s to be expected but what needs to more than offset that is the steady stream of new and returning customers.On that front, there will clearly be renewed interest.
‘If the cyber threat from hacker-heavy aggressors wasn’t already factored into corporate and government spending, the past few weeks will have put it firmly on the table.’
Darktrace was founded in Cambridge nine years ago by a group of ex spies from GCHQ, mathematicians and artificial intelligence experts.
Within months of its flotation on the London Stock Exchange last April, 크리에이티브 연구소 the group’s market value hit nearly £7billion. But, it has since endured a turbulent period, 크리에이티브 연구소 and was relegated from the FTSE 100 to the FTSE 250 Index.
In January, Darktrace shares fell following reports it had come under attack from short seller ShadowFall.
The hedge fund bet against Darktrace in October and labelled the cybersecurity giant as ‘watery thin’ in a note.
ShadowFall said: ‘We believe that the quality of the Darktrace business is watery-thin, driven by an aggressive, promotional, sales focus, which we doubt will stand the test of time.’
Last month, British tech tycoon Mike Lynch resigned as an adviser to Darktrace. He stepped down from Darktrace’s science and 크리에이티브 연구소 technology committee a week after Home Secretary Priti Patel ordered the former Autonomy boss’s US extradition to face criminal charges.