Kape has provided a post-close trading update, highlighting revenues significantly ahead of consensus at $230m (cons: $201m), up +89% y/y. Part of this beat is attributable to ExpressVPN (not included in our forecasts) which contributed $18m from 16th December. Underlying revenues were still 5% ahead of consensus at $212.5m driven by the continuation of high renewal rates (82%) and strong organic adds which contributed to a 0.5m organic net increase in subscribers (+18% y/y). Management have uti ....
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Further upgrades for FY'21
- Published:
18 Jan 2022 -
Author:
Chris Glasper -
Pages:
3
Kape has provided a post-close trading update, highlighting revenues significantly ahead of consensus at $230m (cons: $201m), up +89% y/y. Part of this beat is attributable to ExpressVPN (not included in our forecasts) which contributed $18m from 16th December. Underlying revenues were still 5% ahead of consensus at $212.5m driven by the continuation of high renewal rates (82%) and strong organic adds which contributed to a 0.5m organic net increase in subscribers (+18% y/y). Management have uti ....