SecureWorks Corp.

SecureWorks Corp. is a cyber security company engaged in the provision of information security solutions. The firm's products include extended detection and response, managed detection and response, and vulnerability management. Its services include managed security, incident response, threat intelligence, security consulting, and adversarial security testing. The company was founded on 1999 and is headquartered in Atlanta, GA.

Earnings data Q4 2021

Earnings data Q1 2022

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SCWX reports strong Q1 performance, eyes growth through Taegis

SCWX's Q1 performance showcased strong revenue growth and financial stability. The company's Taegis product continues to gain market recognition and win new partnerships. While managing down remaining ARR from other MSS presents a challenge, the company is well-positioned to capitalize on opportunities presented by advanced AI models and customer-focused strategies.

SecureWorks reports strong Q2 performance, faces challenges in revenue guidance

SecureWorks demonstrated strong growth in Taegis ARR and revenue, but faces challenges related to longer sales cycles and the sunset of certain business lines. The company is leveraging its strengths in market positioning and partner ecosystem expansion while pursuing opportunities in XDR adoption and cost structure alignment.

SecureWorks reports strong Q3 performance, poised for growth ahead

SecureWorks demonstrated strong financial performance, marked by significant revenue growth, improved adjusted EBITDA, and expanded market share. While challenges persist in terms of EBITDA loss and cash usage, the company's strategic priorities and partnerships position them for future success. With a clear path to breakeven and opportunities for further growth, SecureWorks remains well-positioned in the cybersecurity market.

SecureWorks reports robust growth in Taegis solutions, eyes profitability

SecureWorks is making strides in transitioning to higher-margin SaaS subscriptions while driving strong growth in Taegis solutions.
Despite near-term challenges such as workforce reduction and EBITDA losses, the company is focused on long-term profitability.
Opportunities lie in expanding customer base, achieving breakeven EBITDA, and capitalizing on the growth potential of Taegis ARR.

SecureWorks' Taegis platform drives growth amidst profitability challenges

Secureworks' Taegis platform excelled in Q1 2024, driving revenue growth and customer adoption with a focus on simplicity, integration, and AI-driven outcomes.
While facing profitability challenges and short-term financial pressures, Secureworks aims for growth inflection in the second half of the fiscal year.
Strategic alignment with a Taegis-centric model, cost structure optimization, and margin expansion efforts position Secureworks for long-term success.

SecureWorks reports robust Q2 revenue growth and strategic cost alignment

SecureWorks Corp. demonstrated strong revenue growth and cost alignment in Q2 2024, driven by the success of the Taegis platform.
While facing challenges of longer sales cycles and restructuring costs, the company remains focused on profitability and market expansion.
Opportunities lie in driving Taegis adoption, leveraging partner ecosystems, and following revised guidance for sustained growth and financial health.

SecureWorks excels in Q3 2024, poised for profitability next quarter

SecureWorks reported robust financial performance, highlighted by revenue growth, narrowing EBITDA loss, and market leadership in XDR technology. While facing challenges from sales cycle elongation and budget constraints, the company remains focused on driving sustainable growth through customer-centric solutions and a strong partner network.

SecureWorks reports strong Q4 performance and outlines growth opportunities

SecureWorks Corp. delivered a strong performance in Q4 2024, showcasing growth in revenue, ARR, and positive EBITDA, positioning the company well for future success.
Industry recognition, customer-centric approach, and strategic partnerships are key strengths driving demand for the AI-powered Taegis platform and enhancing market competitiveness.
Challenges in pricing strategy, renewal cohort management, and balancing growth with profitability require a transparent and strategic approach to sustain financial health.
Opportunities lie in the positive Fiscal '25 outlook, the evolving threat landscape emphasizing the need for cybersecurity solutions, and the potential for market expansion through successful partnerships.

SecureWorks excels in Q1, transitions to SaaS model successfully

SecureWorks delivered strong financial results, exceeding revenue guidance and showcasing improved margins.
The company's transition to a product-led SaaS model and focus on AI-driven security solutions position it for future growth.
Challenges lie in sustaining momentum in a competitive market and balancing innovation with profitability targets.
Opportunities abound in expanding partnerships, launching new products, and capitalizing on the growing cybersecurity market.

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ATLANTA , Nov. 20, 2024 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX) today announced that it plans to release its third quarter fiscal 2025 financial results on Wednesday, December 4, 2024, before the open of regular U.S. stock market trading hours.  Secureworks will not be hosting a quarterly earnings conference call in light of the pending transaction with Sophos.

