Darktrace, a leading cybersecurity company, has announced impressive growth in the first half of the year and has raised its revenue and earnings margin guidance accordingly.
Robust Financial Performance
Darktrace expects to achieve revenue of at least $329.6 million for the six months ended December 31, reflecting a year-on-year growth rate of 27%. With recurring revenue expected to reach at least $701.7 million annually, the company anticipates a growth rate of 24% compared to the previous year.
Raised Full-Year Expectations
Due to outstanding first-half results and significant progress in the second quarter, Darktrace has increased its full-year revenue growth expectations to a range of 23.0% to 24.5%, up from the previous range of 22.0% to 23.5%. Additionally, the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin guidance has been revised to 18.0% to 20.0% from 17.0% to 19.0%.
Revised Revenue Growth Projection
Darktrace has narrowed its guidance range for on-year constant currency annualized recurring revenue growth to 21.5% to 23.0%, compared to the previous range of 21.0% to 23.0%.
Positive Impact of Go-to-Market Changes
Cathy Graham, Chief Financial Officer of Darktrace, expressed satisfaction with the improved financial performance in the second quarter following the implementation of significant Go-to-Market changes. These changes have proven beneficial and have contributed to the company’s strong financial results.
Darktrace continues to demonstrate its commitment to delivering exceptional cybersecurity solutions and expects to achieve continued growth throughout the year.