Darktrace sees 2021 revenue growth of at least 40%, upgrades 2022 guidance


July 15, 2021

LONDON (Reuters) -Darktrace, the British cybersecurity firm that listed in April, upgraded its guidance for 2022 on Thursday as it said revenue for the financial year just ended would grow by at least 40% to $278 million.

It said it now expected year-over-year revenue growth of between 29% and 32% (previously 27% to 30%) for the year to end-June 2022, considering normal quarterly seasonality patterns and particularly typically soft first-quarter sales.

The company said it had ended the year to June 30 with strong sales trends, including a strong June performance, but added that sales productivity could be impacted temporarily as it expands and optimises it salesforce structure.

“These efforts will begin in the first half of FY 2022 and are intended to support anticipated growth and continued scaling of its business,” it said.

Darktrace, which has seen it shares more than double since they were sold at 250 pence in the IPO to a high of 599 pence on Wednesday, said it ended its financial year with about 5,600 customers, up 42% year-on-year.

Annualized recurring revenue at end-June was at least $340 million, it said, representing year-on-year growth in constant currency of at least 44%.

(Reporting by Paul Sandle; editing by Michael Holden and Sarah Young)

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