Darktrace PLC ups forecasts again as cyber attack threat grows | #cybersecurity | #cyberattack | #hacking | #aihp

Darktrace PLC (LSE:DARK) has raised its revenue and margin estimates for this year for a second time after strong growth in customer numbers in the third quarter.

Concern about more Russia-based cyber attacks in the wake of the Ukraine war has put the spotlight on the need for greater protection and Darktrace said new customer wins had driven sales in the past three months.

Revenue growth this year will be between 45.5% and 47.0% (previously 44.5% to 46.5%), said the cybersecurity specialist, while margins will comfortably beat prior forecasts at between 15% and 17% (previously 10% to 12%).

Darktrace added that it was also increasing its guidance for annual recurring revenue (ARR), though costs are rising as it expands into the US.

“In our third quarter, we sustained strong growth trends across our customer base, ARR and revenue, as well as maintaining the gains in churn and net ARR retention rates we made in the first half of the financial year,” said chief financial officer Cathy Graham.

“Year-to-date results and a continuing positive operating outlook have led us to again increase our FY 2022 expectations across all financial and customer measures.”

The UK tech divides opinion among analysts about its potential, but the shares rose 1.2% today to 458p on the back of the update.