Kape's results in line as new product aids revenue growth
Kape Technologies on Tuesday reported that its interim results are expected to be in line with expectations following strong sales growth from its suite of digital privacy products.
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The global cyber-security business said it expects its revenue for the six months ended 30 June to come in at approximately $29.6m, up from $24.1m for the same period last year, representing an increase of 23.9% which the company said was driven by growth in sales of Kape's suite of digital privacy products.
Meanwhile, the AIM traded company's interim adjusted EBITDA is expected to be up 40.2% at roughly $5.8m.
Kape said research & development remains a central focus and noted that its end-market continues to experience strong growth following the release of the new ZenMate product introduced in the period.
Ido Erlichman, chief executive of Kape, said: "The group is better placed than ever to take market share and generate significant ongoing value for all stakeholders. We remain confident that our ongoing investment in people and products will continue to ensure Kape remains at the forefront of the burgeoning digital privacy and security arena."
Analysts at Shore Capital said: "Overall, the trading update confirms a business that continues to leverage its high-quality SaaS products and digital marketing expertise, growing a base of profitable users with high retention rates. Success to date provides an excellent platform for future growth. The market opportunity for Kape is large, attractive and growing globally."
Kape Technologies' shares were down 2.10% at 81.26p at 1305 BST.