Corero Network Security plc (LON:CNS), the distributed denial of service (DDoS) protection specialists and champion of adaptive, real-time service availability, announces its unaudited results for the six months ended 30 June 2026.
Financial Highlights
· Strong revenue growth of 42% to $15.5 million (H1 2025: $10.9 million)
o Underpinned by new customer wins and contract expansions
· EBITDA1 improved to $2.6 million (H1 2025: loss of $1.4 million)
· Order intake2 increased 14% to $14.3 million (H1 2025: $12.5 million)
o Year-on-year progress highlights ongoing traction with channel partners and ongoing expansion of product offering
· Annualised Recurring Revenues3 (“ARR”) grew by 12% to $24.1 million (H1 2025: $21.6 million)
· Continued high customer retention4 at 96% further underpins Corero’s market leading position (H1 2025: 98%)
Operational Highlights
· Key customer contract extension for new Web Application Security (“WAAP”) product
o $1.1 million, 3-year contract with TierPoint, one of the world’s leading data centre providers
· Significant customer wins with Tier-1 service providers post period end
o $1.4 million, 3-year contract with Tier-1 US-based leader in global telecommunications
o $3.4 million, 5-year contract with a Tier-1 UK-based telecommunications provider
· $0.5 million, 3-year initial contract with one of the world’s leading NeoClouds, demonstrating further our capabilities in the NeoCloud market
Directorate Change during the Period
Jeremy Nicholls joined the board on 2 February 2026 as a Non-Executive Director, bringing over 35 years of experience in security, networking and unified collaboration technologies.
Current Trading & Outlook
· H2 2026 has started positively, driven by notable customer wins and an improving sales pipeline enhanced by an extended product portfolio
· ARR growth momentum expected to continue with continuing shift to Corero’s subscription-based sales model
· As a result, management now expects Corero to exceed market expectations5 for revenue and significantly exceed market expectations for EBITDA for FY 2026
Carl Herberger, Chief Executive Officer at Corero, commented:
“I am delighted with the progress Corero has made in the first half of the year with growth in all our major financial KPIs of revenue, ARR and EBITDA, which reflects our ongoing transition towards a more predictable, recurring revenue model.
DDoS attacks are becoming increasingly sophisticated and thus demand for comprehensive protection solutions is continuing to grow. We therefore believe we are well-positioned to capitalise on our expanding product portfolio with new go-to-market partnerships and our strong sales pipeline.
This positive momentum has continued into the second half with notable customer wins secured. With our strong customer retention, new Tier-1 customer wins, expanding global partner ecosystem, and the strength of our proposition, we remain confident in delivering continued growth and exceeding market expectations for the full year.”
1 EBITDA is defined as earnings before interest, tax, depreciation, and amortisation.
2 Order intake is defined as orders received from customers in the period.
3 ARR is defined as the normalised annualised recurring revenues and includes recurring revenues from contract values of annual support, software subscriptions including terms greater than one year, and from DDoS Protection-as-a-Service (“DDPaaS”) contracts.
4 Customer retention is defined as the percentage of annual recurring revenue retained from existing customers during the renewal cycle across the measurement period.
5 For the purpose of this announcement, the Group believes market consensus for FY 2026 to be revenue of $29.2 million and EBITDA of $3.3 million.