Secureworks to Report Third Quarter Fiscal 2025 Financial Results on December 4, 2024

NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating SecureWorks Corp. ( Nasdaq: SCWX ), relating to a proposed merger with Sophos Inc. Under the terms of the agreement, all SecureWorks shares will automatically be converted into the right to receive $8.50 in cash.

STOCKHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of SecureWorks Corp. – SCWX

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TCS, AG and SCWX have been added to the Zacks Rank #5 (Strong Sell) List on October 23, 2024.

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MILWAUKEE--(BUSINESS WIRE)--Ademi LLP is investigating SecureWorks (NASDAQ: SCWX) for possible breaches of fiduciary duty and other violations of law in its transaction with Sophos. Click here to learn how to join our investigation or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you. In the transaction, SecureWorks shareholders will receive only $8.50 per share in an all-cash transaction valued at $859 million. The transaction agreement unreasonably limits compet.

Shareholder Alert: Ademi LLP Investigates Whether SecureWorks Corp. Is Obtaining a Fair Price for Its Public Shareholders

Cybersecurity firm Sophos, which is backed by private equity firm Thoma Bravo, said on Monday it will acquire Secureworks for $859 million in an all-cash deal to strengthen its cybersecurity offering for small, mid and enterprise customers.

Thoma Bravo-backed Sophos acquires Secureworks for $859 mln to strengthen its security portfolio

Dell Technologies

News Summary Secureworks shareholders to receive $8.50 per share in cash Sophos intends to integrate solutions from both companies into a broader and stronger security portfolio for all small, mid- and enterprise customers By combining complementary AI-driven security platforms powered by automated prevention, detection and response, the two organizations can deliver advanced solutions for defeating modern, persistent adversaries even faster The deal is expected to strengthen the security community by bringing together two industry leaders with shared mission-driven cultures OXFORD, United Kingdom and ATLANTA, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Sophos and Secureworks ® (NASDAQ:SCWX), two global leaders of innovative security solutions for defeating cyberattacks, today announced a definitive agreement for Sophos to acquire Secureworks. The all-cash transaction is valued at approximately $859 million.

Sophos to Acquire Secureworks to Accelerate Cybersecurity Services and Technology for Organizations Worldwide

Secureworks annual State of The Threat Report outlines cybercriminals response as law enforcement operations successfully cause widespread disruption to ransomware operations ATLANTA , Oct. 8, 2024 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX) 2024 State of the Threat Report has revealed a 30% year-over-year rise in active ransomware groups, which demonstrates fragmentation of an established criminal ecosystem. 31 new groups entered the ransomware ecosystem during the last 12 months, and based on numbers of victims listed the three most active groups are: LockBit:The long established 'top dog' of ransomware groups accounted for 17% of listings, down 8% from last year, proving even further how the takedown has impacted their operations.

Active Ransomware Threat Groups Up 30% in 2024

SecureWorks Corp. (NASDAQ:SCWX ) Q2 2025 Earnings Conference Call September 5, 2024 1:30 PM ET Company Participants Kevin Toomey - VP of IR Wendy Thomas - CEO Alpana Wegner - CFO Conference Call Participants Hamza Fodderwala - Morgan Stanley Mike Cikos - Needham Saket Kalia - Barclays Madeline Brooks - Bank of America Securities Operator Good morning, my name is Carly and I'll be the conference operator for today. At this time I'd like to welcome everyone to the SecureWorks Second Quarter Fiscal 2025 Financial Results Conference Call.

SecureWorks Corp. (SCWX) Q2 2025 Earnings Call Transcript

ATLANTA , Sept. 5, 2024 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its second quarter fiscal 2025, which ended on August 2, 2024.

Secureworks Announces Second Quarter Fiscal 2025 Results

SecureWorks (SCWX) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Strength Seen in SecureWorks (SCWX): Can Its 20.4% Jump Turn into More Strength?

Personal computer maker Dell Technologies is again exploring a possible sale of SecureWorks , after unsuccessful earlier attempts to find a buyer for the U.S. cybersecurity firm, according to people familiar with the matter.

