Corero Network Security plc provided earnings guidance for the year ending December 31, 2022. Order intake, which reflects revenues recognised over the lifetime of each of the contracts, is expected to remain strong with growth of between 15% and 25% over the prior year (2021: $21.2 million). Notwithstanding the expected growth in order intake, Corero estimates that revenue for the year ending 31 December 2022 is now expected to show growth of between 5% and 10% over the prior year (2021: $20.9 million).

Corero has seen customer decision making and buying cycles being extended which has impacted customer order timing as they approach the end of the financial year and the resultant ability to recognise the revenue in the current period. The Company expects that the final quarter of the financial year will, consistent with seasonality patterns of business in previous years, display characteristic greater weighting of business activity and as a result the second half will show a material increase on the results from the first half.