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Kape Technologies (KAPE)

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Thursday 20 May, 2021

Kape Technologies

AGM Statement

RNS Number : 2060Z
Kape Technologies PLC
20 May 2021
 

20 May 2021

Kape Technologies plc

("Kape," the "Group" or the "Company")

AGM Statement

 

Kape (AIM: KAPE), the digital security and privacy software business, provides an update ahead of its Annual General Meeting ("AGM") at 12.00 p.m. today. As noted in the Company's Notice of AGM announcement, shareholders must not attend the meeting in person.

 

At the meeting, Ido Erlichman, Chief Executive Officer of Kape, will make the following statement:

 

"I am pleased to report that Kape has made a strong start to 2021, buoyed by sustained demand for our digital privacy products globally, as well as the acquisition of Webselenese, which we completed in March 2021. We are on-track to deliver on our guidance of revenues of between $197-202 million (a c. 65% expected increase) and Adjusted EBITDA of between $73-76 million (a c. 90% expected increase) for the full year 2021 on a reported basis as announced at the time of the Webselenese acquisition.

 

Kape now supports c. 2.61 million paying subscribers globally. Since the beginning of the year, we have been adding c. 25,000 new customers a month, on a net basis, in our digital privacy division, and we expect this to accelerate.

 

Webselenese is proving to be an excellent addition to the Kape family. We have launched multiple cross-company initiatives which are enabling the Group to benefit from Webselenese's substantial technology knowhow in the space and are already enhancing our product development roadmap and go-to-market capabilities.

 

In May 2021, we launched our Privacy First Anti-Virus for PC, which will initially be Intego branded, and in the coming months will be rolled-out to both CyberGhost and Private Internet Access users as part of a wider Company initiative.

 

From the beginning of the year over 12% of new CyberGhost customers and over 20% of new Intego users, are now purchasing more than one product, resulting in an increase in our Average Order Value (AOV). The Company continues to invest in both R&D and new product development, which remains a key growth driver for our business.

 

We believe we are well positioned to become the one-stop-shop of choice for our customers' digital privacy and security needs through our product suite and go to market capabilities."

 

Enquiries:

 

Kape Technologies plc

Ido Erlichman, Chief Executive Officer

Moran Laufer, Chief Financial Officer

 

via Vigo Consulting

Shore Capital (Nominated Adviser & Broker)

Mark Percy / Toby Gibbs / James Thomas / Michael McGloin

+44 (0)20 7408 4090

Stifel Nicolaus Europe Limited (Joint Broker)

Alex Price / Brad Topchik / Alain Dobkin / Richard Short

+44 (0)20 7710 7600

Vigo Consulting (Financial Public Relations)

Jeremy Garcia / Antonia Pollock

[email protected]

+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 focuses on protecting consumers and their personal data as they go about their daily digital lives.

 

To date, Kape has over 2.6 million paying subscribers, supported by a team of over 420 people across eight locations worldwide.

 

Through its subscription-based platform, Kape has fast established a highly scalable SaaS-based operating model, geared towards serving the vast global consumer digital privacy market.

 

www.kape.com

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