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 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.
Secureworks (NASDAQ: SCWX) has been named a Leader in the "IDC MarketScape: Worldwide Incident Readiness Services 2021 Assessment". This recognition highlights Secureworks' strong portfolio of incident readiness services that assist organizations in preparing for security attacks. The assessment evaluates Secureworks' capabilities, recognizing the value delivered through various services including Proactive Incident Response and Security Advisory Services. With a team of over 300 experts, Secureworks enhances incident readiness through deep expertise and advanced threat research.
Secureworks (NASDAQ: SCWX) is set to release its third quarter fiscal 2022 financial results on December 2, 2021, prior to the opening of U.S. stock markets. A conference call to discuss these results will take place at 8:00 a.m. ET on the same day, with a live audio webcast available on the company’s website. Secureworks is recognized as a leader in cybersecurity, utilizing its Secureworks Taegis™ platform for enhanced threat detection and response capabilities, built on 20+ years of threat intelligence.
Secureworks (NASDAQ: SCWX) announced its participation in Gartner's Virtual Security & Risk Management Summit 2021, scheduled for November 16. Key leaders, including CISO Ken Deitz, will share insights on leveraging security for digital transformation, improving employee experiences, and reducing costs. Notable topics include aligning IT initiatives with security strategies and enhancing threat detection. Attendees can also book private meetings with Secureworks experts to discuss security challenges and strategies.
Secureworks (NASDAQ: SCWX), a leader in cybersecurity, announced an expansion of its Taegis portfolio, introducing Taegis NGAV and Taegis ManagedXDR Elite services. Taegis NGAV enhances endpoint threat disruption through machine learning, while ManagedXDR Elite provides tailored, continuous threat hunting led by Secureworks experts. This expansion aims to improve customers' resilience against evolving threats. Secureworks was recently recognized as a Leader in the IDC MarketScape for Managed Detection and Response Services, highlighting its comprehensive threat visibility and capabilities.
Secureworks (NASDAQ: SCWX), a leader in cybersecurity, has attained the AWS Level 1 Managed Security Service Provider (MSSP) Competency status. This recognition highlights Secureworks' capability in delivering 24/7 managed security services across six security domains, including vulnerability management and threat detection. The AWS Level 1 MSSP Competency enhances Secureworks' differentiation as a cloud security provider. With the Taegis platform, Secureworks integrates AWS security services to improve threat analysis and response, reinforcing its commitment to customer risk management and cloud security.
Secureworks (NASDAQ: SCWX) announced the appointment of Wendy K. Thomas as President and CEO, effective September 3. She succeeds Michael R. Cote, who has retired from the position. Thomas previously served as President of Customer Success and has been with the company since 2008, holding multiple leadership roles. Her experience includes executing strategic acquisitions and developing the Secureworks Taegis platform. She aims to support Secureworks' mission to enhance cybersecurity and customer success.
Secureworks (SCWX) reported its Q2 fiscal 2022 results, revealing overall revenue of $134.2 million, a 3.1% decline year-over-year. However, its Taegis platform achieved significant milestones, with annual recurring revenue (ARR) surpassing $100 million, reflecting a remarkable 200% annual growth. The company has raised its full year 2022 Taegis ARR guidance to at least $155 million. Despite increased Taegis revenue, the overall financials showed a GAAP net loss of $11.8 million or $0.14 per share. Cash reserves stood at $197 million.
Secureworks (NASDAQ: SCWX) has been recognized as a Leader in the "IDC MarketScape: U.S. Managed Detection and Response Services 2021 Assessment." The assessment highlights Secureworks' leadership in managed detection and response, emphasizing its broad threat visibility, inclusive vendor approach, and effective threat hunting capabilities. The company’s Taegis ManagedXDR combines security expertise with AI-driven analytics, offering continuous security improvements for clients. The report reflects Secureworks' commitment to enhancing customer security, underscoring its global brand and significant market presence.
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