Exclusive: Dell attempts to sell cybersecurity firm SecureWorks again, sources say

New Taegis™ IDR solution stops identity-based attacks in real time ATLANTA , Aug. 28, 2024 /PRNewswire/ -- Secureworks®, (NASDAQ: SCWX), a global leader in cybersecurity, today announced a new industry benchmark of 90 seconds to discover identity related risks and misconfigurations*, an issue that impacts 95% of organizations.  Launched today, Secureworks Taegis™ IDR, a new Identity Threat Detection and Response (ITDR) solution, proactively closes security gaps by leveraging advanced AI and machine learning, to automatically detect, prioritize and respond to identity-based threats across an organization's environment and the dark web.

Secureworks Discovers Identity Risks in Under 90 Seconds

ATLANTA , Aug. 15, 2024 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its second quarter fiscal 2025 financial results on Thursday, September 5, 2024, before the open of regular U.S. stock market trading hours.  Secureworks® will host a conference call that day to review the results at 8:00 a.m.

Secureworks to Report Second Quarter Fiscal 2025 Financial Results on September 5, 2024

NEEDHAM, Mass.--(BUSINESS WIRE)--Coretelligent, a premier provider of IT and technology solutions, has joined the Secureworks Global MSSP Partner Program to enhance its offerings.

Coretelligent Joins Secureworks® Global MSSP Partner Program to Bolster Cyber Readiness for Mid-Market Customers

Taegis ManagedXDR Plus delivers bespoke  security at scale to solve mid-market resource challenges that traditional MDR solutions can't ATLANTA , July 16, 2024 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced the launch of Taegis™ ManagedXDR Plus, a new Managed Detection and Response (MDR) offering that liberates the mid-market from indistinct, cookie cutter security solutions that don't meet their unique security requirements. Today's announcement means that this market sector will no longer be forced to use homogenous cybersecurity solutions that don't align to unique environments or the AI-fueled attacks that target them.

Secureworks Elevates State of Cybersecurity for Mid-Market Customers with new Tailored Managed Detection and Response Offering

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SecureWorks Corp. (NASDAQ:SCWX ) Q1 2025 Earnings Call Transcript June 6, 2024 8:00 AM ET Company Participants Kevin Toomey - VP of IR Wendy Thomas - CEO Alpana Wegner - CFO Conference Call Participants Saket Kalia - Barclays Matt Calitri - Needham Hamza Fodderwala - Morgan Stanley Operator Good morning. My name is Emily and I'll be your conference operator today.

SecureWorks Corp. (SCWX) Q1 2025 Earnings Call Transcript

ATLANTA , June 6, 2024 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its first quarter fiscal 2025, which ended on May 3, 2024. Key Highlights Taegis™ first quarter revenue grew 10% year-over-year to $69.1 million.

Secureworks Announces First Quarter Fiscal 2025 Results

ATLANTA , May 16, 2024 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its first quarter fiscal 2025 financial results on Thursday, June 6, 2024, before the open of regular U.S. stock market trading hours.  Secureworks® will host a conference call that day to review the results at 8:00 a.m.

Secureworks to Report First Quarter Fiscal 2025 Financial Results on June 6, 2024

SecureWorks (SCWX) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

SecureWorks (SCWX) Moves 9.2% Higher: Will This Strength Last?

New solution empowers organizations to integrate their network with all security controls to mitigate risk ATLANTA, May 8, 2024 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced the release of Secureworks Taegis™ NDR, to stop nefarious threat actors from traversing the network. The dominance of cloud applications and remote working has created an explosion in network traffic, up over 20% from 2023 to 20241.

Secureworks Brings AI-Powered Threat Prevention and Detection To The Network With Taegis NDR

Newest innovation breaks down silos for threat and vulnerability prioritization creating a unified experience for IT and SecOps teams ATLANTA , April 23, 2024 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced the ability to integrate vulnerability risk context with threat detection to prevent attackers from exploiting known vulnerabilities and expedite response times, improving an organization's security posture. The integration between Taegis™ XDR and Taegis VDR enables customers and partners to view known vulnerabilities in the context of threat data to accelerate investigation and remediation plans.

Secureworks Leads with Advanced Integration of Threat Detection and Vulnerability Risk for Expedited Threat Resolution

ATLANTA , March 21, 2024 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced that it has appointed William (Bill) H. Cary to its Board of Directors and to serve as Chair of the Audit Committee.

Secureworks Appoints William Cary to its Board of Directors

SecureWorks Corp. (NASDAQ:SCWX) Q4 2024 Earnings Conference Call March 14, 2024 8:00 AM ET

SecureWorks Corp. (SCWX) Q4 2024 Earnings Call Transcript

SecureWorks (SCWX) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of a loss of $0.07 per share. This compares to loss of $0.17 per share a year ago.

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