Corero, the distributed denial of service (DDoS) protection specialist, has reported solid growth for the first half, ended 30 June, 2024, helped by its increased partner numbers.
Group revenue was up 16% annually to $12.2m, and annualised recurring revenues rose 12% to $17.2m.
The EBITDA profit came in at $700,000, compared to a $200,000 loss last time. Gross margins remained high and consistent at 91%. The company is debt free with a net cash balance of $7.9m.
The supplier secured new sales partnership agreements, broadening its footprint in Latin America, Europe and the US.
Carl Herberger, chief executive officer at Corero, said: “I am confident our reinvigorated go-to-market strategy will deliver on the ambitious growth targets we have set.
“Our ARR growth demonstrates the long-term value and trusted customer relationships we continue to develop, whilst our strong balance sheet provides us with the foundations to build on our current growth trajectory.”
He added: “As DDoS attacks continue to surge and nascent trends emerge, we remain in prime position to grow our share of the DDoS protection market. We are focused on new business and channel partnership opportunities to ensure corporations are effectively safeguarded from these highly disruptive and harmful cyber attacks.”
