Darktrace shares jump on strong results

Darktrace shares jumped 20% after the group raised its full-year outlook for revenue and earnings margin.

Thanks to a growth in customers by almost 40%, the group now expects year-over-year revenue growth of between 42% and 44% – which is an increase of 5%.

“I am very pleased that we have continued to deliver strong growth across our customer base, ARR and revenue in 1H FY 2022,” said Cathy Graham, the group’s chief finance officer.

“We also achieved our aim of driving improvement in churn and net ARR retention rates over the past six months by leveraging our customer success team and focusing on upsell programmes,” she added.

The group expects revenues for the year to hit 190m (£140m).