Investing Ideas

Darktrace: AI Cybersecurity Leader With Thrilling Financials

Darktrace was founded by Cyber Defense experts at the University of Cambridge and British Intelligence agencies in 2013.

Today, they are a global leader in Cybersecurity AI (Artificial Intelligence) and offer real-time threat protection. The technology learns the "pattern of life" for every user and device in order to spot anomalies in the system. This helps understand and bolster the "Cyber Immune System" of a company.

As of June 2021, 62.2% of customers had three or more products, and 39.2% had four or more products, from their ten product platforms. Finally, the business focuses on retaining these customers, and they have a record 103% Net ARR Retention rate.

Darktrace generated revenue of $109.8 million for what they call Q3 2022, this was up a meteoric 50.1% year over year. They added 359 net new customers to bring the total customer base to 6,890, this is growth of 37.3% YoY and came from the acquisition of Cybersprint in March 2022. Net Annual Recurring Revenue ('ARR') was $462.6 million, up an impressive 6.3% YoY, with 1.4% related to the Cybersprint Acquisition. They have recently raised their guidance for ARR and now expect growth of ~40.0%, up from 38.5% previously forecasted.

International

British Pound Q3 2022 Forecast: The Bank of England - It’s Time to Decide

The second quarter of the year has been a tricky three months for the Bank of England (BoE) as inflation continued to soar – and is expected to rise further - while growth slowed to a crawl, sparking fears that the UK may enter a recession (two consecutive quarters of negative growth).

Investing Ideas

Big Technology Stocks like Tesla, Amazon and Microsoft Just Finished Their Worst Quarter in Years

U.S. stocks fell Thursday to end the second quarter, prompting the S&P 500's weakest first half of the year since 1970.

International

World’s Most Aggressive Central Bank Raises Key Rate to 200%

Zimbabwe’s central bank raised interest rates to a record and the government officially reintroduced the US dollar as legal currency to rein in surging inflation and stabilize the nation’s tumbling exchange rate.