Kape Technologies PLC COVID-19 Update (1324I)
March 31 2020 - 1:00AM
UK Regulatory
TIDMKAPE
RNS Number : 1324I
Kape Technologies PLC
31 March 2020
31 March 2020
Kape Technologies plc
("Kape," the "Company," or the "Group")
COVID-19 Update - Kape on track to deliver on 2020 targets
Kape (AIM: KAPE), the digital security and privacy software
business, provides an update regarding the impact of COVID-19.
As a result of the restrictions being imposed on movement across
the globe in response to the COVID-19 pandemic, and an increase in
both remote and home working, Kape has seen increased demand for
its products. This has been especially apparent within the Group's
digital privacy division, and in particular Kape's VPN offering has
experienced increased demand globally but most notably from North
America and Europe.
Demand for Kape's digital privacy products is robust, and the
Group is on track to deliver revenues of $120-123 million and
Adjusted EBITDA(1) of $35-38 million in 2020.
At an operational level, Kape has successfully shifted its
global workforce to remote working across the majority of its
locations with minimal impact on the Group's output. The health and
wellbeing of the Company's employees is of the utmost importance
during this challenging time. The Company is pleased that it has
been able to serve the increase in demand without impacting the
quality of its services. Furthermore, given the recent debt
facility announced on the 19 March, which includes a $10 million
revolving credit facility and a $20 million uncommitted acquisition
facility, the Company is in a strong position to further grow its
business.
Management continues to monitor the situation regarding COVID-19
closely and remains confident in the ongoing performance and
agility of the Group.
Enquiries:
Kape Technologies plc via Vigo Communications
Ido Erlichman, Chief Executive Officer
Moran Laufer, Chief Financial Officer
Shore Capital (Nominated Adviser & Broker)
Mark Percy / Toby Gibbs / James Thomas +44 (0)20 7408 4090
N+1 Singer (Joint Broker)
Harry Gooden / George Tzimas +44 (0)20 7496 3000
Vigo Communications (Financial Public Relations)
Jeremy Garcia / Antonia Pollock / Fiona Norman
kape@vigocomms.com +44 (0)20 7390 0237
About Kape
Kape is a leading 'privacy-first' digital security software
provider to consumers. Through its range of privacy and security
products, Kape focusses on protecting consumers and their personal
data as they go about their daily digital lives.
To date, Kape has over 2 million paying subscribers, supported
by a team of over 350 people across eight locations worldwide. Kape
has a proven track record of revenue and EBITDA growth, underpinned
by a strong business model which leverages our digital marketing
expertise.
Through our subscription-based platform, Kape has fast
established a highly scalable SaaS-based operating model, geared
towards capitalising on the vast global consumer digital privacy
market.
www.kape.com
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(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.
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END
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