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

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

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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

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 , June 8, 2023 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its first quarter, which ended on May 5, 2023. Key Highlights Secureworks Taegis™ first quarter revenue grew 68% year-over-year to $62.6 million.

Secureworks® Announces First Quarter Fiscal 2024 Results

Industrial organizations gain security resilience with unified detection and response for OT and IT with the Company's award-winning MDR solution powered by Secureworks® Taegis™ XDR ATLANTA , June 1, 2023 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced two new offerings to unify the way industrial organizations prevent, detect, and respond to threats across the OT and IT landscapes. Taegis XDR for OT – Secureworks award-winning XDR platform that combines intelligence from OT with security telemetry across the IT landscape into a single unified threat prevention, detection and response platform.

Secureworks Unifies Industrial Cybersecurity with the First Integrated MDR Solution for OT and IT

ATLANTA , May 18, 2023 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its first quarter fiscal 2024 financial results on Thursday, June 8, 2023, 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 2024 Financial Results on June 8, 2023

SecureWorks Corp. provides endpoint security software and solutions to organizations worldwide. The company is exiting legacy businesses in favor of a subscription model through its flagship system Taegis XDR.

SecureWorks Continues Transition As It Reduces Headcount

Leaders with 20+ Years Experience in Software and Cybersecurity Will Scale Secureworks to Accelerate Revenue-Generating Performance ATLANTA , April 27, 2023 /PRNewswire/ -- Secureworks® (NASDAQ:SCWX), a global leader in cybersecurity, today announced that it has appointed Alpana Wegner as its new Chief Financial Officer (CFO), effective June 9, 2023, and Allan Peters as its new Chief Revenue Officer (CRO), effective May 8, 2023. Both Wegner and Peters bring more than 20 years of business experience in their respective fields at public companies in the software and cybersecurity industries.

Secureworks Appoints Alpana Wegner as Chief Financial Officer and Allan Peters as Chief Revenue Officer

SecureWorks Corp. (NASDAQ:SCWX ) Q4 2023 Earnings Conference Call March 23, 2023 8:00 AM ET Company Participants Kevin Toomey - Vice President, Investor Relations Wendy Thomas - Chief Executive Officer Paul Parrish - Chief Financial Officer Conference Call Participants Saket Kalia - Barclays Mike Cikos - Needham Madeline Brooks - Bank of America Operator Good morning everyone. My name is Bruno and I will be your conference operator today.

SecureWorks Corp. (SCWX) Q4 2023 Earnings Call Transcript

SecureWorks (SCWX) delivered earnings and revenue surprises of 37.04% and 6.76%, respectively, for the quarter ended January 2023. Do the numbers hold clues to what lies ahead for the stock?

SecureWorks (SCWX) Reports Q4 Loss, Tops Revenue Estimates

ATLANTA , March 23, 2023 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its fourth quarter and full fiscal year, which ended on February 3, 2023. Key Highlights Secureworks® Taegis™ grew to $261 million in annual recurring revenue (ARR), an increase of 58% on a year-over-year basis, and now represents around 82% of Secureworks total ARR.

Secureworks Reports 120% Growth in Annual Taegis Revenue to $188 Million in Connection with Fourth Quarter and Full Year Fiscal 2023 Results

Companies can continually evaluate and strengthen their security posture relative to their industry peers ATLANTA , March 22, 2023 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced the launch of its Taegis™ Security Posture Dashboard. Using the 600 billion security events Taegis analyzes daily, the Dashboard empowers customers to understand their cybersecurity posture and how resilient they would be in the face of a cyberattack.

Secureworks Reduces Cyber Risk and Bolsters Cyber Resiliency With Launch Of Security Posture Dashboard

ATLANTA , Feb. 27, 2023 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its fourth quarter and full year fiscal 2023 financial results on Thursday, March 23, 2023, 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 2023 Financial Results on March 23, 2023

SecureWorks Inc. SCWX, +1.47% disclosed Tuesday that it will lay off about 9% of its employees, as part of a plan to cut costs. The company had 2,351 employees as of Jan. 28, 2022, according to the cyber-security company's latest annual report, which means the lay offs could affect about 212 employees.

