Kape Technologies reported an 89% increase in revenue to $230.7 million compared to $122.2 million in 2020, representing a 20.7% increase on a proforma basis.
The company announced an operating profit of $38.1 million compared to $10.7 million in 2020.
Kape Technologies noted a proforma EBITDA of $78 million against $39 million in 2020.
However, the company reported a decline in post-tax profit at $23.3 million against $28.8 million.
Kape Technologies announced its acquisition of ExpressVPN for $925.8 million among its operational highlights, which has been the company’s largest acquisition to date.
The company also acquired digital platform Webselenese for $155.1 million in 2021, which provided Kape with a large market for consumer digital privacy and security, with a reported 100 million readers.
Kape Technologies noted a 161% increase in subscriber base to 6.5 million against 2.5 million in 2020, with a retention rate of 81%.
The company declared no dividend for 2021 and 2020 for shareholders.
Kape Technologies has a PE ratio of 41.9 and a forward PE ratio of 22.5, indicating analyst expectations of a rise in revenue in 2022.
The technology firm’s outlook for 2022 is projected at revenues between $610-624 million alongside an adjusted EBITDA between $166-172 million.
The group’s focus over 2022 will reportedly centre on ExpressVPN’s integration into the company.
“We are immensely proud of our progress in 2021, having delivered both a record financial performance and completed the most ambitious acquisition programme in our history,” said Kape Technologies CEO Ido Erlichman.
“In 2021, we achieved record customer growth, providing further evidence that our products remain both compelling and highly innovative, and, more importantly, our customers continue to utilise our services for many years.”
“Pleasingly, we have carried this positive momentum into 2022 and remain extremely positive about Kape’s prospects.”
Kape Technologies saw its share price dip 4.3% in early morning trading on Tuesday.