Corero Network Security PLC (AIM:CNS, OTCQB:DDoSF) reported a 25% rise in annualised recurring revenue (ARR) to $21.6 million in the first half of 2025, driven by customer demand for its DDoS Protection-as-a-Service (DDPaaS) solutions.
The cyber-security firm said revenue was down 10% year-on-year, to $10.9 million, as more of its income shifted to subscription contracts. Order intake was $12.5 million, down 12% from the prior year, though second-quarter orders rebounded 13% to $7.8 million.
The shift to recurring revenues contributed to an EBITDA loss of $1.4 million, versus a $0.7 million profit in the same period last year.
Chief executive Carl Herberger told investors he is pleased with the rebound in the second quarter order intake, and demand for our recently expanded product offering.
"The strong growth in ARR in the first half of the year, underpinned by the accelerated customer demand for DDPaaS solutions, will deliver more predictable revenues. We continue to see the shift in customer demand away from upfront licenses to ARR," Herberger.
"The company is focused on delivering revenue growth in the second half of 2025 over the prior year by continuing to build the new business pipeline and expanding our global partner network."
In Tuesday's early deals Corero shares climbed to reach as high as 9.5p, and by the afternoon was marked at 9.4p.