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.
Dell Technologies has launched a new Managed Detection and Response service powered by Secureworks Taegis XDR. This subscription-based service offers 24/7 monitoring, detection, and threat response for organizations with 50 or more endpoints. By leveraging advanced security analytics, the service aims to enhance cybersecurity for businesses and reduce the workload on IT teams. Available in North America now, and globally from May 10, the service represents a shift towards proactive security management for its users.
Secureworks (NASDAQ:SCWX) announced that its Global Partner Program has been awarded a 5-Star rating by CRN in its 2021 Partner Program Guide. This recognition highlights Secureworks' commitment to empowering its partners to combat cyberthreats through the Taegis™ XDR cloud-native security platform. Launched in May 2020, the program has grown to over 250 partners globally, offering flexibility, financial incentives, and comprehensive training. Enhanced offerings, including a new MSSP track, aim to meet rising market demand for managed security services.
Secureworks (NASDAQ: SCWX) reported its Q4 and full year 2021 financial results, highlighting key growth in its Taegis platform. Notably, Taegis annual recurring revenue (ARR) jumped 266% to $55 million, with quarterly revenue of $32.1 million. The company projects Taegis ARR will reach at least $150 million by FY 2022. While GAAP revenue for Q4 dipped 1.6% to $139.7 million, gross margin improved. Full year GAAP revenue increased 1.5% to $561 million. The firm anticipates a GAAP net loss of $63 to $71 million for FY 2022, with ongoing investments in R&D and marketing.
Secureworks (NASDAQ: SCWX) announced that it will release its fourth quarter and full year fiscal 2021 financial results on March 11, 2021, before U.S. market trading opens. A conference call will be hosted at 8:00 a.m. ET to discuss these results, with a live audio webcast available on the company's website. Secureworks is recognized as a global cybersecurity leader, providing advanced security with its Taegis platform, which leverages over 20 years of threat intelligence.
Secureworks (NASDAQ: SCWX), a leader in cybersecurity, has launched its security analytics platform, Secureworks Taegis™, along with a new Managed Security Service Provider (MSSP) initiative. This aims to strengthen cybersecurity measures globally amid increasing threats. The Taegis XDR platform delivers enhanced threat detection across cloud, endpoint, and network, and has demonstrated potential productivity gains of nearly $500K over three years. Secureworks is also offering a 30-day trial of Taegis XDR to organizations to explore its capabilities.
Secureworks (NASDAQ: SCWX) has announced Secureworks Connect, a global virtual event set for February 9, 2021, targeting approximately 1,200 security professionals. The event aims to discuss the role of data sciences and security analytics in strengthening proactive security measures. Key speakers include cybersecurity experts and analysts, who will share insights on the SolarWinds compromise and related cybersecurity strategies. Notably, studies suggest a potential 400% ROI from Managed Detection and Response services, with a payback period of under three months.
Secureworks (NASDAQ:SCWX) announces the launch of various cybersecurity services on AWS Marketplace, enhancing access to its advanced security solutions. These services include Managed Detection and Response, Cloud Security Architecture Assessment, Incident Management Retainer, and Emergency Incident Response. This initiative aligns with Secureworks' strategy to provide flexible purchasing options and broader customer access.
Secureworks (NASDAQ: SCWX) reported third quarter revenue of $141.6 million, reflecting a 0.2% increase from the previous year. Both GAAP gross margin and non-GAAP gross margin reached record highs of 57.9% and 60.7%, respectively. The company witnessed a significant growth in annual recurring revenue (ARR) of 25% from its Threat Detection and Response and Managed Detection and Response offerings. Non-GAAP net income improved to $6.7 million or $0.08 per share, up from $0.8 million or $0.01 per share in the prior year.
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?
