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 Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

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Earnings data Q3 2024

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Earnings data Q1 2025

Earnings data Q2 2025

Earnings data Q3 2025

Earnings data Q4 2025

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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SecureWorks Corp. (NASDAQ:SCWX ) Q2 2023 Earnings Conference Call September 1, 2022 8:00 AM ET Company Participants Paul Parrish - Chief Financial Officer Wendy Thomas - Chief Executive Officer Conference Call Participants Mike Cikos - Needham Hamza Fodderwala - Morgan Stanley Operator Hello and welcome to today's SecureWorks Second Quarter Fiscal 2023 Earnings Conference Call. My name is Bailey and I'll be your moderator for today's call.

SecureWorks Corp. (SCWX) Q2 2023 Earnings Call Transcript

ATLANTA , Sept. 1, 2022 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its second quarter, which ended on July 29, 2022.

Secureworks Reports over $200 Million in Taegis ARR (100% year over year growth) in Connection with Second Quarter Fiscal 2023 Results

Secureworks expands its open XDR platform to include visibility across OT, ICS, and SASE environments, delivering greater detection and response capabilities to more customers ATLANTA , Aug. 31, 2022 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced the expansion of its alliances program into several new solution areas. With threats expanding into critical production environments and the service edge, detection capabilities must expand, too.

Secureworks Continues Channel Alliance Momentum, Announces Partnerships with Netskope and SCADAfence

ATLANTA , Aug. 16, 2022 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its second quarter fiscal 2023 financial results on Thursday, September 1, 2022, 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 2023 Financial Results on September 1, 2022

Former Product Lead for Google Cloud Security Will Accelerate Growth as Business Transformation Continues ATLANTA , July 12, 2022 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced that it has appointed Michael Aiello as its new Chief Technology Officer (CTO). Aiello will play a pivotal role in setting the company's long-term strategic vision to define the next horizon of cybersecurity, accelerating its business transformation and championing customers to deliver enhanced security outcomes.

Secureworks Appoints Michael Aiello As Chief Technology Officer

SecureWorks Corp. (NASDAQ:SCWX ) Q1 2023 Results Earnings Conference Call June 2, 2022 8:00 AM ET Company Participants Paul Parrish - Chief Financial Officer Wendy Thomas - Chief Executive Officer Conference Call Participants Saket Kalia - Barclays Mike Cikos - Needham Hamza Fodderwala - Morgan Stanley Brian Essex - Goldman Sachs Operator Good morning. My name is Joe and I will be your conference operator today.

SecureWorks Corp. (SCWX) CEO Wendy Thomas on Q1 2023 Results - Earnings Call Transcript

ATLANTA , June 2, 2022 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its first quarter, which ended on April 29, 2022. Key Highlights Secureworks Taegis grew to $180 million in annual recurring revenue (ARR), an increase of 149% on a year-over-year basis.

Secureworks Reports 149% Taegis™ ARR Growth in Connection with First Quarter Fiscal 2023 Results

ATLANTA , May 17, 2022 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its first quarter fiscal 2023 financial results on Thursday, June 2, 2022, 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 2023 Financial Results on June 2, 2022

Secureworks CEO Wendy Thomas said in an interview that the company's Taegis XDR platform has been seeing strong demand from the mid-market.

Secureworks CEO on why XDR with ‘full coverage' is critical

A decline in revenue sent the shares tumbling after the fourth-quarter earnings report.

Why Secureworks Stock Was Down Today

SecureWorks Corp (NASDAQ: SCWX) reported a fourth-quarter FY22 revenue decline of 8.5% year-on-year to $127.9 million, missing the consensus of $128.9 million. SecureWorks Taegis posted $165 million in annual recurring revenue (ARR) and added 400 customers.

Why SecureWorks Shares Are Plunging Today

SecureWorks (SCWX) delivered earnings and revenue surprises of 137.50% and 0.89%, respectively, for the quarter ended January 2022. Do the numbers hold clues to what lies ahead for the stock?

