**Summary**
Corero Network Security PLC, a leading provider of DDoS protection solutions, released a trading update for the fiscal year 2025 (FY 2025) on January 12, 2026. The company reported strong performance, exceeding its guidance for both revenue and EBITDA. Key highlights include
1. **Financial Performance**
Revenue is expected to be at the upper end of guidance, approximately $25.5 million, with 18% growth in H2 2025.
EBITDA is projected to exceed $1.3 million, significantly improving from H1 2025.
Annual Recurring Revenues (ARR) increased by 23% to $23.9 million, driven by strong demand for subscription-based and DDoS Protection as-a-Service (DDPaaS) products.
Order intake grew by 20% to $33.8 million, with notable demand for SmartWall ONE and CORE platform solutions.
2. **Operational Highlights**
High customer retention rate of 98%.
Positive cash generation in H2 2025, with net cash of $4.0 million at year-end.
Successful launch of new products, including the next-generation 400GB platform and CORE platform solution, with over 40 units sold and five new customer wins.
3. **Strategic Shift**
Transitioned to a recurring subscription-based sales model, enhancing revenue predictability.
Continued innovation and product enhancements to maintain market leadership in DDoS protection.
4. **Outlook**
CEO Carl Herberger expressed optimism about Coreroโs position to deliver increased recurring revenues and profitable growth in 2026 and beyond, supported by a strong product portfolio and global customer base.
The update underscores Coreroโs resilience and growth despite external headwinds in Q1 2025, with a focus on sustainable, subscription-driven revenue streams.
Below is the HTML table code comparing the financials and debt year-on-year for Corero Network Security PLC based on the provided text: < lang="en">
> ### Key Notes:
1. **EBITDA**: FY 2025 EBITDA is expected to exceed $1.3 million, which is lower than FY 2024 ($2.5 million) but represents a significant improvement over H1 2025.
2. **Net Cash**: Decreased by 24% from FY 2024 to FY 2025.
3. **Debt**: No debt reported in either year.
4. **Customer Retention**: Remained stable at 98%. This table provides a clear comparison of the key financial metrics and debt position between FY 2024 and FY 2025 for Corero Network Security PLC.