3년 2024분기 거래 업데이트
11 4월 2024
Darktrace plc 3Q FY 2024 Trading Update
Return to positive Net ARR added growth drives strong growth in ARR and Revenue
Raising ARR, Revenue, margin and FCF expectations for FY 2024
Darktrace plc(DARK.L)(자회사와 함께 "Darktrace" 또는 "그룹") a global leader in cyber security AI, today provides a trading update for the three months ended 31 March 2024.
운영 및 재무 성과
FY 2024 고정 환율 기준(1), Annualised recurring revenue ("ARR") at 31 March 2024 was $731.1 million, representing year-over-year growth of 23.5%(2). In the third quarter, Darktrace added Net ARR of $29.0 million, for year-over-year growth of 6.2% on a constant currency basis. This marked a return to year-over-year growth and the second consecutive quarter of upward trajectory in Net ARR added.
Revenue for Darktrace's third quarter was $176.1 million, reflecting year-over-year growth of 26.5%. Gross margin remained in the range reported at 31 December 2023, while at 6.6%, One-year gross ARR churn remained equal to the range reported at December 2023 and showed a 0.2 percentage point improvement on March 2023. Net ARR retention rate at 31 March 2024 was 105.3%, improved by 0.3 and 0.6 percentage points from December 2023 and March 2023, respectively, as higher upsell rates began to show within a stabilised churn environment.
Though its accounts for the period are not yet fully closed, Darktrace expects Adjusted EBITDA margin for the third quarter to be above its previously communicated FY 2024 guidance range of at least 21%.
With 9,402 customers at 31 March 2024, year-over-year growth in Darktrace's customer base was 11.9%, having added 170 customers in the third quarter for a total of 999 net new customers since March 2023. Darktrace continues to drive a significant amount of new ARR added from its existing customer base, but expects new customer ARR additions to increase once this economic environment, which appears to have stabilised, begins to improve.
(1) The Group's primary currency exposures are the British Pound and the Euro converting to its US Dollar reporting currency. For FY 2024, its constant currency rates are 1.2682 and 1.0908 for the British Pound and the Euro, respectively.
(2) Darktrace's USD ARR at 31 March 2024 was $727.3 million, which represents year-over-year growth of 23.4%.
2024 회계연도 전망
At the end of its first half Darktrace reported that Go-to-Market initiatives undertaken early in its financial year were continuing to gain traction, and this is further reflected in its third quarter results. As a result, Darktrace is again narrowing its guidance range for year-over-year constant currency ARR growth to between 22.25% and 23.0% (previously 21.5% and 23.0%), raising its midpoint expectation by approximately $2.4 million. This implies FY 2024 net ARR additions of between $141.8 million and $146.6 million (previously $137.0 million to $146.6 million) and year-over-year growth in Net ARR added of between (2.5)% and 1% (previously between (6)% and 1%).
Darktrace is also raising its expectations for year-over-year Revenue growth and Adjusted EBITDA margin. It now expects FY 2024 Revenue growth of at least 25.5%, 0.5 percentage points above the high end of its previous 23.5% and 25.0% range, reflecting continued strong ARR to revenue conversion and a relatively stable exchange rate environment. Further, as it continues to control its discretionary spending without sacrificing planned investment, Darktrace is increasing its expectation for Adjusted EBITDA margin to at least 23.0% (previously at least 21.0%). It also confirms its guidance for Free cash flow (FCF) in the range of 50% to 60% of a now increased Adjusted EBITDA expectation.
Darktrace의 CFO인 Cathy Graham은 다음과 같이 말했습니다.
"중요한 출시 이후 Go-to-Market changes in our first quarter, we were very pleased to see the resulting benefits that drove strong second quarter results, continue to accelerate third quarter financial performance. Today's results reinforce our view of first half stabilisation and second half re-acceleration, with a return to Net ARR added growth supporting our view that Darktrace has a sustainable opportunity for ARR, revenue and margin expansion. We are pleased to be able to make the resulting upward revisions to our full year guidance as we enter this final quarter of our financial year.
Our strong margin and cash generation profile enables us to continue making smart investments in our product pipeline and positioning, Go-to-Market effectiveness and business foundations. We believe the markets in which we operate are emerging from a period of relative economic uncertainty and moving to an environment where organisations can prioritise proactive cyber defense. Darktrace products are uniquely effective at combating attackers who are increasingly exploiting generative AI, automation and cybercrime-as-a-service to increase the speed, sophistication, and success of cyber security attacks. With this week's announcement of the Darktrace ActiveAI Security Platform, we believe we can now better explain the power of our approach as we continue to evolve our existing best-in-class security products with new innovations and enhanced features to enable proactive cyber resilience in an increasingly challenging environment."
