Corero Network Security Announces H1 Financial Results

July 24, 2024 09:00 PM AEST | By Cision

Corero Network Security Announces H1 Financial Results — Image source: Kalkine Media

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Company posts 16% YoY growth with increases in ARR and bookings

LONDON, July 24, 2024 /PRNewswire/ -- Corero Network Security (AIM: CNS) (OTCQB: DDOSF), the distributed denial of service (DDoS) protection specialists, today announced its financial results for the first half of 2024. The company reports 16 percent YoY revenue growth, reflecting continued strong performance and strategic progress.

Corero achieved significant year-over-year growth in Annual Recurring Revenue (ARR) from its subscription services and DDoS Protection-as-a-Service (DDPaaS). Additionally, the company saw substantial increases in bookings during the first half of the year, driven by the rising demand for its cutting-edge DDoS protection solutions.

H1 business highlights include:

16% YoY revenue growth
Renewal and expansion of the agreement with A2 Hosting
Significant contract renewal with DigitalOcean
Partnership with RoyaleHosting
Partnership with SEMPRE to secure the availability of critical infrastructure
Announced TierPoint customer win
Growth to new markets including the Netherlands and Pakistan
Key customer wins in Canada, Hong Kong, Israel, UK, and US

"We are pleased to report that Corero is on plan and has built strong momentum as we enter the second half of the year," said Carl Herberger, CEO of Corero Network Security. "Our consistent growth in ARR and bookings underscores the market's recognition of the value and effectiveness of our DDoS protection solutions. We are confident in our ability to continue delivering robust performance and value to our shareholders."

About Corero Network Security
Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero's technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centers in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange's AIM market (ticker: CNS) and the US OTCQB Market (OTCQB: DDOSF).

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