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Corero Network Security ( (GB:CNS) ) has provided an update.
Corero Network Security has reported significant financial progress for the fiscal year 2024, with a 16% increase in annualized recurring revenue (ARR) to $19.5 million and a 13% rise in order intake to $28.2 million. The company has seen robust growth in new customer acquisition and maintained a high customer retention rate of 97%. The revenue for FY 2024 is expected to reach approximately $24.6 million, marking a 10% increase from the previous year. The launch of the new product platform, CORE, and a shift towards a SaaS-based revenue model have solidified Corero’s position in the DDoS protection industry, promising continued growth and innovation into 2025.
More about Corero Network Security
Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection with network visibility, analytics, and reporting tools. The company’s technology safeguards against DDoS threats in complex edge and subscriber environments, ensuring internet service availability. Corero operates in Marlborough, USA, and Edinburgh, UK, with headquarters in London, and is listed on the London Stock Exchange’s AIM market and the US OTCQX market.
YTD Price Performance: 0.51%
Average Trading Volume: 582,573
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £101.4M
See more insights into CNS stock on TipRanks’ Stock Analysis page.
