Cybersecurity group Darktrace PLC (LSE:DARK) raised its revenue forecast for the second time this year as companies and other organisations rush to bolster their defences against hacking attacks.
Russia’s invasion of Ukraine has sparked fears of a new cyber cold war and Darktrace said it was seeing both strong customer growth and client retention as threats mount.
Annual recurring revenue is now forecast to grow at a rate of 38.5-40% in the year to June 2022 at constant currencies, it said, against previous guidance of 37-38.5%.
Actual revenue growth will be between 44.5% and 46.5% helped also by foreign currencies moving more favourably than previously assumed.
Shares in the firm jumped 15% to 527p on the update as the price continued to recover from a short-selling attack from Shadowfall in January.
In the half-year to December 2021, revenues rose by 52% to US$192mln with underlying profits (EBITDA) up by 144% at US$34.8mln.