that $3.8 million of sales this year should have been reported in its prior financial year.
Accountancy glitches are the least of Darktrace’s problems. Investors are fretting about Mike Lynch, a major shareholder, who lost a battle against U.S. extradition in January over fraud charges. This raised concerns that he may need to dump the stock if he is handed a large fine from. Lynch denies all charges and is contesting extradition. The business is also operating in a competitive market that analysts at JPMorgan reckon will require even more investment.
on 70 times. Chief Executive Poppy Gustafsson will now have to face those challenges in the glare of public markets.
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