30 Jul 2019 07:00
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014
30 July 2019
Kape Technologies plc
("Kape" or the "Group")
Trading Update and Notice of Results
Kape (AIM: KAPE), a leading, global cybersecurity SaaS business, provides an update on trading for the six months ended 30 June 2019.
The Group continued to trade strongly through the first half, underpinned by Kape's focussed customer acquisition strategy and new product initiatives. Accordingly, the Board is pleased to confirm that results are expected to be in line with management expectations.
H1 2019 revenue is expected to be c.$29.6 million (H1 2018: $24.1 million from continued operations), representing an increase of 23.9% driven by growth in sales of Kape's suite of digital privacy products, with all revenues collected in advance and recognised along the contract period. H1 2019 Adjusted EBITDA1 is expected to be c. $5.8 million (H1 2018: $4.1 million from continued operations), up 40.2%.
R&D remains a central focus for the Group, with the mission to support Kape's customers' widening digital privacy requirements. Kape's end-market continues to experience strong growth, complemented by the new ZenMate solutions introduced in the period. The Group's technology also exposed two new high-profile macOS malware security threats through its endpoint security solution, both of which Kape users are now fully protected against, providing further validation of the Group's brand and broad privacy and security capabilities.
The Group expects to report its interim results for the six months ended 30 June 2019 on the 17 September 2019.
Ido Erlichman, Chief Executive Officer of Kape, commented:
"We continued our rapid progress into 2019, with high double-digit growth in Adjusted EBITDA coupled with the increased importance of our products to our customer's digital lives and a broadening of our R&D capabilities. The Group is better placed than ever to take market share and generate significant ongoing value for all stakeholders. We remain confident that our ongoing investment in people and products will continue to ensure Kape remains at the forefront of the burgeoning digital privacy and security arena."
1 Adjusted EBITDA is a non-GAAP measure and a company specific measure which excludes other operating income and expenses which are considered to be one off and non-recurring in nature.
2Calculated as expected revenues from first renewal of the existing user base in addition to the deferred revenue balance
Enquiries:
Kape Technologies plc Ido Erlichman, Chief Executive Officer Moran Laufer, Chief Financial Officer
| via Vigo Communications |
Shore Capital (Nominated Adviser & Broker) Mark Percy / Toby Gibbs / James Thomas
| +44 (0)20 7408 4090 |
N+1 Singer (Joint Broker) Tom Salvesen (Corporate Broking)
| +44 (0) 20 7496 3000 |
Vigo Communications (Financial Public Relations) Jeremy Garcia / Antonia Pollock kape@vigocomms.com | +44 (0)20 7390 0237 |
About Kape
Kape is a cybersecurity company focused on helping consumers around the world to have better experience and protection in their digital life. Kape develops and distributes a variety of digital products in the online security space. The Group utilises its proprietary digital distribution technology to optimise its reach and create a superb user experience. Kape offers products which provide end-point security and privacy. Kape's vision is to provide online autonomy for a secure and accessible personal digital life, with team of over 350 people across nine locations worldwide.
www.kape.com
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