Corero Network Security Share Discussion Threads

[melton john] 11/4/2024 08:52

That price graph says take profits if you want to be locked out. Two contracts in as many weeks. Equity Developement are saying worth 14p.

[andyview] 11/4/2024 08:12

Continued good news here

Gla

[melton john] 03/4/2024 14:35

Thinking back to an earlier report, I remember that ARR is enough to sustain the company and without any debt, new contracts should go straight to the bottom line. We have a typically optimistic (for a SAAS company) market cap but I'm confident that will soon be history as operational gearing kicks in.

[skid35] 03/4/2024 13:22

Listened to the recording, seem to really be on the right track and the non exec parking so much cash seemed to underline a share price of 9p. On the RNS, Akamai? What was missing was the ARR growth from the deal.With cash in the bank just watching and waiting here.

[melton john] 03/4/2024 08:13

Encouraging $2m+ contract for DDOS mitigation software.

[melton john] 28/3/2024 11:48

A very good confident informative presentation with some very good questions, worth a listen/watch.

[edmonda] 28/3/2024 11:00

Corero Network Security - Investor Presentation (FY23 Results) - video recording now available

Carl Herberger, CEO, and Phil Richards, CFO, of Corero Network Security plc (AIM: CNS) held an Investor Presentation covering their Full Year results.

Management ran viewers through highlights of the period and progress made in 2023, with a detailed look at the investment case including the significant addressable market and Corero's competitive advantage. The team provided a financial overview, discussed strategy and outlook, and answered a range of questions from investors.

The full investor presentation has been divided into chapters, as below:
0:00:10 About Corero
0:01:32 FY23 – a year of ongoing progress
0:03:59 Investment case
0:12:23 Financial summary
0:15:44 Strategy & Outlook
0:19:49 Questions & Answers

Link:

[edmonda] 27/3/2024 07:38

"Debt free with growing margins - we upgrade"

For FY23, Corero delivered double digit annualised recurring revenue (‘ARR’) growth; we see this momentum continuing into FY24E and have upgraded our forecasts accordingly.

The retirement of all debt, including an inter-company loan, leaves the balance sheet ungeared and clean of FX movements which made reported margins historically volatile.

We see normalised EBITDA margins of 10%+ going forward and potentially rising further. The growth in revenues leaves the stock trading on a forward rating of only 1.8x EV/Sales. This stock has both defensive and growth qualities which should support a higher rating going forward and we reiterate our fair value of 14p price/share.

Link to new research report:

[andyview] 11/3/2024 10:12

Added a few today and excited about upcoming results and investor presentation

Gla

[andyview] 07/3/2024 10:11

More positive news today, keep it coming…

Gla

[melton john] 01/3/2024 12:05

Apologies for my terse response, I was away from my computer and using my phone. Completely missed the announcement. I hate the app for reading and posting and usually avoid it. I think using "over the counter" is just a cheaper way of US exposure than Nasdaq etc. but don't anticipate a fund raising. A rising share price would be welcome though WDIK.

[ianhamo] 29/2/2024 14:41

I was merely asking a question. If they are listing in the US to gain exposure to investors, does this imply a fund raising is on the horizon?

[melton john] 29/2/2024 14:28

Perhaps you could explain why you think that would be the case. The company is debt free and self sustaining, the main reasons for fund raisings. Have I missed something? Are you on the right thread?

[ianhamo] 29/2/2024 13:47

Doesn't this imply there will be a fund raising soon?

[andyview] 29/2/2024 12:31

Positive step and hopefully increase and visibility and possibly demand

Gla

[andyview] 22/2/2024 08:38

Taken a few more today, difficult to buy size

looks good with consistent buying yesterday and more today.


gla

[andyview] 21/2/2024 08:17

Added a few here today, previous hold and long term watch

Gla

[edmonda] 21/2/2024 08:10

"New partnership supporting growth" - research note here:

Corero has announced a new partnership agreement with TechEnabler, a Brazilian network solutions provider. Latin America is a relatively untapped market for Corero and this agreement should yield considerable upside as it develops. We continue to see fair value at 14p and upside risk to our current forecasts.

Kentik channel partner. TechEnabler is a Kentik channel partner and integrator headquartered in Sao Paulo, Brazil. Kentik is a US based network observability platform which visualises cloud and network traffic. Kentik enables the resolution of any troubleshooting problems many times faster than normal and helps mitigate cyber-attacks.

$1m+ booked. The partnership agreement has already generated bookings for Corero’s products and services in excess of $1m as part of its Scrubbing-as-a-Service offering.

Strong trading in FY24E. Corero recently highlighted that revenues for FY24E are to be in the region of approximately $22.3m, indicating YoY revenue growth of +11%. Corero closed last year with annualised recurring revenue (ARR) showing even stronger growth of +17% YoY to $16.9m.

Debt free. Corero is now debt free and, with a very experienced CEO Carl Herberger now onboard, it can focus on executing a growing pipeline of new business. We see plenty of capacity for upside risk to our FY24E forecasts. The business is self-sustaining and, in our view, undervalued on an EV/sales ratio of 1.8x this year.

[melton john] 16/2/2024 08:20

Non-exec buys 2M shares plus exercise of options.

[melton john] 14/2/2024 16:56

Big trades today. It looks like an off-market deal, maybe an rns will be forthcoming.

edmonda Your link didn't work so I've copied the pdf link.
Couldn't do the full link so Copy and paste this.

www.equitydevelopment.co.uk/hubfs/Research/Corero/Corero Network Security 17 January 2023.pdf

[chrisdgb] 26/1/2024 10:28

Quiet board, struggling with the valuation on this one...any fresh thoughts?

[edmonda] 17/1/2024 07:48

"Confirmed double digit growth in ARR"

Corero’s trading update points to double digit ARR growth and a significant beat to our FY23E EBITDA forecast. We have upgraded our full year numbers to reflect this strong bottom line performance. The new Akamai partnership has already brought two new customers to the Group and we expect to see continued momentum from this route to market.

We have left our FY24E forecasts unchanged for now. but, with a new CEO, Carl Herberger, onboard and an excellent pipeline of new business, we see plenty of capacity for upside risk to our FY24E forecasts. The business is self-sustaining and, in our view, undervalued on an EV/sales ratio of 1.8x this year. We continue to see fair value at 14p, with the potential to rise.

Link to report:

[edmonda] 13/10/2023 12:04

New content out on Corero Network Security worth a look!

In a double-header, we're pleased to publish our latest note from Simon Strong on the detail & ramifications of the Akamai deal announced last month.

And in a short 4 minute interview, Ashley Stephenson (Chief Technology Officer) takes viewers through key questions around DDoS attacks and how progress Corero are making on several fronts is translating into financial success.

The video is here:

Research note: