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Corero Network Security Achieves 16% ARR Growth, Driving Momentum into 2025

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Corero Network Security (DDOSF) reported strong financial results for FY 2024, highlighting its successful transition to a SaaS-based revenue model. The company achieved a 16% growth in Annualized Recurring Revenue (ARR) reaching $19.5 million, while order intake increased 13% to $28.2 million.

Key financial metrics include a 10% revenue increase to $24.6 million and projected EBITDA growth to $2.1-$2.5 million. The company demonstrated strong operational performance with a 70% increase in new customer acquisition and a 97% customer retention rate. Corero ended 2024 with $5.3 million in cash, no debt, and $4.8 million in new customer orders from Q4 expected to be collected in early Q1 2025.

The company also launched its new CORE platform in Q4, strengthening its position in DDoS protection services.

Corero Network Security (DDOSF) ha riportato risultati finanziari solidi per l'anno fiscale 2024, evidenziando la sua transizione di successo verso un modello di ricavi basato su SaaS. L'azienda ha registrato una crescita del 16% nel Ricavo Ricorrente Annualizzato (ARR), raggiungendo 19,5 milioni di dollari, mentre l'acquisizione di ordini è aumentata del 13%, raggiungendo 28,2 milioni di dollari.

I principali indicatori finanziari includono un aumento dei ricavi del 10%, toccando 24,6 milioni di dollari e si prevede una crescita dell'EBITDA tra 2,1 e 2,5 milioni di dollari. L'azienda ha dimostrato solide prestazioni operative con un aumento del 70% nell'acquisizione di nuovi clienti e un tasso di fidelizzazione dei clienti del 97%. Corero ha chiuso il 2024 con 5,3 milioni di dollari in cassa, senza debiti, e 4,8 milioni di dollari in nuovi ordini da clienti nel quarto trimestre, che si prevede saranno incassati all'inizio del primo trimestre 2025.

L'azienda ha anche lanciato la sua nuova piattaforma CORE nel quarto trimestre, rafforzando la sua posizione nei servizi di protezione DDoS.

Corero Network Security (DDOSF) informó resultados financieros sólidos para el año fiscal 2024, destacando su exitosa transición a un modelo de ingresos basado en SaaS. La empresa logró un crecimiento del 16% en los Ingresos Recurrentes Anualizados (ARR), alcanzando los 19,5 millones de dólares, mientras que la captación de pedidos aumentó un 13% hasta los 28,2 millones de dólares.

Las métricas financieras clave incluyen un aumento del 10% en los ingresos hasta los 24,6 millones de dólares y un crecimiento proyectado del EBITDA de entre 2,1 y 2,5 millones de dólares. La empresa demostró un sólido desempeño operativo con un aumento del 70% en la adquisición de nuevos clientes y una tasa de retención de clientes del 97%. Corero terminó 2024 con 5,3 millones de dólares en efectivo, sin deudas, y 4,8 millones de dólares en nuevos pedidos de clientes del cuarto trimestre que se espera sean cobrados a principios del primer trimestre de 2025.

La empresa también lanzó su nueva plataforma CORE en el cuarto trimestre, fortaleciendo su posición en los servicios de protección contra DDoS.

코레로 네트워크 보안 (DDOSF)는 2024 회계연도 강력한 재무 실적을 보고하며, SaaS 기반 수익 모델로의 성공적인 전환을 강조했습니다. 이 회사는 연간 반복 수익 (ARR)이 16% 증가하여 1950만 달러에 도달했으며, 주문 수익은 13% 증가하여 2820만 달러에 이르렀습니다.

주요 재무 지표에는 수익 10% 증가가 포함되어 있으며, 수익은 2460만 달러에 도달하고 예상 EBITDA 성장률은 210만 달러에서 250만 달러 사이입니다. 이 회사는 신규 고객 확보가 70% 증가했으며, 고객 유지율은 97%에 달했습니다. 코레로는 2024년을 530만 달러의 현금, 부채 없음, 2025년 1분기 초에 수금될 것으로 예상되는 480만 달러의 신규 고객 주문으로 마쳤습니다.

이 회사는 또한 4분기에 새로운 CORE 플랫폼을 출시하여 DDoS 보호 서비스에서의 입지를 강화했습니다.

Corero Network Security (DDOSF) a rapporté des résultats financiers solides pour l'exercice 2024, mettant en évidence sa transition réussie vers un modèle de revenus basé sur le SaaS. L'entreprise a réalisé une croissance de 16% des Revenus Récurrents Annualisés (ARR), atteignant 19,5 millions de dollars, tandis que les nouvelles commandes ont augmenté de 13% pour atteindre 28,2 millions de dollars.

Les indicateurs financiers clés incluent une augmentation du chiffre d'affaires de 10% pour atteindre 24,6 millions de dollars et une EBITDA projetée entre 2,1 et 2,5 millions de dollars. L'entreprise a démontré une solide performance opérationnelle avec une augmentation de 70% dans l'acquisition de nouveaux clients et un taux de fidélisation de 97%. Corero a terminé 2024 avec 5,3 millions de dollars en liquidités, aucune dette et 4,8 millions de dollars en nouvelles commandes de clients provenant du quatrième trimestre, qui devraient être encaissées au début du premier trimestre 2025.

