Darktrace (DARK)

Sector:

IT Services

Index:

FTSE 250

433.50p
   
  • Change Today:
      5.50p
  • 52 Week High: 490.40
  • 52 Week Low: 239.30
  • Currency: UK Pounds
  • Shares Issued: 700.36m
  • Volume: 150,610
  • Market Cap: £3,036.06m

Darktrace lowers FY revenue forecasts as customers spurn trials

By Frank Prenesti

Date: Wednesday 11 Jan 2023

LONDON (ShareCast) - (Sharecast News) - UK cybersecurity company Darktrace lowered annual revenue forecasts as potential customers balked at trialling the company's products amid the tougher macro-economic environment.
The company on Wednesday said it now expected its constant currency annual recurring revenue to increase by 29-31.5% in the year to June 30, down from a previous forecast of 31-34%.

"Clearly... the current macro-economic environment is creating challenges to winning new customers, with prospects more reluctant to run product trials and, in regions with historically higher conversion rates, those rates starting to decline," said chief executive Cathy Graham.

The company added that foreign exchange headwinds present early in the financial year had largely reversed, allowing it to moderate the reduction in revenue expectations.

Based on this partial offset to lower ARR growth expectations for full-year 2023, Darktrace is now expecting year-over-year revenue growth of between 29.5-31% from a previous 30-33%.

Darktrace also said it had appointed Denise Walter as chief revenue officer who was vice-president of sales at US firm VMware.

Reporting by Frank Prenesti for Sharecast.com

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Darktrace Market Data

Currency UK Pounds
Share Price 433.50p
Change Today 5.50p
% Change 1.29 %
52 Week High 490.40
52 Week Low 239.30
Volume 150,610
Shares Issued 700.36m
Market Cap £3,036.06m

Darktrace Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
87.27% below the market average87.27% below the market average87.27% below the market average87.27% below the market average87.27% below the market average
61.9% below the sector average61.9% below the sector average61.9% below the sector average61.9% below the sector average61.9% below the sector average
Price Trend
57.83% above the market average57.83% above the market average57.83% above the market average57.83% above the market average57.83% above the market average
51.06% above the sector average51.06% above the sector average51.06% above the sector average51.06% above the sector average51.06% above the sector average
Income Not Available
Growth
80.00% above the market average80.00% above the market average80.00% above the market average80.00% above the market average80.00% above the market average
75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average

Darktrace Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
11:25 3 @ 434.50p
11:24 2 @ 434.50p
11:23 141 @ 433.50p
11:23 358 @ 433.60p
11:23 764 @ 433.60p

Darktrace Key Personnel

CEO Poppy Gustafsson
CFO Catherine Graham

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