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) announced its participation in the DA Davidson virtual investor conference on September 9, 2021, at 10 a.m. Eastern Time. This presentation aims to showcase the company's advancements in cybersecurity and its innovative cloud-native security analytics platform, Secureworks Taegis. Attendees can access the live webcast and archived presentation on Secureworks' investor relations website.
Secureworks (NASDAQ: SCWX) announced its participation in the Black Hat USA conference, showcasing innovative cloud-based cybersecurity solutions. The company emphasizes the importance of advanced threat detection through Taegis XDR and VDR, enhanced by extensive threat intelligence. A new tool, Adversary Software Coverage (ASC), will also be demonstrated, allowing users to explore security mappings with MITRE ATT&CK techniques. Secureworks aims to bolster security operations efficiency amidst evolving cyber threats, particularly in light of rising ransomware incidents.
Secureworks (NASDAQ: SCWX) announced the launch of its new Taegis™ XDR cloud data storage instance in Frankfurt, Germany, aimed at EU customers and partners. This expansion highlights the company's commitment to meeting growing cybersecurity demands within the EU while ensuring compliance with GDPR regulations. The Taegis XDR solution incorporates over 20 years of security expertise and AI-driven analytics, enhancing data protection and operational efficiency. Additionally, Secureworks has released over 50 new features in the past six months based on user feedback, further improving its service offerings.
Secureworks (NASDAQ: SCWX) has integrated its Counter Threat Unit™ (CTU) threat intelligence feeds into the Taegis™ VDR for enhanced vulnerability detection and response. This new capability allows organizations to identify and address high-risk vulnerabilities more effectively. By utilizing advanced machine learning, Taegis VDR prioritizes vulnerabilities based on 50 factors, improving remediation efforts by up to 15x. Secureworks CTU conducts over 1,400 incident-response engagements each year, solidifying its role in enhancing cybersecurity for businesses.
Secureworks has appointed Tracey Mustacchio as its new Chief Marketing Officer, signaling a strategic move to enhance its global marketing and growth initiatives. This appointment comes at a critical time as Secureworks aims to leverage its cybersecurity expertise with innovative security analytics solutions. The company has recently been recognized for its Taegis ManagedXDR and introduced a new partnership with Dell Technologies. CEO Wendy K. Thomas emphasizes the importance of this leadership change in improving customer data security while driving revenue growth.
Secureworks (NASDAQ: SCWX) has enhanced its Global Partner Program with the introduction of the Technology Alliance Partner program, aimed at integrating solutions into the Taegis security operations platform. The partnership will enable enhanced threat detection capabilities through third-party integrations from major technology companies like AWS and Zscaler. Since its launch in May 2020, the Global Partner Program has seen the addition of over 300 partners, with significant momentum from Managed Service Providers (MSPs) leveraging Taegis XDR for improved security services.
Secureworks (NASDAQ: SCWX) announced its first quarter fiscal 2022 results, reporting revenue of $139.5 million, a 1.2% decrease year-over-year. Notably, the Taegis platform achieved a 191% growth in annual recurring revenue (ARR) to $72 million. GAAP gross margin improved to 59%, while non-GAAP gross margin reached 61.9%. The company raised its full-year revenue guidance to $540-$550 million. However, it anticipates a GAAP net loss between $48-$57 million for the fiscal year. Cash reserves stood at $181 million as of the quarter's end.
Secureworks (NASDAQ: SCWX) announced that CEO Michael R. Cote will retire on September 3, 2021, after nearly two decades. Wendy K. Thomas, currently the President of Customer Success, has been appointed to succeed him. Cote, who joined in 2002, led the company’s growth from under $1 million in revenue to over $550 million and its acquisition by Dell Technologies. Thomas has been a key player in the company's strategic initiatives, including the launch of the Taegis™ cloud-native security analytics platform.
Secureworks (NASDAQ:SCWX) has entered a distribution agreement with NEXTGEN to enhance the availability of its Taegis™ XDR security analytics platform throughout the Asia Pacific region. This cloud-native solution leverages 20 years of threat intelligence and aims to address cybersecurity challenges for organizations. The partnership will enable NEXTGEN to distribute various services, including managed XDR and incident response solutions, to its extensive network of partners and customers, ultimately strengthening the cybersecurity ecosystem in the region.
Secureworks (NASDAQ: SCWX) plans to release its first quarter fiscal 2022 financial results on June 3, 2021, before U.S. stock market opens. A conference call is scheduled for 8:00 a.m. ET to discuss the results, and the audio webcast will be available on the company's website for one year. Secureworks is recognized as a leading global cybersecurity provider, utilizing its Secureworks Taegis™ platform to enhance threat detection and streamline investigations.
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