L'entreprise a également lancé sa nouvelle plateforme CORE au quatrième trimestre, renforçant ainsi sa position dans les services de protection DDoS.

Corero Network Security (DDOSF) hat starke finanzielle Ergebnisse für das Geschäftsjahr 2024 gemeldet, die den erfolgreichen Übergang zu einem SaaS-basierten Einnahmenmodell hervorheben. Das Unternehmen erzielte ein Wachstum des annualisierten wiederkehrenden Umsatzes (ARR) von 16% und erreichte damit 19,5 Millionen US-Dollar, während der Auftragseingang um 13% auf 28,2 Millionen US-Dollar zunahm.

Wichtige Finanzkennzahlen sind ein Umsatzanstieg von 10% auf 24,6 Millionen US-Dollar und ein prognostiziertes EBITDA-Wachstum zwischen 2,1 und 2,5 Millionen US-Dollar. Das Unternehmen zeigte eine starke operative Leistung mit einem 70% Anstieg bei der Kundengewinnung und einer Kundenbindungsrate von 97%. Corero beendete 2024 mit 5,3 Millionen US-Dollar in bar, ohne Schulden und 4,8 Millionen US-Dollar an neuen Kundenaufträgen im vierten Quartal, die voraussichtlich Anfang des ersten Quartals 2025 eingezogen werden.

Das Unternehmen hat auch seine neue CORE-Plattform im vierten Quartal eingeführt, um seine Position im Bereich DDoS-Schutzdienste zu stärken.

Positive
  • 16% growth in ARR to $19.5M
  • 13% increase in order intake to $28.2M
  • 10% revenue growth to $24.6M
  • EBITDA growth to $2.1-$2.5M from $1.8M
  • 70% increase in new customer acquisition
  • 97% customer retention rate
  • Strong cash position of $5.3M with no debt
  • $4.8M in Q4 orders to be collected in Q1 2025
Negative
  • None.

Record $19.5M ARR and strong order growth cement Corero's leadership in SaaS-driven DDoS protection

MARLBOROUGH, Mass., Jan. 7, 2025 /PRNewswire/ -- Corero Network Security  (AIM: CNS) (OTCQX: DDOSF), the DDoS protection specialists, today announced a strong trading update for the year ended December 31, 2024. The Company continued to execute its growth strategy, delivering impressive financial results and advancing its transition to a SaaS-based revenue model, positioning it for sustained growth in 2025 and beyond.

Key financial and operational highlights for FY 2024 include:

  • Annualized Recurring Revenue (ARR) grew 16% to $19.5 million, driven by strong demand for subscription-based DDoS Protection as-a-Service (DDPaaS)
  • Order intake increased 13% to $28.2 million, reflecting growing customer adoption
  • Revenue rose 10% to $24.6 million, up from $22.3 million in 2023
  • EBITDA expected to grow to $2.1–$2.5 million, compared to $1.8 million in FY 2023
  • Over 70% increase in new customer acquisition
  • 97% customer retention rate, with a robust pipeline heading into 2025

Corero also ended FY 2024 in a strong financial position, with $5.3 million in cash and no debt. An additional $4.8 million in new customer orders invoiced in Q4 2024 is expected to be collected in early Q1 2025, providing further confidence for the year ahead.

"2024 has been a transformative year for Corero. We've delivered record-breaking ARR and robust order growth, while enhancing our go-to-market strategy and advancing our technology capabilities. Our transition to a SaaS-based model has not only strengthened our financial foundation but is also driving consistent and impressive results," said Carl Herberger, CEO of Corero.

In Q4, we launched our new CORE platform, underscoring Corero's commitment to innovation and reinforcing our leadership in DDoS protection. With an exceptional customer retention rate and the healthiest pipeline we've seen to date, I'm confident we'll deliver continued growth in 2025 and beyond."

About Corero Network Security
Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero's technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centers in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange's AIM market (ticker: CNS) and the US OTCQX Market (OTCQX: DDOSF).

 

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SOURCE Corero Network Security

FAQ

What was Corero Network Security's (DDOSF) ARR growth in 2024?

Corero Network Security achieved a 16% growth in Annualized Recurring Revenue (ARR), reaching $19.5 million in 2024.

How much revenue did DDOSF generate in fiscal year 2024?

Corero Network Security generated revenue of $24.6 million in FY 2024, representing a 10% increase from $22.3 million in 2023.

What was DDOSF's customer retention rate in 2024?

Corero Network Security maintained a 97% customer retention rate in 2024.

How much cash did DDOSF have at the end of 2024?

Corero Network Security ended FY 2024 with $5.3 million in cash and no debt.

What was DDOSF's projected EBITDA for 2024?

Corero Network Security's EBITDA was expected to grow to $2.1-$2.5 million in 2024, compared to $1.8 million in FY 2023.

What new product did DDOSF launch in Q4 2024?

Corero Network Security launched its new CORE platform in Q4 2024, reinforcing its leadership in DDoS protection.

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