Corero Network Security — Ending 2025 with exceptional orders
12/01/2026
Corero Network Security had an excellent end to 2025, with an exceptional level of order intake in the final quarter. After the challenges seen earlier in the year, the progression of order intake over H225 and the increase in annualised recurring revenue (ARR) demonstrate a business now fully aligned to, and benefiting from, a customer shift towards subscription-based purchasing. While we keep our forecasts unchanged, they are looking increasingly conservative given the current levels of demand and sales execution.
Corero Network Security — Market share gains in an expanding market
10/11/2025
Corero Network Security is a leading provider of distributed denial-of-service (DDoS) detection and mitigation solutions. Its innovative technology, which is hardware agnostic, offers customers many advantages over other solutions. We expect Corero to achieve market share gains in a growing addressable market. Our valuation analysis suggests upside to the current share price of between 35% and 76%.
Corero Network Security – executive interview
03/10/2025
In this interview, Dan Ridsdale speaks to Carl Herberger, CEO of Corero Network Security. Carl discusses the performance of the business over H125 and the marked transition currently being seen as customers move to purchasing the subscription distributed denial-of-service (DDoS) protection as a service option, as opposed to a traditional capex purchase of perpetual licences. This is an important and favourable evolution for the business, creating a more resilient recurring revenue stream that will create a much-reduced risk profile for the business longer term. Momentum in this transition drove a more than 25% y-o-y increase in annual recurring revenue (ARR) as of June 2025. Carl also discusses some of Corero’s key new product releases that are expanding the company’s addressable market opportunity. This should allow continued market share gains, supporting attractive ARR growth that continues to exceed the already attractive industry growth. Corero Network Security (AIM: CNS, OTCQX: DDSOF) is a leading provider of real-time, adaptive DDoS attack detection and mitigation solutions, protecting organisations against external and internal threats and ensuring an ability to continually operate web-based services.