RE: QCM reduce short4 Feb 2023 22:50
In a note, broker Jefferies, which led Darktrace's public offering, said the firm had issued a 'robust rebuttal' that answered many of Quintessential's points.
Cathy Graham's arrival as chief financial officer before its market debut had strengthened processes to ensure it had legitimate financial systems, the broker added.
As part of its listing, Darktrace reviewed contracts and did not include those that failed to come up to scratch.
These were 'small in number' and should 'give investors comfort' on its annual recurring revenue, Jefferies said.