Secureworks Announces Second Quarter Fiscal 2025 Results
News provided by 05 Sep, 2024, 19:00 CST
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.
Key Highlights
"In a world where we rely on technology, comprehensive cyber resilience is more top of mind than ever, and our open, AI-powered platform has proven itself to be the shield that keeps companies safely up and running. This quarter we continued to innovate and invest in the extensibility of Taegis, with the launch of Taegis Identity Threat Detection and Response enabling organizations to proactively combat identity threats," said Wendy Thomas, CEO, Secureworks. "The acceleration of security value to our customers through new solutions remains a cornerstone of our growth strategy."
"Our second quarter results demonstrate the sustainability of our Taegis gross margin expansion, reflecting further efficiencies gained from our ongoing use of automation, AI, and scalable cloud architecture, giving us confidence in our continued positive adjusted EBITDA trajectory," said Alpana Wegner, Chief Financial Officer, Secureworks. "We're pleased with the traction with our channel partners and the extension of our core capabilities into adjacent security coverage."
Second Quarter Fiscal 2025 Financial Highlights
Secureworks is providing the following updated guidance for full fiscal year 2025. The Company expects:
Fiscal Year 2025 Guidance- Total ARR: $300M or Greater
- Total revenue: $328M to $335M
- Non-GAAP net income: $3M to $8M
- Adjusted EBITDA: $6M to $12M
- Cash from operations: ($2M) to $8M
Guidance for non-GAAP financial measures excludes certain items and the effects of non-GAAP income tax expense (benefit).
Conference Call Information
As previously announced, the Company will hold a conference call to discuss its second quarter fiscal 2025 results and financial guidance on September 5, 2024, at 8:00 a.m., Eastern time. A live audio webcast of the conference call and the related supplemental financial information will be accessible on the Company's website at https://investors.secureworks.com. The webcast and supplemental information will be archived at the same location.
About Secureworks
Secureworks (NASDAQ: SCWX) is a global cybersecurity leader that secures human progress with Secureworks Taegis, a SaaS-based, open XDR platform built on 20+ years of real-world detection data, security operations expertise, and threat intelligence and research. Taegis is embedded in the security operations of thousands of organizations around the world who use its advanced, AI-driven capabilities to detect advanced threats, streamline and collaborate on investigations, and automate the right actions. Visit www.secureworks.com for more information.
Operating Metrics
Secureworks defines ARR as the value of its subscription contracts as of a particular date, which includes operational backlog. Operational backlog is defined as the recurring revenue associated with pending contracts.
Explanation of Non-GAAP Financial Measures
Secureworks presents information about non-GAAP financial measures to provide useful insights into its financial performance. These non-GAAP financial measures include gross profit, operating income (loss), net income (loss), adjusted EBITDA, and more. The Company believes these measures enhance the overall understanding of its financial performance and outlook.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties, and other factors that may cause actual results to differ from the expressed or implied outcomes. These statements include information about achieving profitability, enhancing solutions and technologies, economic conditions, competition, international operations, and more.
