Corero Network Security is dedicated to improving the security of the Internet through the deployment of its innovative First Line of Defense® DDoS protection solutions. Corero SmartWall® Threat Defense System provides our customers with real-time protection against a continuously evolving spectrum of DDoS attacks that have the potential to impact any Internet connected business. Corero provides the opportunity to enhance defense-in-depth security architectures with an important additional layer of security capable of inspecting traffic arriving from the Internet and alerting and or blocking attack traffic before it impacts your environment.

The goal of the Corero First Line of Defense DDoS protection solution is to protect the customer’s network infrastructure, online services and confidential data against DDoS attacks. Corero solutions are designed to be always on providing automatic attack mitigation with continuous threat visibility and network forensics.

The Corero First Line of Defense solution provides comprehensive, real-time DDoS protection against the latest breed of attacks, including network and application layer DDoS attacks, volumetric, multi-vector attacks and access attempts from IP addresses with a bad reputation or from unwanted geo-locations. These varied cyber-threats have the potential to challenge traditional network security defenses and compromise networks.

With varied mitigation bandwidth licensing options, Corero provides the most comprehensive peer-point protection, at industry disrupting economic scale. Corero real-time DDoS protection can be obtained at a fraction of traditional solutions.

In a Hosting Provider environment, the Corero First Line of Defense DDoS prevention solutions allowing providers to offer comprehensive DDoS and cyber threat protection to their hosted customers as an extension of their current service offerings, improving their overall value proposition and providing an opportunity to offer differentiated value added security services.

DDoS protection

Internet Service Providers can take advantage of the Corero technology and addresses the DDoS challenge by delivering cloud based DDoS protection with always on, threat protection and visibility for their customers.

In an Enterprise environment, the Corero solutions are designed to be deployed in front of traditional or next generation firewalls, IPS, ADC and other IT security infrastructure devices, preventing access to your network by untrusted and unwanted traffic, leaving enterprise networks at a reduced risk of having their web presence taken down or compromised as a result of a DDoS attack.


Award-winning DDoS protection products and services from Corero are securing hosting providers, service providers and online enterprises around the world, allowing them to guarantee accessibility and ensure business success. In addition to the Corero on-premises appliances, the Corero SecureWatch® Service offers our customers 24/7 security monitoring and access to the Corero SOC staffed by experts in the mitigation of sophisticated cyber-attacks.

Corero US headquarters are located in Hudson, Massachusetts, and its European headquarters are in London, England with additional offices throughout the world.

Corero Network Security plc ("Corero" or "the Company") is listed on the Alternative Investment Market (AIM) of the London Stock Exchange. Its ordinary shares carry the EPIC symbol CNS.

Unaudited interim results for the six month period ended 30 June 2018
Corero Network Security plc (AIM: CNS), the AIM listed network security company, announces its unaudited interim results for the six month period ended 30 June 2018.

Financial Highlights:
· Group revenue of $5.0 million (H1 2017: $4.8 million)

o SmartWall revenue up 39.3% versus H2 2017 to $4.9 million (and up 11.9% versus H1 2017)

o Recurring revenue increased to 47.7% of total revenue (H1 2017: 40.7%)

· EBITDA* loss halved to $1.4 million (H1 2017: loss $2.9 million)

· Adjusted operating costs** 18% below H1 2017

· Loss before tax of $3.0 million (H1 2017: loss $4.6 million)

· Loss per share 0.9 cents (H1 2017: loss per share 1.9 cents)

· Successful equity fund raise in April 2018 of $5.4 million (after costs)

· Net cash at 30 June 2018 of $5.0 million (30 June 2017: $5.1 million)

* EBITDA loss is defined as loss before depreciation, amortisation, financing, tax and unrealised foreign exchange differences on an intercompany loan

** Adjusted operating costs is defined as costs before depreciation, amortisation, financing, tax and unrealised foreign exchange differences on an intercompany loan

Operating Highlights:
· Average new customer order intake value maintained at $0.35 million (H1 2017: $0.35 million)

· Follow-on orders from existing customers of $2.3 million (H1 2017: $1.4 million)

· Continued high levels of customer delight

o Services renewal rate remained strong at 93% (H1 2017: 96%)

Post Period Highlight
· Signed global resale partnership with Juniper Networks (NYSE: JNPR)

o Expected to materially contribute to revenue growth in 2019

Full Year Trading Update and Outlook
· Progress in H1 2018 supported by a growing H2 2018 pipeline of new business opportunities

· With a positive security market backdrop and the recently announced global resale partnership with Juniper Networks, the Board is positive about the trading prospects for the Company

· Board remains confident that revenue for the year ending 31 December 2018 will be in-line with market expectations with significantly reduced losses

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Ashley Stephenson, CEO of Corero, commented:
"I am pleased to report that we have made a solid start to 2018 and continue to make good progress implementing our growth strategy. Our focus on developing go-to-market partnerships is gathering significant momentum, evidenced by yesterday's announcement regarding the global agreement with Juniper Networks to resell Corero's SmartWall DDoS protection software and services.

