Darktrace upgrades annual revenue, margin guidance

Wed, 15th Sep 2021

Cybersecurity group Darktrace posted a deep annual owing to listing and financing costs, though it upgraded its annual revenue and margin guidance after adding more customers. Net losses for the year through June amounted to $149.6 million, compared to year-on-year losses of $28.7 million. Darktrace attributed the red ink to increased share-based payment charges and associated employer tax charges related to the IPO, and a transition to listed company compensation structures. Revenue jumped 41% to $281.3 million, driven by new customer additions at stable average contract values, it said. For the full year, Darktrace, which listed in April, said it now expected to notch revenue growth of 35-37%, up from previous guidance of 29-32%. Is adjusted earnings margin was now forecast at 2-5%, up from 1-4% previously. 'At our first full-year earnings, we are very pleased to report robust financial and operational performance, and strong growth, during the period,' chief executive Poppy Gustafsson said. 'In this new era of cyber-threat, Darktrace is helping organizations from every industry sector, including providers of critical national infrastructure, to protect their digital assets, and avoid the serious disruption that cyber-attacks can cause.' 'As the adoption of self-learning AI accelerates globally, we are also excited to be continually pushing the boundaries of innovation, extending the reach of our AI technology to new applications and use cases.' Story provided by StockMarketWire.com

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