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Kape sees performance 'slightly' above market expectations

By BFN News | 09:56 AM | Monday 20 January, 2020


Kape said annual performance was expected to be 'slightly' above market expectations amid efforts to ramp up customer acquisition investment in the digital privacy segment. For 2019, adjusted (earning) EBITDA was expected to be slightly above market expectations at $14.5m, up 40% on-year with revenues up 26% to $66m, the company said. Kape's user base grew to 2.35m subscribers at year-end, comprising 74.3% organic growth. Reflecting the growth in its customer base, Kape expected to deliver $98.8m revenues from existing customers in future financial years, up 260% from $38m seen at the end of June. The integration of recently acquired PIA was now underway, the company said. At the time of the PIA acquisition, Kape issued guidance for the year ending 31 December 2020, with revenues expected to be in the range of $120m to $123m and adjusted EBITDA between $35m and $38m. At 9:56am: (LON:KAPE) Kape Technologies Plc share price was +9p at 170p Story provided by StockMarketWire.com

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