Stock Track | SecureWorks Soars on Robust Q2 Results and Upbeat Outlook

Stock Track

Sep 08, 2024

Shares of cybersecurity firm SecureWorks Corp (SCWX) surged over 8% in intraday trading on Thursday, September 6, 2024, fueled by the company's impressive second-quarter fiscal 2025 results and optimistic full-year outlook.

SecureWorks reported strong momentum in its core Taegis security platform, with Q2 Taegis subscription revenue growing 7% year-over-year to $71 million. The company's Annual Recurring Revenue (ARR) increased 5% to $290 million, driven by new customer acquisitions and expansions, while the Average Revenue Per Customer (ARPC) jumped 14% to $150,000.

Notably, SecureWorks achieved robust profitability metrics, with a non-GAAP Taegis gross margin of 74.3% and adjusted EBITDA of $1 million. The company attributed these improvements to its focus on operational efficiency, productivity enhancements, and cost discipline, leveraging automation, cloud scaling, and AI/ML capabilities across the business.

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The company's Annual Recurring Revenue (ARR) increased 5% to $290 million, driven by new customer acquisitions and expansions, while the Average Revenue Per Customer (ARPC) jumped 14% to $150,000.</p>\n\n<p>Notably, SecureWorks achieved robust profitability metrics, with a non-GAAP Taegis gross margin of 74.3% and adjusted EBITDA of $1 million. The company attributed these improvements to its focus on operational efficiency, productivity enhancements, and cost discipline, leveraging automation, cloud scaling, and AI/ML capabilities across the business.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SCWX","symbol_name":"SecureWorks Corp","start_time":0,"source_url":"","article_id":"1149181719","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1149181719","pubTimestamp":1725802577,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of cybersecurity firm SecureWorks Corp  surged over 8% in intraday trading on Thursday, September 6, 2024, fueled by the company's impressive second-quarter fiscal 2025 results and optimistic full-year outlook.SecureWorks reported strong momentum in its core Taegis security platform, with Q2 Taegis subscription revenue growing 7% year-over-year to $71 million. 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