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Strong demand elevates Darktrace’s revenue amid rising cyber threats

British cyber-security firm Darktrace DARK.L on Thursday raised its forecasts for full-year revenue and margin on strong demand for its services amid a challenging geopolitical environment with more cyber threats.

Darktrace said it now expected revenue for the 12 months to the end of June to grow by between 23.5% and 25%, up from a range of 23% and 24.5%, and an adjusted EBITDA margin of at least 21%, higher than the 18% to 20% previously guided.

Cyber attacks are a growing threat to all businesses, given ongoing tensions with Russia and China, and generative AI tools are making it easier for hostile actors to carry out phishing attacks.

“Against this backdrop and in the period ahead, we are preparing to roll out enhanced market and product positioning to better demonstrate how our unique AI can help organisations to address novel threats across their entire technology footprint,” Chief Executive Poppy Gustafsson said.

The group’s upgrades were also driven by controls on discretionary spending and after the company last year made a change to the timing of its sales commission payments, which it said would help it attract better talent to grow sales. Reuters

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