15th Jul 2021 10:22
(Alliance News) - Darktrace PLC has raised its annual outlook following a strong year of trading and rising customer numbers, it said on Thursday.
The cybersecurity firm expects to report revenue for the financial year ended June 30 of at least USD278 million, up 40% year-on-year.
The promising results led to Darktrace upping its financial year 2022 guidance to year-over-year revenue growth of between 29% and 32%, up from 27% to 30% previously. The new forecast would give annual revenue of around GBP361 million.
Darktrace shares were up 8.8% at 628.36 pence each in London on Thursday morning, comfortably more than double the 250p initial public offering price, and valuing the company at GBP4.41 billion.
The UK tech startup floated back in April and provides cybersecurity services to businesses using artificial intelligence.
Darktrace ended the year with around 5,600 customers, having grown its customer base by 42% from the previous year.
"We are pleased to report strong operating and financial performance for financial year 2021. Demand for our self-learning AI solutions is robust, as advanced cyber-attacks continue to outpace the human capability of security teams," commented Chief Executive Poppy Gustafsson.
Looking ahead, Darktrace said it is balancing strong recent sales trends with potential sales productivity impacts as it "evolves ways to expand and optimise its salesforce structure". The efforts will begin in the first half of financial year 2022 and are intended to support the continued growth of the business, Darktrace states.
By Will Paige; [email protected]
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