Darktrace PLC (LSE:DARK) provided a positive trading update for its fourth quarter and full financial year and said it expects revenue, customer numbers and EBITDA margins to grow.
For the full year to 30 June, sales are flagged to grew by about 48% to US$417mln compared with the previous year, while the adjusted EBITDA margin should be no less than 19.5% - exceeding its prior guidance range.
The global leader in cyber security artificial intelligence (AI) added over 500 net new customers in the fourth quarter, a 32% jump year-over-year.
Annualised recurring revenue at full-year constant currency rates will be at least US$513mln - representing 42% year-over-year growth.
"We are delighted to report strong operating and financial performance for FY2022, where we saw demand for our products continuing to grow as organisations seek to protect themselves from growing cyber threats," Poppy Gustafsson, chief executive, said.
“We expect this business momentum to continue into FY 2023 as against a turbulent geopolitical background, it's no surprise that long-term cyber risk is an even higher priority for chief information and security officers and senior executives.”
Darktrace predicted strong revenue growth and an adjusted EBITDA margin for the full year 2023 but said the strong sales trends exiting FY 2022 must be balanced against the uncertainties inherent in the current global economic environment.
Meanwhile, Darktrace also launched its new ‘PREVENT’ product on Tuesday, which will expand its product offering and continue the delivery of the industry’s first cyber AI loop.
PREVENT is an interconnected set of AI products that deliver a proactive cyber security capability to help organisations pre-empt future cyber-attacks, it said in a company statement.
Additionally, David Walden joined the company as chief people officer, with Carolyn Esser taking up the corporate affairs officer role. It also announced chief product officer Dave Palmer will be leaving at the end of August.
Darktrace intends to report its FY 2022 results on September 8.