Corero shares tumble 33% on profit warning and revenue shift

  • Shares in Corero Network Security PLC (AIM:CNS, OTCQBDoSF) dropped 33% on Wednesday morning after the cyber-defence firm warned that full-year revenue and earnings would fall short of market expectations. The AIM-listed company, which specialises in protecting against distributed denial of service (DDoS) attacks, said it was seeing strong momentum in its subscription-based model, with annualised recurring revenue rising 25% to $21.6 million.