Corero boosts recurring revenue and H2 momentum as DDoS demand surges

An announcement from Corero Network Security ( (GB:CNS) ) is now available.

Corero Network Security, a specialist in DDoS protection and real-time automated mitigation, reported 2025 revenues of $25.5 million with adjusted EBITDA of $2.0 million, as it continued shifting from upfront appliance and licence sales to subscription and DDoS Protection-as-a-Service models. The company’s annual recurring revenue rose 23% to $23.9 million and order intake increased 20% to $33.8 million, supported by strong second-half sales, robust customer retention and a major $6.8 million renewal and expansion contract with a leading U.S. cloud provider.

Despite posting a small pre-tax loss of $0.7 million and a year-end net cash position that eased to $4.0 million, Corero generated positive cash in the second half and secured an undrawn £1.5 million overdraft to bolster short-term liquidity. Management highlighted a strong start to 2026, a solid new business pipeline and escalating global cyber threats as drivers of ongoing demand, positioning the group to benefit from recurring revenue growth, broader geographic reach and deepening channel partnerships, even amid wider economic uncertainty.

The most recent analyst rating on (GB:CNS) stock is a Hold with a £14.00 price target. To see the full list of analyst forecasts on Corero Network Security stock, see the GB:CNS Stock Forecast page.

Spark’s Take on CNS Stock

According to Spark, TipRanks’ AI Analyst, CNS is a Neutral.

The score is primarily supported by improving financial performance (revenue growth and a return to profitability) and a low-leverage balance sheet. Offsetting this are cash-flow quality concerns (negative free cash flow) and stretched technical conditions (RSI near 90). Valuation is also a headwind given the negative P/E and lack of dividend yield data.

To see Spark’s full report on CNS stock, click here.

More about Corero Network Security

Corero Network Security is a London-headquartered provider of distributed denial-of-service protection solutions, offering real-time, automated detection and mitigation with deep network visibility and analytics. The company safeguards critical infrastructure across inline, edge and hybrid cloud deployments, is developing its CORE observability and resiliency ecosystem, and serves a global blue-chip client base from operations in the U.S. and U.K., with listings on AIM and the U.S. OTCQX market.

Corero has been expanding its geographic footprint, gaining traction in Latin America and the Middle East where rapid digitalisation is lifting demand for its offerings. Its market position is underpinned by high customer retention, strong channel partnerships with firms such as Juniper and TechEnabler, and continuing investment in product innovation including its next-generation 400GB platform and CORE platform solution.

Average Trading Volume: 341,318

Technical Sentiment Signal: Sell

Current Market Cap: £58.9M

Learn more about CNS stock on TipRanks’ Stock Analysis page.