Kape Technologies PLC - Isle of Man-based digital security and privacy software provider - Says revenue rose for the first half of 2022 due to strong organic growth with demand for privacy and security products on the rise. For the six months to June 30, it expects to report revenue around USD301.6 million, compared with USD95.5 million a year earlier, of which more than 89% was recurring revenue. Pro forma adjusted earnings before interest, tax, depreciation and amortization is expected to be around USD88.5 million, compared with USD28.7 million, it says. The board said it remains confident of delivering revenue in the range of USD610 million to USD624 million and pro forma adjusted Ebitda of between USD166 million to USD172 million for the year.
"Kape has made a strong start to 2022, delivering on our organic growth ambitions and, more importantly, servicing 7 million customers who choose to use our products. This has been our strongest H1 to-date, having delivered six consecutive years of growth and, with the integration of ExpressVPN progressing to plan, we are ideally placed to further capitalise on this rapidly growing market," says Chief Executive Officer Ido Erlichman.
Current stock price: 287.50 pence
12-month change: down 3.2%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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