Corero Network Security posts a pre-tax loss of $4.1 million for the six months to the end of June - down from $5.6 million a year ago.
Revenue rose by 20% to $4.8 million with SmartWall TDS revenue growth of 125% over H1 2015 (37% over H2 2015) and an increase in average new customer contract value ($218,000 vs $141,000).
Chief executive Ashley Stephenson said: "During the first half of 2016 Corero made significant progress establishing itself as a leading DDoS technology and product vendor. Corero's SmartWall TDS received NSS Test labs 'Recommended' rating providing important independent validation of its security efficacy with negligible false positives at unprecedented levels of price/performance.
"In the same period several Top 10 providers in their respective markets selected our SmartWall product. We have an increasing number of satisfied customers who are willing to be industry references for the breakthrough levels of automation, security and service that Corero delivers.
"Looking forward we expect new deal momentum to continue and for consumption of our DDoS Protection "as-a-service" offering to increase. We are also optimistic of securing strategic partnerships with some of the largest ecosystem players in the networking, security and cloud markets.
"We are disappointed to fall short of market expectations for the full year, but remain positive for the future prospects for the Company."
At 1:35pm: (LON:CNS) Corero Network Security PLC share price was -7p at 13p