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All huge cloud companies make a loss first few years so didn’t surprise me

Cloudstrike still loss making

Might get sone more at 680 as when US comes online for 1pm call & new ratings this could easily rally back to mid 700s by close

Coverage in US

https://californianewstimes.com/maiden-results-from-darktrace-beat-expectations/523757/

https://www.standard.co.uk/business/darktrace-2021-results-cyber-security-ftse-100-ipo-revenue-losses-customer-numbers-poppy-gustafsson-b955354.html

https://www.ft.com/content/fbb88e4a-4e2c-47e2-a02e-a173c2baeffd

https://www.cityam.com/darktrace-hikes-revenue-forecasts-after-punchy-start-to-listed-life/

https://www.proactiveinvestors.co.uk/companies/news/960373/darktrace-hikes-forecasts-as-customer-base-continues-to-grow-960373.html

https://californianewstimes.com/maiden-results-from-darktrace-beat-expectations/523757/

Tune in & listen as Analyst ratings will follow this

Analyst and investor webcast with CEO, CFO, and Director of Products at 1pm UK:

https://www.lsegissuerservices.com/spark/DARKTRACE/events/7f8eefd2-f3de-47f0-bcec-931e9d466ff5

At last the U.K. has nurtured a great Cloud Tech Stock that will soon be a flagship of the FTSE100 showing the U.K. can innovate in technology

And let’s not forget, Crowdstrike with their huge valuation still made a $57.3 million loss

We will have the profit takers sell off for a while but strong buying also & those ratings will help

The analyst ratings later will give this a boost to

L2 buy side looking good pre open

Looking forward to the analyst ratings later

At a SP of 638.50 the Market Cap is £4.45B ($6.1B)

In Customer Relationship Management (CRM) the big boys all bought Siebel etc & IBM, Oracle & Microsoft have big offering but Salesforce still thrived as an independent cloud leader now with a Market Cap of $224B

In Human Resource Management the big boys bought PeopleSoft etc & again all the big players have offerings but Workday still thrived as an independent cloud leader now with a Market Cap of $57B

In a commoditised Single Sign On security space, again big boys like Microsoft, Oracle & Salesforce have solutions but Okta is thriving as a breakout cloud specialist, valued at $31B & growing

Recently Norton announced buying Avast for $8B as they try to firm up offerings in the space. Analysts say that was cheap!

Darktrace main competitors such as Crowdstrike are valued @ $58.7B with circ $1.34B ARR over 9,900 customers and has just entered Nasdaq 100!

Dark NOW has 5,605 customers, having grown its customer base by 45.3% year-on-year with Annualized Recurring Revenue (ARR) of 357.3 million outlook, which represents year-over-year growth in constant currency ARR of at least 45.7%. Currently valued @ $4.45B

The total addressable market (TAM) for Darktrace is $28 billion and by 2024, $40 billion so a lot to go around.

Seems VERY undervalued

Loss is higher but that’s totally normal in any cloud startup - same for Salesforce, Workday, Okta etc

More to come today incl Analyst ratings

Video by CEO & CFO discussing results available here at 7:30am UK time: https://www.lsegissuerservices.com/spark/DARKTRACE/events/7f88409f-1e56-4e9e-8e48-a9fca7b2db08

Analyst and investor webcast with CEO, CFO, and Director of Products at 1pm UK: https://www.lsegissuerservices.com/spark/DARKTRACE/events/7f8eefd2-f3de-47f0-bcec-931e9d466ff5

Annual Report will be available on the investor website https://ir.darktrace.com/

Impressive customer growth 45.3%

From 3,858 to 5,605

Everything on these results is superb!

LSE version

https://www.lse.co.uk/rns/DARK/final-results-oz7tl4u6wn6sqq1.html

What an uplift in outlook

Darktrace is increasing its expectations for FY 2022 from those presented with its FY 2021 trading update. 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 is balancing this momentum with potential temporary sales productivity impacts that may occur as it evolves ways to expand and optimise its salesforce structure. These efforts will begin in the second quarter of FY 2022 and are intended to support anticipated growth and continued scaling of its business.

Darktrace now expects year-on-year revenue growth of between 35% and 37% (previously 29% to 32%), driven by a year-over year increase in constant currency ARR of between 34% and 36% (previously 32% to 34%). This constant currency ARR growth implies a year-on-year increase in net constant currency ARR added of between 12% and 14% for FY 2022, which should be distributed according to the Group's normal quarterly seasonality patterns, including typically softer first-quarter sales relative to later periods.

Darktrace also now expects that approximately 45% to 46% of both its revenue and net constant currency ARR added will be recognised in the first half of FY 2022.

Increased outlook yes!

41.3% year-on-year revenue growth
45.3% year-on-year growth in customer base
Increasing expectations for FY 2022

https://www.londonstockexchange.com/news-article/DARK/final-results/15135278