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Network security company Corero said it expected to report wider annual losses as revenue in the first half of the year was impacted by a lower-than-expected conversion of the Juniper pipeline of opportunities into orders and revenue.
Management expected revenue for the full year ending 31 December 2019 to be approximately 20% higher than revenue for the prior year of $10.0m and anticipate an increased earnings (EBITDA) loss for the full year from the $2.1m seen last year.
The company blamed the wider losses on additional Corero direct sales investment in the second half of 2019 of approximately $1.0m.
For the six months ended 30 June 2019, revenue was expected to be approximately $4.2m down from $5.0m a year earlier and the EBITDA loss was expected to be approximately $2.0m, wider than the $1.4m reported last year.