Darktrace, tech cyber security darling, announced in its Annual General Meeting this morning that the company was “uniquely positioned to lead new phase in cyber security”, despite its ongoing fall from grace.
In a statement, Gordon Hurst, Chairman of Darktrace, described 2021 as a “pivotal” year for the firm, and praised its revenue growth of 41 per cent.
“I would also highlight that Darktrace AI stops ransomware on average within one second, and Darktrace Antigena stops an attack somewhere in the world every single minute”, he said.
Darktrace now has over 1,600 employees and over 5,900 customers, 86 per cent of whom have two or more Darktrace products.
“It’s been a tremendous year for Darktrace and I am excited about the future for this business – we have a strong team and are uniquely positioned to continue our successful upward trajectory as we lead the way forward in cyber security and enter our next phase of strategic growth”, Hurst said.
The confident announcement comes as the fraud case against founding investor Mike Lynch continues to overshadow the company and impact the share price.
Just last week, US prosecutors applied for subpoenas against current Darktrace chief executive Poppy Gustafsson and six other employees of Lynch’s previous software company Autonomy.
The company has had a dwindling share price since its promotion to a blue-chip company, and its shares fell almost 50 per cent since Peel Hunt issued a bearish note last month.
Darktrace shares were down this afternoon to 494.20p.