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Darktrace expects yearly revenue growth amid strong quarterly results

13th Apr 2023 10:06

(Alliance News) - Darktrace PLC said on Thursday it saw "robust" growth in revenue and annual recurring revenue for the third quarter of its financial year.

The Cambridge, England-based company, focused on cyber-defence, said its revenue for the third quarter to March 31 was USD139.2 million, up 28% from USD109.8 million a year prior.

Darktrace said its annual recurring revenue was USD583.6 million, a 34% increase in constant currency from a year earlier.

The company's earnings before interest, taxes, depreciation, and amortisation margin for the third quarter of financial 2023 was at or above the top end of its previously stated 16% to 18.5% yearly guidance range, Darktrace said.

Looking ahead, the company said the macroeconomic environment continues to have a "significant impact" on new customer additions and related ARR growth.

However, Darktrace expects an increase in ARR for 2023 of around 29%, as well as revenue growth of approximately 31%. The company also upped its expectations for its full-year adjusted Ebidta margin to be around 19%.

Chief Financial Officer Cathy Graham said: "With strong margins, a significant cash position and ongoing operating cash generation, we intend to continue making smart investments in our future product pipeline, go-to-market strategy, and business foundations."

Shares were up 1.9% at 247.60 pence in London on Thursday morning.

By Sabrina Penty; Alliance News reporter

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