LONDON, Oct 12 (Reuters) - British cybersecurity company Darktrace (DARK.L), which in August was the subject of takeover interest, said it was maintai
LONDON, Oct 12 (Reuters) – British cybersecurity company Darktrace (DARK.L), which in August was the subject of takeover interest, said it was maintaining its annual guidance but warned that foreign exchange headwinds could weigh on its performance.
U.S. technology investor Thoma Bravo said last month that it would not make an offer for Darktrace after it failed to agree terms of a deal.
Darktrace, which uses artificial intelligence to detect attacks and vulnerabilities inside IT networks, said on Wednesday that there was no change to its forecasts for annual revenue, adjusted EBITDA and free cash flow margin after it added 320 new customers in its first quarter.
But adverse currency movements could drag on its performance, it warned. The pound hit a record low of $1.0327 on Sept 26. It has since recovered around 6% in value, but is still showing a nearly 19% loss so far this year.
“Darktrace is maintaining its expectation for FY 2023 year-over-year revenue growth of between 30% and 33%, though it will continue to monitor FX rates, and their potential impacts on revenue, for downside movement,” the company said in a statement.
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Reporting by Sarah Young; editing by James Davey
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