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13th October 2021 Darktrace plc Pre - Open Trading Update Strong Q1 performance , increasing revenue growth expectations for FY 2022 Darktrace plc ( DARK.L ) ( together with its subsidiaries , “ Darktrace " or " the Group " ) a global leader in cyber security Al , today provides a trading update for its first quarter of FY 2022 ended 30th September 2021 . Operating and Financial Performance For Q1 FY 2022 , Darktrace continued the strong sales performance it delivered in 2H FY 2021 , growing its customer base to 5,975 , up 42.7 % year - on - year . As new customer additions are the primary driver of constant currency Annualised Recurring Revenue ( ARR ) measures , this resulted in net ARR added for Q1 FY 2022 of $ 24.1 million , up 63.8 % over the same quarter of FY 2021. This unusually high growth in net ARR added was a consequence of comparing to Q1 FY 2021 , when sales momentum was materially impacted by the early stages of the COVID - 19 pandemic . This growth in Q1 FY 2022 net ARR added and the strong performance in recent periods resulted in ARR at 30th September 2021 of $ 381.5 million , up 45.9 % year - on - year . Revenue for Q1 FY 2022 was $ 93.1 million , up 50.8 % over the same quarter of FY 2021. During the latter part of the quarter , the U.S. Dollar strengthened against key international currencies , primarily Pound Sterling and the Euro , creating foreign exchange headwinds . The impact of these headwinds on revenue recognised in the full quarter was , however , at the lower end of Darktrace's estimates for the period . Gross margin , one - year gross ARR churn and net ARR retention rate remained in the ranges reported in recent periods . FY 2022 Outlook In the short time since Darktrace last updated its expectations , September results were as expected , and management's view of the balance between positive sales momentum and potential impacts from efforts to evolve its salesforce structure , remained unchanged . As such , Darktrace is reiterating the FY 2022 guidance and related commentary it provided for ARR , net ARR added and adjusted EBITDA margin on 15th September 2021 in its FY 2021 earnings release . However , as recent foreign exchange headwinds were less than had been previously forecast , accelerating the conversion of constant currency ARR to US dollar denominated revenue , Darktrace is now expecting year - over - year revenue growth of between 37 % and 39 % ( previously 35 % to 37 % ) , with 47 % to 48 % of annual revenue being recognised in the first half of the financial year . Cathy Graham , CFO of Darktrace , said : " We have continued our strong performance into the first quarter of FY 2022 , growing our customer base , ARR and revenue . We remain focused on empowering organisations to interrupt cyber threats , before they experience a business disruption , using our leading Self - Learning Al technology . Looking ahead , we have reiterated FY 2022 guidance for ARR , net ARR added and adjusted EBITDA margin , while upgrading guidance on revenue growth due to a smaller - than - expected impact from foreign exchange headwinds in the first quarter . " Annual General Meeting On 22nd September 2021 , Darktrace announced that its Annual General Meeting ( " AGM " ) will be held at 9.00 a.m. ( London time ) on 24th November 2021 at the offices of Latham & Watkins , 99 Bishopsgate Street , London EC2M 3XF , and that the Notice of AGM and the associated Form of Proxy had been posted or made available to Darktrace's registered shareholders . The Notice of AGM and the