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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SOURCE Corero Network Security