By Adria Calatayud
Avast PLC said Tuesday that it expects revenue for 2021 to be a the upper end of its previous guidance after a rise in sales and adjusted earnings for the first quarter.
The Prague-based, London-listed cybersecurity company said quarterly revenue was $237.1 million compared with $214.6 million for the same period last year. On an organic basis, revenue was up 10%.
Adjusted earnings before interest, taxes, depreciation and amortization for the first three months of the year increased 10% to $133.7 million, with a margin of 56.4%, the company said.
Avast previously said it expected to deliver 2021 organic revenue growth in the range of 6% to 8%. Following the sale of its family safety mobile business, which will benefit growth rates over the balance of the year, the company now expects revenue to be at the upper end of its revenue growth guidance.
The company continues to expect the adjusted Ebitda margin for the full year to be broadly flat compared with last year, due to continued research-and-development and marketing investment.