Corero Network Security plc AIM:CNS
- Incorporated
- United Kingdom
- Chief executive
- Carl Herberger
- Employees
- 91
- Reports in
- USD
- Companies House
- 02662978
Read straight from the annual reports
11.5c at close on 5 Oct 2026 · 11 reported years, 2015–2025
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USD millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
11 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Shift to subscription/DDPaaS model driving ARR growth
ARR increased 23% to $23.9 million (2024: $19.5 million), driven by a marked change in customer buying preference towards subscription-based solutions
page 16Order intake / bookings growth
Order intake increased by 20% to $33.8 million (FY2024: $28.2 million)
page 2Software-led gross margin
Gross margins remained strong in 2025 at 90.1% (2024: 91.3%), consistent with the software-led nature of Corero's solutions and continued operational discipline
page 16Reduced upfront appliance/licence sales mix
Modest revenue growth, lower than expected, due to a period of change as customers accelerated their adoption of DDoS Protection-as-a-Service and subscription solutions; this resulted in a reduction in upfront appliance and licence sales
page 12Corero exited 2025 with strong sales momentum having generated good growth in the second half of the year. Our sales pipeline remains strong, supported by a combination of our sales and marketing efforts alongside our growing partner network.
page 14There have been no events after the balance sheet date which require disclosure (Group and Company)
page 43Financial statements prepared on a going concern basis. Directors reviewed detailed income statement, balance sheet and cash flow projections for the period to 31 March 2027. Group secured a £1.5 million overdraft facility in 2025 (undrawn at year end, no outstanding debt at 31 December 2025). Auditor MHA (MHA Audit Services LLP) issued an unqualified opinion; group materiality $450,000 (1.8% of revenue), parent company materiality $445,000; key audit matters: risk of fraud in revenue recognition (recurring), capitalisation of development costs (recurring - existence and valuation), and carrying value of investments/impairment at the Parent Company (recurring - valuation)
page 42- Revenue growth - failure to achieve sustained order intake or revenue growth could constrain the Group's ability to execute its strategic objectives, dependent on effective go-to-market and partner relationshipsp.25
- Technology change and competitive threats - rapid technological change in the DDoS mitigation market and competitors introducing new products/capabilities that challenge Corero's positioningp.25
- Attracting and retaining talent - highly competitive cybersecurity market for skilled professionals; failure to attract/retain impacts innovation and execution of strategy and growth plansp.25
- Market awareness and brand positioning - insufficient digital marketing or reflexive market positioning could limit growth opportunities and customer acquisitionp.25
Read from C000325-AR-2025-ch.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 7 Apr 2027