Corero Network Security spent 2025 expanding beyond its core DDoS protection market. It launched new products, increased its focus on subscription delivery and widened the range of security problems its technology can address. The first half of 2026 shows the financial effect of that work.
Revenue rose 42% year on year in H126. The increase followed strong order intake in the final quarter of 2025, when orders were 74% higher than a year earlier. Adjusted EBITDA reached $2.7 million in the first half, while operating expenses increased by 5%.
First-half order intake was $14.3 million, up 14% year on year. The figure was lower than the pace of revenue growth, but it excludes a large contract with a Tier 1 US operator signed shortly after the period ended. Large contract timing can therefore create uneven order intake between reporting periods.
Annual recurring revenue reached $24.1 million at the end of H126, up 12% year on year and slightly above the $23.9 million recorded at the end of 2025. The recent Tier 1 contract is not included in that number.
Edison has kept its forecasts unchanged ahead of the detailed H126 results expected in September. Its current estimates are for revenue of $29.5 million and adjusted EBITDA of $3.4 million in 2026, rising to $38.4 million of revenue and $7.5 million of adjusted EBITDA in 2028. Edison also believes those forecasts may prove conservative if larger pipeline opportunities convert.
Corero Network Security plc (LON:CNS) is a global provider of automated business continuity and network security solutions.
