Darktrace PLC (LSE:DARK) shares tumbled after the cybersecurity company warned it expects slower revenue growth, blaming the impact of "macro-economic uncertainty" on new customer uptake.
The guidance was based on recent trends and expectations that these will continue through the second half of its financial year.
For the first six months to end-December, it expects annual recurring revenue (ARR) of at least US$556.3mln, up 36.5% on this time a year earlier, but hit by a "noticeable late second quarter slowdown in new customer additions".
However, the FTSE 250-listed company raised its underlying profit margin guidance as it "expects to be able to continue to operate efficiently" and still invest to support future growth.
The shares were down 13% at 254.4p after just over an hour's trading.