LONDON :British cyber-security company Darktrace cut its full-year revenue forecast on Wednesday after prospective customers turned more reluctant to run product trials due to the worsening economic environment. The company, which listed in April 2021, said it now expected its constant currency annual recurri
LONDON :British cyber-security company Darktrace cut its full-year revenue forecast on Wednesday after prospective customers turned more reluctant to run product trials due to the worsening economic environment.
It said ARR in the six months to end-December had increased by at least 36.5 per cent to a minimum of $556.3 million, but there had been a noticeable slowdown in new customer additions recently. "Clearly, however, the current macro-economic environment is creating challenges to winning new customers, with prospects more reluctant to run product trials and, in regions with historically higher conversion rates, those rates are starting to decline," she said in a statement.
"This is largely a new customer win issue and it is more pronounced at the smaller end," she told Reuters.
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Darktrace cuts revenue outlook as customers turn cautiousLONDON : British cybersecurity company Darktrace cut its full-year revenue forecast on Wednesday, saying prospective customers were more reluctant to run product trials due to the worsening macro-economic environment. The company said it now expected its constant currency annual recurring revenue to incre
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