DJ Darktrace Books Widened FY 2021 Loss, Raises FY 2022 Guidance
2021 Dow Jones & Company, Inc.
By Jaime Llinares Taboada
Darktrace PLC on Wednesday reported a widened loss for fiscal 2021, reflecting non-cash costs, and raised guidance for the current period.
The cybersecurity artificial-intelligence company booked a net loss of $149.6 million for the year ended June 30, compared with a $28.7-million loss a year earlier.
Financing costs jumped to $109.2 million from $2.4 million due to the issue of convertible loan notes to certain shareholders in July 2020.
However, Darktrace said that it moved to positive cash flow before financing activities in the period, and that its adjusted earnings before interest, taxes, depreciation and amortization more than tripled at $29.7 million.
In addition, Darktrace raised its expectations for fiscal 2022. It now expects revenue growth of 35%-37% and an adjusted Ebitda margin of 2%-5%. This is up from previous expectations of 29%-32% and 1%-4%, respectively.
"The group has now confirmed strong sales trends exiting the second half of FY 2021, including a particularly strong June performance, and has seen early FY 2022 sales performance towards the upper end of its expectations," it said.
Write to Jaime Llinares Taboada at firstname.lastname@example.org; @JaimeLlinaresT
(END) Dow Jones Newswires
September 15, 2021 02:31 ET (06:31 GMT)
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