Corero Network Security Delivers Strong Performance in 2020
AMERSHAM, England, Jan. 26, 2021 /PRNewswire/ -- Corero Network Security plc (AIM: CNS.L), a leading provider of real-time, high-performance DDoS defense solutions delivers record-breaking growth in 2020 and sees strong momentum heading into 2021.
Corero continued to build on its record H1 2020 performance with increased order intake and revenue growth in H2 FY20. As a result, the leadership team now expects the Company to report FY 2020 revenue ahead of market revenue expectations. This strong performance has been driven by the continued success of Corero's cutting edge, real-time, always-on SmartWall® DDoS defense solutions.
2020 highlights include:
- Order intake for the year increased ~61% due to strong contributions in North America as well as greatly improved results in EMEA and increased activity in both LATAM and APAC
- Corero added 42 new customers in 2020, of which 17 were acquired through Corero's strategic partner, Juniper Networks
- Revenue for the year is expected to have increased by ~73%
- Annualized Recurring Revenues increased by ~36% as of 1 January 2021, driven by growth in DDoS Protection-as-a-Service and software subscription orders
Lionel Chmilewsky, Corero's CEO, said:
"I am extremely pleased with our record-breaking performance, all of which has been achieved against the ongoing and uncertain economic backdrop brought on by this global pandemic, which has changed the way many companies do business. Since joining the company in May of 2020, we also continued to make excellent strategic progress; expanded in many new countries, and now have our solutions deployed in 40 countries, won contracts with many more tier one and major customers and continued to successfully leverage our strategic and business partnerships such as those with Juniper, GTT and others."
About Corero Network Security
Corero Network Security plc is a global leader in real-time, high-performance, automatic DDoS cyber defense solutions. Both Service and Hosting providers, alongside digital enterprises across the globe rely on Corero's award winning cybersecurity technology to eliminate the threat of Distributed Denial of Service (DDoS) to their digital environment through automatic attack detection and mitigation, coupled with network visibility, analytics and reporting. Corero's industry leading SmartWall and SecureWatch technology provides scalable protection capabilities against external DDoS attackers and internal DDoS botnets in the most complex edge and subscriber environments, while enabling a more cost-effective economic model than previously available. Corero's key operational centers located in Marlborough, Massachusetts, USA and Edinburgh, UK, with the Company's headquartered in Amersham, UK. The Company is also listed on the London Stock Exchange's AIM market under the ticker CNS. For more information, visit www.corero.com, and follow us on LinkedIn and Twitter.
Enquiries
Brian J. Hawthorne
Corero Marketing
+1 978-212-1523
Brian.Hawthorne@corero.com
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