StockMarketWire.com - Cyber security company Darktrace upgraded its outlook on annual revenue after reporting 'strong' first quarter performance.

Year-over-year revenue growth was expected to be between 37% and 39%, up from 35% to 37% previously, with 47% to 48% of annual revenue being recognised in the first half of the financial year.

The upgrade forecast was driven by a lesser than expected impact from recent foreign exchange headwinds.

For its first quarter of FY 2022 ended 30th September 2021, revenue jumped 50.8% to $93.1 million year-on-year as its customer base grew to 5,975, up 42.7% year-on-year.

Annualised recurring revenue was up 63.8% to $24.1 million.



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