Darktrace PLC on Thursday said it saw ‘strong growth’ in revenue during the third quarter of its financial year.

Shares in Darktrace rose 8.7% to 472.71 pence each in London on Thursday morning.

The Cambridge, England-based cybersecurity company said at constant currency rates, annualised recurring revenue at March 31 was $731.1 million, representing growth of 24% from $583.6 million a year ago.

Revenue in its third quarter jumped 24% to $176.1 million from $139.2 million a year prior.

Darktrace expects adjusted earnings before interest, tax, depreciation and amortisation margin for the third quarter to be above its previously communicated financial 2024 guidance range of at least 21%.

Looking ahead, Darktrace narrowed its guidance range for constant currency ARR, and now expects growth of between 22.3% and 23.0%, from 21.5% to 23.0% previously.

The firm also raised its expectations for year-on-revenue growth and adjusted Ebitda margin, and now expects revenue growth of at least 25.5%, up from its previous 23.5% and 25.0% range. Adjusted Ebitda is expected to be at least 23%, up from 21%.

Chief Financial Officer Cathy Graham says: ‘Following the roll-out of significant 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.’

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