Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I'd imagine Darktrace would want EY to audit not just this quarter, or this year but multiple years going all the way back to pre-IPO and maybe more. For that, I think 2 months is quick, I personally think it will be at least 3 months.
Mrlong, indeed it is exhausting. That's why I stop following the SP and news closely to try to block the SP from affecting my day-to-day life. Anyway, I was still upset by the SP plunge on Monday but I resisted the temptation to do any action - sell or buy. This stock has trained me to control my emotion ....
There is no need for RNS, UK and US governments have made it clear that all the deposits are safe.
Furthermore, making a statement wouldn't have helped, Wisem who did made statement, is down over 7.5% today. It is just bad sentiment against tech at the moment.
Darktrace has less than half of its business from the US, so exposure to US bank is limited. The chance that they bank with SVB is slim as Darktrace is not a startup. Also, given the ML court case, I'd imagine they won't be parking a lot of their money in the US.
It is not just because they won a big customer, there have been multi-millions dollars deal before but the names are anonymous. The fact that Royal Mint wiling to entrust the safety of £ billions of coins (well, not physically), and to vouch for Darktrace, it speaks volume.
on Linkedin
https://www.linkedin.com/feed/update/urn:li:activity:7039565760980996096/
ShortWhacker, 120K in the 80s here in the UK when average house price was under £20k? That doesn't sound possible to me.
That figure is still high even in today, you might be able to get that before the tech layoff. Now I'd say it has fallen to around £70-80k range, inline with other engineering jobs. In contrast, $200k is like the lowest the Silicon Valley, with many earning up to $500k. It is not secret, you can find the salary range information online.
OpenAI had only 375 people, yet their ChatGPT beat the behemoth Google with 500x more manpower.
Higher R&D cost does not equate higher R&D outcome. The tech layoff was partly caused by overspending in hiring. By the way, algorithm worth nothing. instead, data is the crown jewel together with people who know how to use them to train AI models. The more customers Darktrace get, and their data, the better the AI algorithm will be, and more difficult for newcomers to catch up.
This is basically a compilation UK analysts' comments, repackaged for US readers.
The consensus is that fraud allegation is pre-historic and financial insignificant. But I do agree that they need to inject new blood in the management. On several occasions, I emailed the IR, asking them to double down to hire extra auditor to prove their innocence once and for all. As usual, their response is something like "our motto is don't talk, just show".
I personally think Poppy's leadership is too weak and soft, often just bury her head in the sand. We need someone stronger, with no link to Autunomy to lead and defend the company. Unsure how the market would react to CEO stepping down but I certainly will be happy about it.
There are only 2 type of people on this board, all have their vested interest. Those who own the shares will want to SP to go up, while shorters want it to go down. People with neutral stand, or who have given up and sold up, will not bother involving in heated debates. To me, it is that simple, anyone who is tying so hard to say DT is a fraud, is hired by shortsellers.
I kind of miss the good old days where Charles was the only one spamming the board.
As a long-time shareholder, today's SP is totally expected. Darktrace has had better news before and the biggest deal fell into Q2 2023 which is the 'bad' quarter in last trading update. So, one good deal does not compensate for overall weakness in that quarter.
Most importantly, the SP rose from 25% from 200p to 250p , it is time for some to take profit, or exit at IPO price. My thought is, the SP should break out if it finishes above 250p today and tomorrow.
A note about March result.
This will be half year result which include the last trading update, therefore the growth and revenue won't be 'good'. However, the profit can still increase due to improvement in currency exchange rate or cost efficiency. The most looking forward part, at least for me, is the guidance for the rest of the year. Has the business/economy improves since the start of the year?