Corero Network Security PLC (AIM:CNS) said it expects to post an underlying profit for the first time in the year ending 31 December 2021.
The Distributed Denial of Service (DDoS) cyber defence specialist said while revenue would broadly be in line with forecasts, underlying profit [EBITDA] will come in ‘significantly above market expectations and a positive number’.
That follows an underlying profit of US$100,000 at the half-way point on sales of US$8.3mln.
It put the better-than-expected EBITDA down to improved gross margins and lower operating costs.
The scale of profitability, however, is still dependent on the remaining sales opportunities that are to be closed by the end of the year, with a more comprehensive update to be provided in January 2022.
Corero made an underlying loss of US$1.4mln in 2020 and US$3.2mln in 2019.
Shares in Corero were trading at 13p at the time of publication, up 19%.