Business
Final Results
Final Results.
About this update from Corero Network Security Plc
[{"type":"text","content":"\n\n1 April 2025\n\n \nCorero Network Security plc\n(\"Corero\" the \"Company\", or the \"Group\")\n \nAudited results for the year-ended 31 December 2024\n \n- Ongoing operational and financial progress underpinned by multiple new contract wins\n- Delivered solid topline growth and continued ARR momentum\n \nCorero (AIM: CNS) (OTCQX: DDOSF), the distributed denial of service (\"DDoS\") protection specialists, announces its audited results for the year ended 31 December 2024 (\"FY 2024\").\n \nFinancial Highlights\n \n· Revenue increased by 10% to $24.6 million (FY 2023: $22.3 million)\n· EBITDA1 grew 42% to $2.5 million (FY 2023: $1.8 million) at the top end of previous guidance\n· Annual Recurring Revenues2 (\"ARR\") grew 16% to $19.5 million (FY 2023: $16.9 million)\n· Order intake3 up 13% to $28.2 million (FY 2023: $24.8 million)\n· Over 70% increase in number of new customers versus FY 2023\n· Continued high customer retention at 97%\n· Strong new business pipeline for FY 2025\n· Profit before taxation of $0.6 million (2023: loss $0.2 million)\n· Gross margins of 91% (FY 2023: 90%)\n· Net cash at 31 December 2024 of $5.3 million (FY 2023: $5.2 million)\n· Earnings and diluted earnings per share of 0.1 cents (FY 2023: 0.0 cents)\n \nOperational Highlights\n \n· Significant contract momentum driven by competitor displacements, new mandates, partner outreach and contract extensions\no Includes key $1.8 million partnership with TierPoint LLC (\"TierPoint\"), with Corero replacing the business's incumbent provider, amongst other >$1 million deals\n· Bolstered the global sales team and increased strategic marketing activity spend by 43% year-on-year to help generate new prospects as well as deliver cross and upsell revenue opportunities\n· Introduced new features to SmartWall ONETM offering and launched Corero Observability & Resiliency Ecosystem (\"CORE\"), broadening the Company's access to commercial opportunities across the wider service availabili...