Corero Network Security Share Discussion Threads

[rolo7] 08/1/2016 12:48

wow, lack of stock here tightly held. I am a little confused the rns today seem incomplete, share options for who and how many? Cant sell until after the 2nd year seem to be interesting piece. just found it of the cns website 1.5million shares!

[spike_1] 08/1/2016 12:31

Just to say hello - dipped my toe in over the last 3 days (15k)following a brief mention on a finance site email, and subsequent research.

Best wishes - Mike

[brahmsnliszt] 08/1/2016 11:53

no stopping this it seems. and I was happy getting out at 23.50 area. Will remain on watchlist.

[cottoner] 08/1/2016 07:17

Senior Sales Appointment bearing fruit.

Three of the recently announced contract wins have been in America.

Last year CNS announced the following appointment:

Scott Prouty has been appointed Senior Vice President of Sales, North America. Prior to joining Corero, Prouty served as Vice President of Service Provider Sales, North America for RedSeal Networks. In this position, he led the sales and go-to-market strategy for building the company's service provider customer base, which included some of the largest service providers in North America. Previously, at Arbor Networks, Prouty held the position of Vice President Sales, Americas and as founder of the sales organisation, he led the company to rapid growth.

Will rapid growth also be achieved at CNS?

[cottoner] 08/1/2016 06:47

Global DDoS Prevention Market 2015-2019


Technavio's analysts forecast the global DDoS prevention market to grow at a CAGR of 22.92% over the period 2014-2019.


Corero Network Security is listed among the key vendors.

[cottoner] 07/1/2016 14:08

Shares Mag article

Corero getting act together?


It’s a reasonable question given the firm’s patchy (to say the least) performance. This is an IT security company, albeit, a small one, but it couldn’t ask to be in a hotter spot (this is what Shares wrote in a feature back in 2013, and here’s our most recent cyber security feature). Yet in the four and half years that Corero Network Security (CNS:AIM) has been a distributed denial of service, or DDoS, cyber attacks defence specialist it has faced dribbling revenue declines and has yet to make a profit.

Last year, to 31 December 2014, it posted revenues of $7.48 million (down 27%), ran up operating losses in excess of $10.4 million and chalk-up a $7.1 million loss even under its preferred EBITDA measure (earnings before interest, tax, depreciation and amortisation), which is basically operating profits with the effects of the depreciation and amortisation stripped out, a typical metric for software businesses.


Half year figures for this year, published on 30 September, showed things were a bit better. Revenues were up a bit ($4 million versus $3.7 million H1-on-H1), EBITDA losses down a bit (from $3.9 million to $3.5 million) but it still managed to burn through more than $4 million of cash.
Which makes recent contract successes all the more vital. It has been pushing its SmartWall threat defence system since February 2014 and it today (6 January 2016) bagged it first contract with a major Tier-1 internet service provider (ISP) in Europe, and that sparks a 13%-plus share price jump to 18.75p.

‘This is not a trial or Proof of Concept but a fully operational DDoS protection service, managed by the provider on behalf of its customer,’ points out CEO Ashley Stephenson today. ‘We look forward to pursuing additional DDoS protection service deployments with this Tier-1 provider and other leading ISP’s across Europe.’
OK, worth just $700,000, big deal you might think. But this is the latest in a trend, a welcome line of new business that is getting ever longer.

It comes just a day after sealing a similar deal with an internet hosting supplier in the US, and that was won less than a month after securing a Tier-1 ISP in the States on 10 December. Go back to early October, you’ll find the announcement of a FTSE 100 company to sign-up, plus there was another American ISP in September, albeit a smaller, regional supplier.
Add these deals together and their value tots-up to $2.5 million of new business, and that’s without the December contract, where no financial details were given. But pretty decent going since Corero went cap in hand to investors for £5 million fresh cash to fuel growth.


No need to get any bunting out yet, there’s plenty to do but it might be just worth whispering… perhaps the Corero worm is finally turning.

[romeo] 07/1/2016 13:00

napoleon 14th - good to see you around again! Let's hope 2016 is our year!

[cottoner] 07/1/2016 07:28

Some very relevant information posted on the Corero website last month but not RNSed.

Gives additional validation to Corero product and clarification as to why their winning significant contracts and expect to win more.

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

Company’s First Line of Defense Solution Recognized for Data Center, Cloud Security and Network Security Solution Innovations

Corero Network Security Wins Gold and Silver Accolades at 2015 Golden Bridge Awards

Company’s First Line of Defense Solution Recognized for Data Center, Cloud Security and Network Security Solution Innovations

Hudson, MA – December 11, 2015 – Corero Network Security (LSE: CNS), a leading provider of First Line of Defense® security solutions against DDoS attacks, today announced that its SmartWall Threat Defense System (TDS) was selected for three 2015 Golden Bridge Awards. The company’s First Line of Defense solution was named the gold winner in the “Data Center – Innovations” category, and the silver winner in the “Cloud Security – Innovations” and “Network Security Solution – Innovation” categories.

According to Corero’s Mid-Year DDoS Trends and Analysis Report, almost all DDoS attacks targeting customer networks in the first half of 2015 were less than 30 minutes in duration and averaged less than 1 Gbps in bandwidth utilization – and this class of impactful, sub-saturating DDoS has increased by 32 percent from Q1 to Q2 2015. With DDoS attacks increasing in frequency and sophistication, companies around the world are depending on Corero’s SmartWall TDS to defend themselves against DDoS attacks. The SmartWall TDS inspects traffic, detects threats against protected resources, and blocks attacks in real time – preventing network and service outages. It is purpose-built to meet the needs of hosting providers and data centers, Internet Service Providers, and medium-to-large enterprises and can mitigate a range of DDoS attacks while avoiding delays in the delivery of legitimate traffic.

