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Darktrace shares surge on strong revenue growth

Darktrace (LSE: DARK) shares surged over 8% on Thursday after the cybersecurity firm reported strong revenue growth and raised its full-year guidance. For the third quarter ended March 31, Darktrace’s annualised recurring revenue (ARR) climbed …

Darktrace (LSE: DARK) shares surged over 8% on Thursday after the cybersecurity firm reported strong revenue growth and raised its full-year guidance.

For the third quarter ended March 31, Darktrace’s annualised recurring revenue (ARR) climbed 24% to $731.1 million, exceeding analyst expectations. Revenue for the quarter also jumped 24% to $176.1 million.

The company attributed the strong performance to successful go-to-market changes implemented earlier in the fiscal year. These changes are expected to continue driving growth throughout the remainder of the year.

As a result, Darktrace increased its full-year revenue growth forecast to at least 25.5%, up from its previous guidance of 23.5%. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) margin is also expected to be higher, at least 23% compared to the prior range of 21%.

Darktrace’s CFO, Cathy Graham, credits go-to-market changes for strong financial performance and increasing momentum.

The positive news comes on the heels of a strong year for Darktrace. The company’s share price is up 36% year-to-date and a staggering 92% over the past year.


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