Darktrace Share Discussion Threads

[apotheki] 23/10/2023 08:01

Another sh*te article which funnily enough is almost exactly the same as the previous ones!

Sack that sales guy [bad apple] and move on!

End of!

[fuji99] 23/10/2023 07:45

I am not sure if at the end, this company is not fleeced by crooks if all the news you get about it are true. I start to really feel uncomfortable holding its shares when you read all these stories.

[drk1] 19/10/2023 10:33

Good and positive coverage in today's FT - well worth a read.............

[r9505571] 17/10/2023 06:39

Consensus EPS estimates fall by 26%The consensus outlook for fiscal year 2024 has been updated.2024 EPS estimate fell from US$0.081 to US$0.06 per share.Revenue forecast steady at US$668.1m.Net income forecast to shrink 28% next year vs 13% growth forecast for Software industry in the United Kingdom .Consensus price target broadly unchanged at UK£5.09.Share price fell 8.6% to UK£3.57 over the past week.

[thomstar] 13/10/2023 07:12

Darktrace more like retrace

[crosswires] 12/10/2023 11:52

Same reaction last on target earnings/update. Finished up that day. Nothing other than a buying opportunity for some.

[thomstar] 12/10/2023 11:18

This should finish up today, decent results in today's conditions

[apotheki] 12/10/2023 06:40

Darktrace plc Q1 FY 2024 Trading Update

28% YoY revenue growth in quarter, confirming FY 2024 expectations


Darktrace plc (DARK.L) (together with its subsidiaries, "Darktrace" or "the Group") a global leader in cyber security AI, today provides a trading update for the three months ended 30th September 2023.

Operating and Financial Performance

At its FY 2024 constant currency rates(1), Darktrace's Annualised recurring revenue ("ARR") at 30th September 2023 was $658.4 million, representing year-over-year growth of 26.9%(2). This sizeable constant currency ARR growth was supported by its multi-year contract structure, which moderated the effects of a stabilising, but still challenging, macro-economic environment, and the temporary impacts of significant changes made across Darktrace's Go-to-Market organisation in the first quarter.

With the first quarter typically being the smallest sales quarter of Darktrace's financial year, it chose this period to deliver new sales and product training, alter targeting and sales tactics and workflows, revise commissions plans, and introduce other significant changes to its teams and Go-to-Market approach. As expected, these actions impacted first quarter sales, however, Darktrace believes these are the right steps to best capture what remains a large market opportunity and is seeing the early signs that provide it with confidence in that outlook.

During Q1 FY 2024, Darktrace added Net constant currency ARR of $21.1 million, a decline of (21.6)% compared to the same quarter of FY 2023. Most ARR additions continue to come from the acquisition of new customers; Darktrace added 126 net new customers in the quarter resulting in customer base growth of 15.1% year-over-year, to 8,925 customers at 30th September 2023.

Revenue for Q1 FY 2024 was $161.6 million, reflecting year-over-year growth of 28.0%. Gross margin, as well as One-year gross ARR churn and Net ARR retention rates remained in the ranges reported at 30th June 2023.

(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 Pound and the Euro, respectively.
(2) Darktrace's USD ARR at 30th September 2023 was $648.2 million, for year-over-year growth of 31.1%.

FY 2024 Outlook

Darktrace is confirming its expectations for year-over-year constant currency ARR growth of between 21% and 23%, implying FY 2024 net ARR additions of between $133.8 million and $146.6 million and year-over-year growth in Net ARR added of between (8)% and 1%. Darktrace continues to frame FY 2024 in terms of first half stabilisation and second half re-acceleration but it now expects approximately 44% of FY 2024 Net ARR added to be added in the first half and approximately 56% to be added in the second half (previously 45% first half, 55% second half).

Darktrace also confirms its expectations for year-over-year revenue growth of between 22.0% and 23.5%, an Adjusted EBITDA margin range of 17.0% to 19.0%, and Free cash flow ("FCF") in the range of 50% to 60% of Adjusted EBITDA.

Cathy Graham, CFO of Darktrace, said:

Though recent changes to our Go-to-Market teams and tactics had the expected, noticeable impact on first quarter sales, our long-term contract model, which dampens the effect of short-term sales swings, allowed us to maintain sizeable ARR and revenue growth. More importantly, we started to see early signs that the transformations we have been targeting are starting to take hold.

Previously, we said two key targets for investment were increasing focus on larger prospect opportunities and driving deeper engagement with the partner channel. I'm pleased that in both cases, the first quarter delivered early, but clear, indicators of gaining traction. In the first quarter, meetings held with prospects having over $1 billion in revenue for priority sectors and $5 billion for others, increased 65% from Q4 FY 2023 and 173% from the first quarter of the prior year.

Similarly in the partner channel, partner-generated product trials (also known as proof-of-values or POVs) increased 13% from Q4 FY 2023 and 45% from the comparable prior year period. As we believe these areas are vital to Darktrace's future success, seeing such positive trajectories from relatively recent investment and changes, contributes to our confidence that we are on the right path, both to deliver FY 2024 results and to drive growth in future years.

About Darktrace

Darktrace (DARK.L), a global leader in cyber security artificial intelligence, is on a mission to free the world of cyber disruption. Breakthrough innovations in our Cyber AI Research Centre in Cambridge, UK have resulted in over 160 patents filed and research published to contribute to the cyber security community. Rather than study attacks, Darktrace's technology continuously learns and updates its knowledge of your business data and applies that understanding to optimise your state of optimal cyber security. Darktrace's cyber AI technology provides a full lifecycle approach to cyber resilience across the entire organisation that can autonomously spot and respond to novel in progress threats within seconds. Darktrace employs over 2,200 people around the world and protects approximately 8,900 customers globally from advanced cyber threats. Darktrace was named one of TIME magazine's 'Most Influential Companies' in 2021.

To learn more, visit hxxp://www.darktrace.com

[paraguay] 12/10/2023 06:39

Compared to some of my other holdings updates, reads just about okay. Hope to see revised commission structure coming through to the bottom line on half year results.

[thomstar] 02/10/2023 13:00

I mean 375 obvs

[thomstar] 02/10/2023 12:59

Need new resistance at 275 or above

[foreverbull] 02/10/2023 08:06

It is testing how strong the 400p support is?

[apotheki] 20/9/2023 09:50

Hello DARK ness my old friend

[buoycat] 15/9/2023 10:04

Why not hold both. Learnt years ago not to put all eggs in one basket! Now does not look like a good time to be out of dark.

[apotheki] 15/9/2023 07:30

Well so far so good with 400p now providing support with the next stop 500p on the way to 1000p

[thomstar] 14/9/2023 12:48

Mm tree shake trace

[apotheki] 13/9/2023 09:27

LOL - you stated that the other day and we all laughed then as well

[blackhorse23] 13/9/2023 09:03

Switched to NCC , better value tech stock

[apotheki] 11/9/2023 15:37

There you go folks a 2 day close above 400p which to a chartist is a bullish signal

[longtallsally] 11/9/2023 15:35

As someone else said 1000p is several years away…

[apotheki] 11/9/2023 13:04

Could this potentially be the 2nd day of a two day close above 400p allowing DARK to then potentially have a go at 1000p again but as mentioned the other day a BID could get in the way at any time!

[thomstar] 11/9/2023 12:16

Need to punch through this 400 resistance