"We anticipate our go-to-market partner relationships will deliver incremental revenue in H2 2018. The partnership with Juniper Networks is expected to materially contribute to revenues in 2019 as the relationship expands and their worldwide sales team is engaged.

"The global market for DDoS defence solutions is projected by leading analysts to grow strongly for the foreseeable future. This demand, together with our market leading SmartWall technology and expanding partner network, underpins our confidence in our ability to expand our business and market share."

StockMarketWire.com
Corero Network Security said Monday it had secured a $2.0m equity investment from Juniper Networks.

The investment comes after Juniper on 25 Sept., agreed to a multi-year global resale partnership to resell and support Corero's SmartWall software products and services.

The proceeds from the investment would provide Corero with additional funding headroom to deliver on its objective of generating cash and positive earnings (EBITDA) during 2019.

Juniper purchased 17,008,969 new ordinary shares at a subscription price of 8.9p a share.

'We welcome this investment from a global corporation of Juniper Network's reputation and scale, in addition to our previously announced global resale partnership. We feel this represents a further endorsement of our vision for SmartWall products as a critical component in securing IT networks from DDoS attacks,' said Ashley Stephenson, Corero CEO.

'We look forward to working closely with Juniper to capitalise on our partnership and jointly pursuing the market opportunity for DDoS protection via its global sales force and channel.'

StockMarketWire.com
Corero Network Security said Tuesday it had won $0.6m order for its 100Gbps cybersecurity software from a global cloud security company and also announced an existing customer had expanded an order by $0.4m.

The $0.6m new customer order was for multiple SmartWall 100Gbps products with supporting SecureWatch services for one year, Corero said.

The $0.4m existing customer order, which included multiple SmartWall products with supporting SecureWatch services for three years, formed part of this customer's ongoing global deployment of SmartWall, it added.

Further orders were anticipated from both customers in the final quarter of 2018 as part of their ongoing expansion and SmartWall deployment plans, Corero said.

StockMarketWire.com
Corero Network Security on Wednesday won three customer orders totaling over $1.0m for its cyber security services and products.

The three customer orders included a $0.5m 1-year expansion order for Corero's SmartWall 100Gbps technology from an existing customer; a $0.3m DDoS Protection as a Service 3-year order with a new global hosting and colocation provider customer; and a $0.2m support and SecureWatch managed security services contract renewal.

'These customer wins are demonstrative of the increasing traction we are seeing across our DDoS mitigation solutions, and in particular, our 100Gbps SmartWall technology as the adoption of faster and more economic 100Gbps links accelerates. This is evidenced by the $2.0 million order intake our SmartWall 100Gbps solution has generated in the last 12 months since launch,' said Andrew Lloyd, Corero President and EVP Sales and Marketing.

'In addition, the SmartWall early adopter customer renewal we have secured reflects our high levels of customer satisfaction that we pride ourselves on and which underpin our exceptionally high subscription and support renewal rates.'

StockMarketWire.com
Cyber security company Corero Network Security said Thursday it expected to halve full-year earnings losses from a year earlier even as revenue growth was expected to fall short of expectations.

For the year ended 31 December 2018, earnings (EBITDA) losses was expected to be approximately $2.5m, from a loss $5.0m seen a year earlier, and revenue was expected to be approximately $10.0m, up from $8.5m a year earlier but lower than expected.

The company blamed the lower-than-expected revenue on a 'longer time required to ramp up new go-to-market partners and secure contracts.'

Order intake for the year was expected to be approximately $11.0m, representing growth of about 20% over the prior year's $9.3m.

The company said it expected to report a record final quarter amid strong demand for the Company's SmartWall Threat Defense System in the second half of the year.

Overheads were expected to be approximately 10% below the prior year. Looking ahead, the company said it would focus on 'delivering revenue growth, adding new customers, and targeting being EBITDA positive and cash generative by the end of 2019.'

'Corero enters 2019 following a year of solid growth in revenue and order intake and with a significant resale partnership agreement in place with Juniper Networks. We are excited about the prospects in the medium term, with the DDoS mitigation market fundamentals remaining strong and market analysts forecasting double digit growth,' said Ashley Stephenson, Corero CEO.