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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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 , March 14, 2024 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its fourth quarter and full year fiscal 2024, which ended on February 2, 2024. Key Highlights Taegis™ annual recurring revenue (ARR) grew to $285 million, an increase of 9% on a year-over-year basis.

Secureworks Announces Fourth Quarter and Full Year Fiscal 2024 Results

"Innovation powerhouse" Secureworks applauded for its innovation and customer-first approach which makes them "a force to be reckoned with in the XDR market" SAN ANTONIO, March 11, 2024 /PRNewswire/ -- Frost & Sullivan has today announced that it has honored Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, with the 2024 Global Competitive Strategy Leadership Award in Extended Detection and Response (XDR). Following an independent assessment of the global XDR market, Frost awarded the accolade to Secureworks based on its strategy effectiveness and execution, competitive differentiation, and customer experience.

Secureworks Earns Frost & Sullivan Competitive Strategy Leadership Award in the Global Extended Detection and Response Market

BENGALURU, India and SAN JOSE, Calif. and LONDON , Feb. 29, 2024 /PRNewswire/ -- Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a 'Born Digital.

Happiest Minds partners with Secureworks to deliver next-gen XDR Services

ATLANTA , Feb. 22, 2024 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its fourth quarter and full year fiscal 2024 financial results on Thursday, March 14, 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 Fourth Quarter and Full Year Fiscal 2024 Financial Results on March 14, 2024

Security analysts can now be confident they are prioritizing and responding to the alerts that pose the greatest risk to their organization ATLANTA , Feb. 1, 2024 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced the launch of its AI-powered Threat Score to silence alert noise and reduce security analyst workload by over 50%. With ransomware dwell times falling, security analysts are under more pressure than ever to make the right decisions about which alerts they investigate.

Secureworks Threat Score Ushers In A New Age Of Cybersecurity AI

SentinelOne

Collaborative partnership simplifies how customers procure, deploy and utilize leading solutions to enhance cyber resiliency ATLANTA , Dec. 12 2023 /PRNewswire/ -- Secureworks (NASDAQ: SCWX), a global leader in cybersecurity, today announced a joint go-to-market program with SentinelOne (NYSE:S), a global leader in AI-powered security, designed to accelerate organizational cyber resilience. The new channel program brings together Secureworks® Taegis™ ManagedXDR and SentinelOne Singularity™ Complete, two fully integrated, industry-leading cybersecurity solutions to simplify risk management and reduce time to value by utilizing cyber expertise, threat intelligence and technology.

Secureworks and SentinelOne® Deliver Trailblazing Global Joint Go-To-Market Program to Decrease Cyber Risk

SecureWorks (NASDAQ: SCWX ) just reported results for the third quarter of 2024. The company did not report any EPS for the quarter.

SCWX Stock Earnings: SecureWorks Beats Revenue for Q3 2024

SecureWorks Corp. (NASDAQ:SCWX ) Q3 2024 Earnings Conference Call December 7, 2023 8:00 AM ET Company Participants Kevin Toomey - VP, IR Wendy Thomas - CEO Alpana Wegner - CFO Conference Call Participants Mike Cikos - Needham Matt Saltzman - Morgan Stanley Operator Good morning, everyone. My name is Bruno, and I'll be your conference call operator today.

SecureWorks Corp. (SCWX) Q3 2024 Earnings Call Transcript

SecureWorks (SCWX) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to loss of $0.16 per share a year ago.

SecureWorks (SCWX) Reports Break-Even Earnings for Q3

ATLANTA , Dec. 7, 2023 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its third quarter, which ended on November 3, 2023. Key Highlights Secureworks Taegis™ annual recurring revenue (ARR) grew to $279 million, an increase of 25% on a year-over-year basis.

Secureworks® Announces Third Quarter Fiscal 2024 Results

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ATLANTA , Nov. 16, 2023 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its third quarter fiscal 2024 financial results on Thursday, December 7, 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 Third Quarter Fiscal 2024 Financial Results on December 7, 2023

SecureWorks operates in a growing cybersecurity market and is expected to gain market share through upselling, cross-selling, and international expansion. The company's cloud shift is still in the early stages, which may present challenges to profitability until revenue aligns with ARR growth. SecureWorks' Taegis platform offers a comprehensive solution for organizations, but the company's future depends on its ability to collaborate with partners and attract more clients.

SecureWorks: Cloud Transitioning Challenges Continue To Weigh On The Stock

SecureWorks (SCWX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

SecureWorks (SCWX) Upgraded to Strong Buy: Here's What You Should Know

Analysis from Secureworks annual State of The Threat Report shows ransomware median dwell time has dropped from 4.5 days to less than 24 hours in a year ATLANTA , Oct. 5, 2023 /PRNewswire/ -- Ransomware is being deployed within one day of initial access in more than 50% of engagements, says Secureworks® (NASDAQ: SCWX) Counter Threat Unit™ (CTU™). In just 12 months the median dwell time identified in the annual Secureworks State of the Threat Report has freefallen from 4.5 days to less than one day.

Ransomware Dwell Time Hits Low of 24 Hours

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SecureWorks Corp. reported financial results that missed revenue expectations but beat earnings estimates. The company specializes in providing security software and services for managing cyberthreats. Despite cost-cutting measures and increased demand for its Taegis platform, overall revenue is declining.

SecureWorks Cuts Costs But Revenue Continues To Fall (Downgrade)

SecureWorks Corp. (NASDAQ:SCWX ) Q2 2024 Earnings Conference Call September 7, 2023 8:00 AM ET Company Participants Kevin Toomey - VP, IR Wendy Thomas - CEO Alpana Wegner - CFO Conference Call Participants Mike Cikos - Needham Hamza Fodderwala - Morgan Stanley Operator Good morning. My name is Prika and I will be your conference operator today.

SecureWorks Corp. (SCWX) Q2 2024 Earnings Call Transcript

SecureWorks (SCWX) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.13 per share a year ago.

SecureWorks (SCWX) Reports Q2 Loss, Tops Revenue Estimates

ATLANTA , Sept. 7, 2023 /PRNewswire/ -- Secureworks® (NASDAQ: SCWX), a global leader in cybersecurity, today announced financial results for its second quarter, which ended on August 4, 2023.

Secureworks® Announces Second Quarter Fiscal 2024 Results

ATLANTA , Aug. 17, 2023 /PRNewswire/ -- Secureworks (NASDAQ: SCWX) today announced that it plans to release its second quarter fiscal 2024 financial results on Thursday, September 7, 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 Second Quarter Fiscal 2024 Financial Results on September 7, 2023

SecureWorks said Monday it will let go of 15% of its workforce, the cybersecurity company's second round of layoffs this year. In a regulatory filing, SecureWorks said that it would incur about $14.2 million in expenses due to the layoffs, mostly related to employee termination benefits and real-estate costs.

SecureWorks layoffs affect 15% staff

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SecureWorks Corp. (NASDAQ:SCWX ) Q1 2024 Earnings Conference Call June 8, 2023 8:00 AM ET Company Participants Kevin Toomey - VP, IR Wendy Thomas - CEO Christian Grant - Interim CFO Conference Call Participants Saket Kalia - Barclays Michael Cikos - Needham Hamza Fodderwala - Morgan Stanley Madeline Brooks - Bank of America Operator Good morning, everyone. My name is Bruno and I will be your conference operator for today.

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