13th Apr 2022 10:57
(Alliance News) - Darktrace PLC said on Wednesday it continued to deliver a strong sales performance in the third quarter of its financial year which ends June 30 and as result raised its outlook.
The Cambridge-based cyber security company added 359 net new customers in the third quarter, bringing its customer base at the end of the quarter to 6,890. This reflected growth of 37.3% against the previous year.
Darktrace explained that new customer additions are the primary driver of constant currency annualised recurring revenue. This figure stood at USD462.6 million at March 31, up 46% on the previous year.
Revenue for the penultimate quarter was USD109.8 million, bringing revenue for the nine months to March 31 to USD302.4 million. This reflected growth of 50% and 52% over the comparable periods a year prior, respectively.
Given continued positive sales momentum, Darktrace said it is increasing its financial 2022 guidance. It now expects ARR growth between 40.0% and 41.5%, up from a range of 38.5% to 40.0% previously.
For revenue, Darktrace is narrowing its expected range. Revenue growth is now expected between 45.5% and 47.0%, narrowed from 44.5% to 46.5% previously.
Chief Executive Cathy Graham said: "In our third quarter, we sustained strong growth trends across our customer base, ARR and revenue, as well as maintaining the gains in churn and net ARR retention rates we made in the first half of the financial year. Year-to-date results and a continuing positive operating outlook have led us to again increase our financial 2022 expectations across all financial and customer measures."
Shares in Darktrace were down 2.2% at 442.60 pence on Wednesday morning in London.
By Heather Rydings; [email protected]
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