Corero Network Security (LON: CNS), an AIM-listed provider of DDoS protection technology that defends networks against attacks designed to knock services offline, saw its shares jump 10% on Wednesday after the company said it had signed $3.9m of new contracts with a UK tier-1 telecom operator and a global NeoCloud operator.
Shares touched 8.0p in early trade, up 10.34% from Tuesday’s close of 7.25p, on volume of more than 1.15 million shares. The move partially reverses a decline that has taken the stock from around 12.5p in early May to Tuesday’s close, and it remains well below the 52-week high of 13.5p, though above the 52-week low of 6.5p.
According to Proactive Investors, the larger deal, worth $3.4m over five years, will see Corero’s SmartWall ONE and CORE platforms deployed at an unnamed UK tier-1 telecom operator, with Layer 7 TLS protection supporting compliance with the UK Telecommunications Security Act and the incoming Cyber Security and Resilience Bill. A separate three-year, $0.5m contract covers real-time DDoS protection across two data centres for a major global NeoCloud operator, the newer class of cloud provider built around AI and GPU workloads.
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The wins land against a backdrop of steady underlying growth: Corero’s annual recurring revenue rose 23% to $23.9m in FY2025, with order intake up 20% to $33.8m, even as the company posted a $0.7m pre-tax loss versus a $0.6m profit in FY2024. The new contracts extend that order momentum into critical national infrastructure and AI data-centre markets.
At a market capitalisation of around £37m, Corero remains a thinly traded microcap where a single contract announcement can move the shares sharply in either direction, underlining the volatility that comes with speculative, loss-making small-cap cybersecurity names.
