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Kape sees annual revenue within top end of guidance range
StockMarketWire.com
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Digital security and privacy software business Kape said full-year was expected to be within the top end its guidance range amid ongoing momentum.
For the year ended 31 December 2020, revenue was expected to be about $122.2 million, up 85% and at the upper end of management's forecasted range.
Adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, was expected to be ahead of management's expectations at approximately $39.0 million, up 168% from $14.6 million last year up 168%.
Adjusted EBITDA margin was expected to increase significantly to 31.9% from 22.0% in 2019.
'During the year, Kape completed the seamless integration of Private Internet Access ahead of schedule, delivering a 31% saving in operating expenses and growing privacy segment revenues by 16% (both on a pro-forma basis),' the company said.
'The company expects increased marketing activity in Q4 2020 to yield accelerated organic growth in the current financial year,' it added.
At 10:00am: (LON:KAPE) Kape Technologies PLC share price was 0p at 174.5p
Story provided by StockMarketWire.com
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