Kape Technologies PLC Trading Update and Notice of Results (1038H)
July 30 2019 - 1:00AM
UK Regulatory
TIDMKAPE
RNS Number : 1038H
Kape Technologies PLC
30 July 2019
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014
30 July 2019
Kape Technologies plc
("Kape" or the "Group")
Trading Update and Notice of Results
Kape (AIM: KAPE), a leading, global cybersecurity SaaS business,
provides an update on trading for the six months ended 30 June
2019.
The Group continued to trade strongly through the first half,
underpinned by Kape's focussed customer acquisition strategy and
new product initiatives. Accordingly, the Board is pleased to
confirm that results are expected to be in line with management
expectations.
H1 2019 revenue is expected to be c.$29.6 million (H1 2018:
$24.1 million from continued operations), representing an increase
of 23.9% driven by growth in sales of Kape's suite of digital
privacy products, with all revenues collected in advance and
recognised along the contract period. H1 2019 Adjusted EBITDA(1) is
expected to be c. $5.8 million (H1 2018: $4.1 million from
continued operations), up 40.2%.
R&D remains a central focus for the Group, with the mission
to support Kape's customers' widening digital privacy requirements.
Kape's end-market continues to experience strong growth,
complemented by the new ZenMate solutions introduced in the period.
The Group's technology also exposed two new high-profile macOS
malware security threats through its endpoint security solution,
both of which Kape users are now fully protected against, providing
further validation of the Group's brand and broad privacy and
security capabilities.
The Group expects to report its interim results for the six
months ended 30 June 2019 on the 17 September 2019.
Ido Erlichman, Chief Executive Officer of Kape, commented:
"We continued our rapid progress into 2019, with high
double-digit growth in Adjusted EBITDA coupled with the increased
importance of our products to our customer's digital lives and a
broadening of our R&D capabilities. 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."
(1) Adjusted EBITDA is a non-GAAP measure and a company specific
measure which excludes other operating income and expenses which
are considered to be one off and non-recurring in nature.
(2) Calculated as expected revenues from first renewal of the
existing user base in addition to the deferred revenue balance
Enquiries:
Kape Technologies plc via Vigo Communications
Ido Erlichman, Chief Executive Officer
Moran Laufer, Chief Financial Officer
Shore Capital (Nominated Adviser & Broker) +44 (0)20 7408
Mark Percy / Toby Gibbs / James Thomas 4090
N+1 Singer (Joint Broker) +44 (0) 20 7496
Tom Salvesen (Corporate Broking) 3000
Vigo Communications (Financial Public Relations)
Jeremy Garcia / Antonia Pollock +44 (0)20 7390
kape@vigocomms.com 0237
About Kape
Kape is a cybersecurity company focused on helping consumers
around the world to have better experience and protection in their
digital life. Kape develops and distributes a variety of digital
products in the online security space. The Group utilises its
proprietary digital distribution technology to optimise its reach
and create a superb user experience. Kape offers products which
provide end-point security and privacy. Kape's vision is to provide
online autonomy for a secure and accessible personal digital life,
with team of over 350 people across nine locations worldwide.
www.kape.com
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END
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