Darktrace says tough market for new customers hitting growth
Technology
UK company said on Thursday it added net constant currency ARR of $27.0 million in its third quarter
LONDON (Reuters) - Cyber-security company Darktrace (DARK.L) said the tough global economy had hit new customer additions and as a result it expected its full-year annual recurring revenue (ARR) to grow by around 29%, towards the bottom of its previous guidance.
The British company said on Thursday it added net constant currency ARR of $27.0 million in its third quarter to end-March, a decline of 6.3% compared to the same quarter a year ago.
ARR stood at $583.6 million at the end of March, it said, representing year-over-year growth of 33.7%.