SecureWorks to cut 9% of its workforce, as layoffs could affect more than 200 employees

ATLANTA , Jan. 5, 2023 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced that it is scheduled to present at the 25th Annual Needham Growth Conference on Thursday, January 11, 2023 at 1:30 p.m. Eastern Time.

Secureworks to Participate in Upcoming Needham Growth Conference

SecureWorks (SCWX) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Here's Why SecureWorks (SCWX) is Poised for a Turnaround After Losing 24.2% in 4 Weeks

SecureWorks Corp. (NASDAQ:SCWX ) Q3 2023 Results Earnings Conference Call December 1, 2022 8:00 AM ET Company Participants Kevin Toomey - Vice President, Investor Relations Wendy Thomas - President and Chief Executive Officer Paul Parrish - Chief Financial Officer Conference Call Participants Saket Kalia - Barclays Capital Mike Cikos - Needham & Company Hamza Fodderwala - Morgan Stanley Madeline Brooks - Bank of America Global Research Operator Good morning. My name is Bailey and I'll be your conference operator today.

SecureWorks Corp. (SCWX) Q3 2023 Earnings Call Transcript

SecureWorks (SCWX) delivered earnings and revenue surprises of 20% and 0.93%, respectively, for the quarter ended October 2022. Do the numbers hold clues to what lies ahead for the stock?

SecureWorks (SCWX) Reports Q3 Loss, Misses Revenue Estimates

ATLANTA , Dec. 1, 2022 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its third quarter, which ended on October 28, 2022. Key Highlights Secureworks Taegis™ grew to $222 million in annual recurring revenue (ARR), an increase of 80% on a year-over-year basis.

Secureworks Reports 80% year over year Growth in Taegis ARR to $222 Million in Connection with Third Quarter Fiscal 2023 Results

Partner First launches across North America, with rest of world to follow in 2023 ATLANTA , Nov. 18, 2022 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced an important next step in the evolution of its Global Partner Program, furthering Secureworks mission of securing human progress.  Effective December 1, 2022, all new Secureworks Taegis™ business in North America will be sold in collaboration with partners.

Secureworks Unveils Partner First Strategy

ATLANTA, Ga. , Nov. 15, 2022 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its third quarter fiscal 2023 financial results on Thursday, December 1, 2022, before the open of regular U.S. stock market trading hours.

Secureworks to Report Third Quarter Fiscal 2023 Financial Results on December 1, 2022

Launch underscores Secureworks global growth strategy and ongoing commitment to Japan as it sees continued growth in the country   TOKYO , Oct. 10, 2022 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced that its extended detection and response (XDR) platform Taegis™ will be generally available in Japan from November 1, 2022. Secureworks Taegis XDR and Taegis ManagedXDR will enable organizations in Japan to augment their overall cybersecurity posture and reduce cyber risk.

Secureworks Launches Taegis™ XDR Platform in Japan as Threat from Ransomware Escalates

Analysis of the cyber threat landscape from the Secureworks® Counter Threat Unit™ highlights key shifts in the tools and behaviors of adversaries across the world ATLANTA , Oct. 4, 2022 /PRNewswire/ -- Secureworks® (NASDAQ:SCWX), published its annual State of the Threat Report today, revealing that the exploitation in remote services has become the primary initial access vector (IAV) in ransomware attacks over the past year, accounting for 52% of ransomware incidents analyzed by Secureworks over the period (overtaking credentials-based attacks from 2021). Alongside this, there has also been a 150% rise in the use of infostealers, making them a key precursor to ransomware.

Secureworks State of the Threat Report 2022: 52% of ransomware incidents over the past year started with compromise of unpatched remote services

SecureWorks is a cybersecurity company which provides threat detection and rapid response. The company is undergoing a business model transformation and its SaaS platform is generating solid growth.

SecureWorks: Tasty Turnaround With A $100B Cybersecurity TAM

SecureWorks (SCWX) delivered earnings and revenue surprises of 23.53% and 0.70%, respectively, for the quarter ended July 2022. Do the numbers hold clues to what lies ahead for the stock?

SecureWorks (SCWX) Reports Q2 Loss, Misses Revenue Estimates

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.

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