Darktrace, the Anglo-American IT company specializing in cyber defense, has increased its forecast for revenue growth for the full year 2022.
The company said recent currency headwinds were weaker than expected and as a result Darktrace expects “year-over-year revenue growth of between 37% and 39% (previously 35% to 37%) “, with 47% to 48% of the annual turnover recorded in the first half of the year.
Bright perspectives for Darktrace
A global leader in cybersecurity AI, Darktrace also saw an increase in its customer base, which grew 42.7% year-over-year.
The company announced an increase in its annualized recurring revenue (ARR) for the first quarter of fiscal 2022, which stood at $ 24.1 million (Â£ 17.7 million), up from 63, 8% compared to the same period last year. The main driver of this increase has been the return of sales exhausted by the economic effects of the pandemic.
Revenue for the first quarter of fiscal 2022 was $ 93.1 million, up 50.8% from the same period last year.
Darktrace has been on a positive trajectory since its inception on the stock market in April. The group, which launched one of the most successful initial public offerings (IPOs) of the year, has seen its shares rise by more than 100% since its IPO and on the day it went public, its share price. stock market has climbed almost 40%.
Cathy Graham, Chief Financial Officer of Darktrace, said: âWe continued our strong performance in the first quarter of fiscal 2022, increasing our customer base, ARR and revenues. We remain focused on empowering organizations to disrupt cyber threats, before they experience business disruption, using our cutting edge self-learning AI technology. “
FY 2022 updated
“Looking ahead, we have reiterated the forecast for FY2022 for ARR, added net ARR and adjusted EBITDA [earnings before interest, taxes, depreciation, and amortisation] margin, while improving forecast revenue growth due to a weaker-than-expected impact of currency headwinds in the first quarter, âGraham added.
Darktrace’s share price rose 0.30% to 843.50p in morning trading today.
Read more: Cyber ââsecurity firm Darktrace increases revenue forecast
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