(Alamy/PA)
Shares in Darktrace fell below their IPO price for the first time today after the cybersecurity firm warned its revenues were set to fall below expectations for its full financial year as economic uncertainty sparked a slowdown in its recruitment of new customers.
The Cambridge-based business saw its stock plunge 18% to 238p in the opening minutes of trade after it cut its revenue growth outlook to 29.5%-31%, down from as much as 33% in an earlier estimate, as macroeconomic headwinds led to an “impact on new customer growth that had been larger than expected.”