“While DDoS attacks were previously thought of as nuisance attacks, adversaries are leveraging them in increasingly unique ways – from smokescreens for other malicious activity to ransom-driven attacks – and companies are turning to Corero’s SmartWall TDS to defend themselves against these threats,” said Dave Larson, COO, Corero. “We are proud to partner with our customers to safeguard their networks from DDoS attacks, and these awards are a credit to our team’s hard work to deliver the highest quality First Line of Defense solution.”

Corero’s SmartWall TDS customers also have access to SecureWatch® Analytics, a Web-based analytics portal available via Splunk, for comprehensive, easy-to-read security dashboards created based on DDoS-tailored security feeds from Corero’s First Line of Defense technologies. Leveraging Splunk software for big data analytics and advanced visualization capabilities, the solution shows attacks in real-time, as well as top attacks against an environment over any period of time. SecureWatch Analytics delivers sophisticated visibility into an attack and other malicious traffic and is able to assist in understanding whether an event is designed to deny service or is intended for data exfiltration. Customers can also leverage SecureWatch Analytics historical reporting, behavior analysis and forensic capabilities to investigate attacks against their environments.

[cottoner] 06/1/2016 22:08

Worth keeping an eye on Corero's twitter account which among other things highlights DDOS attacks as they are reported.

Indicates how big an issue it is.




Just from last 2 days:

Linode Resets Customer Passwords After Breach, #DDoS Attack: via @threatpost


Sony PSN downed; hacking group claims #DDOS attack - via @scmagazine


BBC #DDoS attack; @Corero CEO, Ashley Stephenson via @vigilancemag

[cottoner] 06/1/2016 21:03

From July 2015 TU.


'Corero is continuing to see a shift in enterprises looking to their service providers for delivery of protection against distributed denial of service attacks ("DDoS"). The Company's SmartWall TDS products enable it to address the growing service provider market demand for DDoS protection solutions.

Despite longer sales cycles in the large service provider market, the opportunity in this segment is larger than Corero had originally anticipated. Demand is being driven by the immediate need for next generation technology solutions to deliver DDoS and cyber threat protection services to service provider customer bases and also to protect the growing Cloud services infrastructure from the impact of DDoS and cyber threats. Corero believes traction in this market segment would be transformational for the success of the Company.'

.....................................................

Well , the recent contract wins with Tier 1 ISPs seem to indicate CNS now have traction in the market segment.....

transformational for the success of the company ???

Time will tell , but if further significant contract wins are delivered then it may well become the case.

[someuwin] 06/1/2016 14:59

These last few RNSs will prove to be transformational imo.

Getting first orders for Tier 1 ISPs both US and European will open the flood gates for further such contracts.

"The service provider market for real-time and automatic DDoS mitigation solutions is growing fast, driven by the increasing demand from their customers for DDoS protection as a service, and we look forward to capitalising on this opportunity."

[napoleon 14th] 06/1/2016 12:59

Romeo, Romeo! Wherefor art thou, Romeo?
I remember the old Mondas. Held those for years hoping for a recovery...
Not sure what I did with the sh*t shares, tho'.
Probably sold for the tax loss...

Hope we get it back this time.
I must say that contract announcements are coming at just the right point...
Long may that continue.

Just about filled the gap to 20p from last Nov.
A couple more contracts and we could go further.
Next level = 25p, then 35p, & 60p from 4 yrs ago.

[romeo] 06/1/2016 12:26

I have held this share since the company was known as Mondas. Talk about a "bottom drawer" investment!

I don't recognize any of the names on this thread. Seems like all the "old timers" who used to post about Corero sold their shares a long time ago.

Good things come to those who wait (and wait... and wait some more...)?


Romeo

[someuwin] 06/1/2016 12:02

Distributed Denial of Service ("DDoS") is what brough down the BBC a few days ago.

If Tier 1 ISP customers are now using CNS gear to combat this threat then they could get very big very quickly.

[someuwin] 06/1/2016 11:58

This looks like massive news for such a small company to me!

[cottoner] 06/1/2016 10:07

Corero Network Security chief sees hundreds of opportunities across Europe

Interview from this morning with Ashley Stephenson, the CNS chief executive.

[cottoner] 06/1/2016 09:29

metis20 - agree.

The winning of those contracts with tier-one providers validates their products and gives them added credibility.

This should certainly help them to win further contracts in the increasing market in which they operate.

[spike_1] 06/1/2016 08:49

edit - wrong thread - sorry

[rolo7] 06/1/2016 07:40

More great news europe isp!

[bones30] 06/1/2016 00:14

This is very interesting to me.

[woodcutter] 05/1/2016 10:49

One of the things i liked was the director financial commitment. They also seem to have around 8.6m options but the exercise price is well above the current share price so i figure we'll see a few more given away.

I looked at the last annual report and it also seems that Andrew Miller significantly reduced his emoluments from 2013. Notwithstanding Miller and Ashley Stephenson are on a fair crust given the size of the business.

One area i'm struggling to find any quality info on is the revenue streams and how much of it is recurring. It looks to me like these contracts are a fixed fee with no recurring revenue at all. The downside of this is it only takes one attack on the ISP/company/cloud to be successful and other clients begin to question the quality of the product so existing and future reveune streams become more at risk.

woody

[billbyrne] 05/1/2016 09:49

Welcome Woodcutter. Bought a few after the last contract announcement
myself.

They were having SmartWall TDS trials with three of the top 10 US Internet service providers when they announced half year figures. Looks like this could be number two of the three to come in. Momentum seems to be building.

Directors stumped up £2m of the £5m raised in August, very positive.

Will they have enough cash to last, not sure, the final figures in March
should make the picture a bit clearer.