Shareholders in cybersecurity company Darktrace (LSE: DARK) have had a tumultuous few years. Between a high point in 2021 and a low last year, the Darktrace share price tumbled by three quarters. Today (26 April) though, the shares leapt 20% in early trading. Why? A takeover bid. US investment firm Thoma Bravo announced it had reached agreement with Darktrace management on taking over the UK firm at a price equivalent to £6.20 per Darktrace share (at the current exchange rate). Darktrace shares soon reached almost that level, suggesting that the City expects the cash deal to proceed. Darktrace has been listed for under three years. In that time, its revenue growth has been impressive. Source: TradingView But at the earnings level, things have been less impressive, in my view. Tech firms often like somewhat obscure metrics to communicate their business performance. Indeed, I have often found Darktrace’s reports to be difficult to comprehend for that reason. Just as revenue has improved markedly in recent years, so has EBITDA (earnings before interest, tax, depreciation and amortisation). Source: TradingView I tend not to pay too much attention to EBITDA though. Costs like interest and tax are real so why exclude them from...