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(Alliance News) - Darktrace PLC on Wednesday said profit jumped as revenue rose by a third in a "robust" financial 2024.
The Cambridge-based cybersecurity company reported that revenue grew 31% to USD545.4 million in the year ended June 30, from USD415.5 million the year prior. The firm said the revenue increase was boosted by multi-year contracts and its flexible cost structure.
The firm said pretax profit was USD41.0 million, multiplying from USD5.3 million the year prior. The firm noted that finance income grew to USD8.0 million, from USD518,000 a year ago.
The company did not declare a dividend for financial 2023.
Looking ahead, the firm upped its financial 2024 adjusted earnings before interest, tax, depreciation and amortisation guidance to growth between 22% and 24%, from at or around 22% in July. In financial 2023, adjusted Ebitda was USD139.2 million, growing 52% from USD91.4 million.
Chief Executive Poppy Gustafsson said: "Our financial performance for the year has been robust, delivering on growth and demonstrating the underlying strength of the business model, all whilst continuing to invest in the business.
"All the investments we have made in FY 2023 have laid the foundations for our next phase of growth and our resilient business model means that we have the resources to support these ongoing investments as we continue to scale the business."
Darktrace shares fell 2.8% to 359.00 pence each on Wednesday morning in London.
By Harvey Dorset, Alliance News reporter
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