Welcome to our dedicated page for SecureWorks news (Ticker: SCWX), a resource for investors and traders seeking the latest updates and insights on SecureWorks stock.
SecureWorks Corp (NASDAQ: SCWX) is a global leader in cybersecurity, dedicated to helping customers and partners stay ahead of cyber threats. With over 20 years of threat intelligence and research, SecureWorks leverages its extensive experience to deliver cutting-edge security solutions. The company offers a cloud-native, SaaS-based security platform, SecureWorks® Taegis™, which integrates advanced security analytics, AI, and automation to detect and respond to advanced threats.
SecureWorks provides a comprehensive suite of services including Managed Detection and Response (MDR), Extended Detection and Response (XDR), Threat Hunting, Log Management, Next-Generation Antivirus (NGAV), Endpoint Detection and Response (EDR), and Intrusion Detection and Prevention Systems (IDPS). These solutions empower organizations to enhance their cyber defenses, detect malicious activities in real-time, prioritize security incidents, and predict emerging threats.
Recently, SecureWorks has achieved several milestones, including the expansion of its Partner First ecosystem with market-leading global partners and delivering consistent market-leading growth through its Taegis platform. The company's latest innovation, the AI-powered Threat Score, reduces security analyst workload by over 50% by prioritizing alerts based on the likelihood of negative impact.
Financially, SecureWorks has demonstrated solid performance, meeting its financial commitments and showing progress towards achieving profitability. In Q3 of fiscal 2024, the company reported growth in its Taegis business and expanded its gross margin, driven by operational efficiencies and ongoing investments in AI and open cloud architecture.
SecureWorks has also formed strategic partnerships, such as the collaboration with SentinelOne, to enhance cyber resilience by integrating threat intelligence and technology. This partnership aims to simplify risk management and reduce response times for organizations globally.
The company's commitment to innovation and customer success is evident through continuous enhancements to its product offerings and the integration of vulnerability risk context with threat detection. This holistic approach ensures that SecureWorks customers can prevent, detect, and respond to cyber threats more effectively.
SecureWorks Corp remains at the forefront of the cybersecurity industry, providing unmatched expertise and advanced solutions to protect organizations from evolving cyber threats.
Secureworks (NASDAQ: SCWX) reported its first quarter fiscal 2023 results, highlighting Taegis annual recurring revenue (ARR) growth of 149% year-over-year, reaching $180 million. The company added 900 customers, increasing its Taegis customer base to 1,400. Overall revenue declined to $121 million from $139.5 million in Q1 2022. A GAAP net loss of $21.6 million equated to $0.26 per share, compared to a loss of $6.4 million a year earlier. For Q2 2023, the revenue forecast is $115 million to $117 million, with full-year guidance set at $475 million to $490 million.
Secureworks (NASDAQ: SCWX) has announced the release date for its first quarter fiscal 2023 financial results, scheduled for June 2, 2022, before U.S. market trading opens. The company will also hold a conference call at 8:00 a.m. ET to discuss the results, which will be accessible via a live audio webcast on its website. Secureworks is recognized as a global cybersecurity leader, offering its cloud-native security analytics platform, Secureworks Taegis, designed to enhance detection and response to advanced threats.
Secureworks (NASDAQ: SCWX) reported Q4 and full fiscal year results, with Taegis ARR reaching $165 million, up 200% year-over-year. The company added 400 Taegis customers in Q4, totaling 1,200. Overall revenue for Q4 was $127.9 million, down 8.5% year-over-year. GAAP net loss for Q4 was $8.8 million, improving from $9.5 million last year. For fiscal 2022, total revenue was $535.2 million, a decrease of 4.6%. The company anticipates FY 2023 revenue between $475 million and $490 million, with a significant expected GAAP net loss.
Secureworks (NASDAQ: SCWX) has introduced its Hands-on-Keyboard Detector, a patent-pending feature on the Taegis™ platform designed to identify cybercriminals interacting directly with compromised systems. This innovative technology utilizes machine learning and leverages 3.3 trillion events from a 16 petabyte data lake to enhance threat detection capabilities. It aims to catch malicious activities that traditional detection methods, reliant on predefined rules, might miss. The detector is already operational and benefiting existing customers.
Secureworks (NASDAQ: SCWX) announced it will release its fourth quarter and full year fiscal 2022 financial results on March 17, 2022, before regular U.S. stock market trading hours. A conference call to discuss these results will occur at 8:00 a.m. ET, with a live audio webcast available on the company's website. Secureworks specializes in cybersecurity, leveraging its cloud-native security analytics platform, Secureworks Taegis™, to enhance threat detection and investigation capabilities.
Secureworks (NASDAQ: SCWX), a leader in cybersecurity, is set to present at the Needham Virtual Growth Conference on January 14, 2022, at 11:30 a.m. ET. The presentation will be broadcast live and archived on Secureworks' investor relations website. With over 20 years of threat intelligence, Secureworks offers the cloud-native Security analytics platform, Secureworks Taegis™, enhancing threat detection and investigation collaboration.
For more details, visit Secureworks Investor Relations.
Secureworks, recognized by Frost & Sullivan as the 2021 Company of the Year, is advancing the field of cybersecurity with its innovative Taegis XDR solution. This cloud-native platform enhances detection and response capabilities, addressing the challenges organizations face in managing multiple security solutions. The award highlights Secureworks' effective growth strategy and market leadership, particularly in response to increasing customer demands for sophisticated security operations.
Mimecast (NASDAQ: MIME) announced its integration with Secureworks (NASDAQ: SCWX) Taegis XDR, enhancing email security and cyber resilience. This collaboration provides actionable insights and a unified console for threat detection and response. With email compromise causing $1.85 billion in losses in 2020, the integration aims to offer a comprehensive view of threats by correlating email data with other security sources. Recent Mimecast research indicates 70% of organizations anticipate harm from email-borne attacks, highlighting the importance of this integration for improving security.
Secureworks (NASDAQ: SCWX) reported Q3 fiscal 2022 results, revealing key growth metrics and challenges. The company achieved Taegis annual recurring revenue (ARR) of $123 million, up 20% sequentially and 193% year-over-year, with 800 customers adopting the platform. Overall revenue fell to $133.7 million, a decline of 5.6% compared to the previous year. GAAP net loss increased to $12.9 million or $0.15 per share. For Q4, Secureworks expects revenue between $128 million and $130 million and a GAAP net loss per share of $0.24 to $0.23.
FAQ
What is the current stock price of SecureWorks (SCWX)?
What is the market cap of SecureWorks (SCWX)?
What does SecureWorks Corp specialize in?
What is SecureWorks Taegis™?
What recent achievements has SecureWorks made?
Who are SecureWorks' strategic partners?
How does SecureWorks' AI-powered Threat Score benefit organizations?
What financial performance has SecureWorks reported?
What services does SecureWorks offer?
How does SecureWorks integrate vulnerability risk context with threat detection?
What is the significance of SecureWorks' partnership with SentinelOne?
What is SecureWorks' focus on AI and automation?