최근 개발
Announcement of Darktrace ActiveAI Security Platform
On 9 April 2024, Darktrace introduced the Darktrace ActiveAI Security Platform™, its new positioning for the Darktrace product offering, replacing the Cyber AI Loop. It encompasses Darktrace's existing best-in-class security products, supplemented by new industry-first innovations and features, including for email and operational technology (OT). Darktrace believes the ActiveAI Security Platform provides a better framework to communicate how it uses AI to transform security operations from reactive to proactive, and improves cyber resilience by visualising, correlating, and investigating security incidents across cloud, email, network, endpoint, identity, OT, and third-party tools and applications.
Termination of Pre-IPO Shareholder Agreements
As a result of share sales made between May 2023 and March 2024, each of the three shareholder agreements dated 30 April 2021 between Darktrace and the Invoke Shareholders, KKR DA, and the Summit Shareholders have terminated in accordance with their terms (as described in the Darktrace IPO prospectus). Consequentially, no shareholders have rights to nominate potential directors for consideration by the Darktrace Board of Directors.
Darktrace 정보
Darktrace (DARK.L), a global leader in cybersecurity artificial intelligence, is on a mission to free the world from cyber disruption. Breakthrough innovations from our R&D teams in Cambridge, UK, and The Hague, Netherlands have resulted in over 175 patent applications filed. Rather than study historic attacks, Darktrace's technology continuously learns and updates its knowledge of your business data and applies that understanding to help transform security operations to a state of proactive cyber resilience. The Darktrace ActiveAI Security Platform™ provides a full lifecycle approach to cyber resilience that can autonomously spot and respond to known and unknown in progress threats within seconds across the entire organisation, including cloud, apps, email, endpoint, network and operational technology (OT). Darktrace, which listed on the London Stock Exchange in 2021, employs over 2,300 people around the world and protects over 9,400 customers globally from advanced cyber threats. To learn more, visit http://www.darktrace.com.
주의 진술
이 발표에는 그룹의 현재 목표, 미래 성과에 대한 기대 및 예측, 예상되는 이벤트 또는 추세 및 역사적 사실이 아닌 기타 문제와 관련하여 특정 미래 예측 진술이 포함되어 있습니다. 때때로 "목표", "예상", "믿다", "의도하다", "계획하다", "추정하다", "기대하다" 및 이와 유사한 의미의 단어를 사용하는 이러한 미래 예측 진술에는 다음과 같은 모든 문제가 포함됩니다. 역사적 사실이 아니며 감독의 믿음과 기대를 반영하며 선의로 그리고 발표 시점에 사용 가능한 정보를 기반으로 합니다. 이러한 진술에는 실제 결과 및 성과가 미래 예측 진술에서 표현하거나 암시한 예상 미래 결과 또는 성과와 실질적으로 다를 수 있는 많은 위험, 불확실성 및 가정이 포함되어 있으므로 주의해서 다루어야 합니다. 이 발표에서 Darktrace에 의해 또는 Darktrace를 대신하여 작성된 모든 미래 예측 진술은 작성된 날짜를 기준으로 합니다. 적용 가능한 법률이나 규정에서 요구하는 경우를 제외하고 Darktrace는 이 발표에 포함된 미래 예측 진술에 대한 업데이트나 수정 사항에 대한 기대의 변경이나 이벤트, 조건 또는 변경 사항을 반영하기 위해 게시할 의무나 약속을 명시적으로 부인합니다. 그러한 진술의 근거가 되는 상황.
중요 정보
본 발표에는 시장 남용 규정(EU) No. 7/596(2014년 유럽 연합(탈퇴)법에 따라 영국 법률의 일부를 구성함)의 2018조에 정의된 내부 정보가 포함되어 있습니다. 이 발표가 발표되면 이 정보는 이제 공개 도메인으로 간주됩니다.
문의 :
Luk Janssens - 투자자 관계, Darktrace
직통: +44 7811 027 918
헤드랜드 - 홍보 고문
헨리 월러스
직통: +44 7876 562 436
hwallers@headlandconsultancy.com
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