SecureWorks (SCWX) Tops Q4 Earnings Estimates

SecureWorks Corp. (SCWX) CEO Wendy Thomas on Q4 2022 Results - Earnings Call Transcript

ATLANTA, March 17, 2022 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its fourth quarter and full fiscal year, which ended on January 28, 2022. Key Highlights Secureworks Taegis grew to $165 million in annual recurring revenue (ARR), an increase of 34% sequentially and 200% on a year-over-year basis.

Secureworks Reports 200% Taegis™ ARR Growth and Record Taegis Customer Growth in Connection with Fourth Quarter and Full Year Fiscal 2022 Results

Patent-pending Taegis™ platform detector uncovers "hands-on" cybercriminal activity even as the actors attempt to evade detection ATLANTA, March 14, 2022 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced the addition of its Hands-on-Keyboard Detector to the Secureworks Taegis platform which helps prevent, detect, and respond to advanced threats with automation, machine learning, and comprehensive threat intelligence by detecting "live" keyboard inputs from malicious  actors rather than scripts. All Secureworks Taegis XDR and Taegis ManagedXDR customers are now protected by this innovative, patent-pending detection capability.

Secureworks® Hands-on-Keyboard Detector Identifies Malicious Threat Actors

ATLANTA, March 1, 2022 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its fourth quarter and full year fiscal 2022 financial results Thursday, March 17, 2022, 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 Fourth Quarter and Full Year Fiscal 2022 Financial Results on March 17, 2022

ATLANTA, Jan. 4, 2022 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced that it is scheduled to present at the Needham Virtual Growth Conference on January 14, 2022 at 11:30 a.m. Eastern Time.

Secureworks to Participate in Upcoming Needham Conference

ATLANTA, Dec. 8, 2021 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today was named Frost & Sullivan's 2021 Best Practices Company of the Year for driving the evolution of the Managed and Professional Security Services Market with its cloud-native  Taegis™ XDR. The award recognizes Secureworks for its customer impact, as well as its visionary innovation and leadership in cybersecurity.

Secureworks Wins Frost & Sullivan's 2021 Company of the Year Award for Taegis ManagedXDR Innovation in the North American Managed and Professional Security Services Market

Secureworks Taegis XDR, a Cloud-Native Solution propels Secureworks into the next generation of security services focused on detection and response SAN ANTONIO, Dec. 8, 2021 /PRNewswire/ -- Frost & Sullivan recently assessed the North American managed and professional security services market and found that although traditional security services remain relevant, organizations also need support with the new generation of use cases.  A typical organization utilizes dozens of security solutions that operate in silos and generate thousands of alerts daily.

Secureworks Applauded by Frost & Sullivan for Driving the Evolution of Managed and Professional Security Services Market with Taegis ManagedXDR

SecureWorks (SCWX) delivered earnings and revenue surprises of 116.67% and 0.56%, respectively, for the quarter ended October 2021. Do the numbers hold clues to what lies ahead for the stock?

SecureWorks (SCWX) Beats Q3 Earnings and Revenue Estimates

SecureWorks Corp.'s (SCWX) CEO Wendy Thomas on Q3 2022 Results - Earnings Call Transcript

ATLANTA, Dec. 2, 2021 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its third quarter, which ended on October 29, 2021. Key Highlights Secureworks Taegis grew to $123 million in annual recurring revenue (ARR), an increase of over 20% sequentially and 193% on a year-over-year basis.

Secureworks Reports Third Quarter Fiscal 2022 Results with 193% Taegis™ ARR Growth and Record Gross Margins

SecureWorks (NASDAQ:SCWX) is set to give its latest quarterly earnings report on Thursday, 2021-12-02. Here's what investors need to know before the announcement.

Earnings Outlook For SecureWorks

ATLANTA , Nov. 30, 2021 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cyber security, has been recognized as a Leader in the "IDC MarketScape: Worldwide Incident Readiness Services 2021 Assessment (doc #US46741420, November 2021). The IDC MarketScape recognized Secureworks' incident readiness services with its portfolio of consulting and professional services designed to help security leaders and their organizations build incident readiness programs to complement cybersecurity software.

Secureworks Named a Leader in the IDC MarketScape: Worldwide Incident Readiness Services 2021 Assessment

SecureWorks (SCWX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

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