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Wednesday 15 September 2021

Darktrace ups guidance

LogoRecently IPOed Darktrace has posted an impressive set of FY21 results. Confirming the performance outlined in its July trading update (see here), the Cambridge-based cyber security company saw turnover for the twelve months ending 30th June increase by 41% yoy to $281m with improvements evident in all geographic markets and contract sizes. Adjusted EBITDA for the period more than doubled against the prior year to $29.7m

Growth in Annual Recurring Revenue (ARR) and customer numbers was faster still. Both indicators rose by over 45% yoy. At the end of the financial year ARR stood at $344m in constant currency with the client list having swollen to over 5600 organisations.

The increase in business momentum noted in H221 is reported to have carried through into the current financial year.  Darktrace now expects FY22 yoy revenue growth of between 35% and 37% (previously 29% to 32%), driven by a yoy increase in constant currency ARR of between 34% and 36% (previously 32% to 34%).

The company has seen its share price jump by over 150% since its flotation on the London Stock Exchange last April and earlier this month it was announced that Darktrace is to join the FTSE 250 (see here). It has been a more than promising start to life as a publicly quoted company for this UK tech success story.

Posted by: Duncan Aitchison at 09:54

Tags: results   cybersecurity  

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