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Corero Network Security sees revenue up 48% in H1 on new business wins

By BFN News | 07:34 AM | Monday 13 July, 2020


Cybersecurity company Corero Network Security said it expected revenue to increase 48% in the first half of the year, supported by new business wins. For the six months ended 30 June 2020, revenue was expected to increase to $6.2m as order intake jumped by 58% to $7.9m on-year. Annualised recurring revenues increased in the first half to $8.8m on 1 July 2020, driven by growth in DDoS protection-as-a-service and software subscription orders. 'I am very pleased to see the momentum achieved in the first half of the year including the addition of 18 new customers, a growing pipeline and an increased number of deployed proof of concepts,' said Lionel Chmilewsky, chief executive officer of Corero. Story provided by StockMarketWire.com

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