This presentation includes information about SecureWorks Corp.'s non-GAAP revenue, non-GAAP subscription cost of revenue, non- GAAP professional services cost of revenue, non-GAAP gross profit, non-GAAP gross margin, non-GAAP research and development expenses, non-GAAP sales and marketing expenses, non-GAAP general and administrative expenses, non-GAAP operating income (loss), non-GAAP net income (loss), adjusted EBITDA, and non- GAAP earnings (loss) per share, which are not measurements of financial performance prepared in accordance with U.S. generally accepted accounting principles. We have provided a reconciliation of the non-GAAP measures to the most directly comparable GAAP measures in the slides captioned "Reconciliation GAAP to non-GAAP Financial Measures."
The Company defines annual recurring revenue (ARR) as the value of its subscription contracts as of a particular date. Because the Company uses recurring revenue as a leading indicator of future annual revenue, it includes operational backlog. Operational backlog is defined as the recurring revenue associated with
pending contracts, which are contracts that have been sold but for which the service period has not yet commenced.
Special Note on Forward
Statements in this material that relate to future results and events are forward-looking statements and are based on SecureWorks Corp.'s current expectations. These forward-looking statements include but are not limited to SecureWorks Corp.'s current expectations regarding GAAP revenue, non-GAAP revenue, GAAP net loss per share and non-GAAP net loss per share for the third quarter of fiscal 2022, and GAAP revenue, non-GAAP revenue, Adjusted EBITDA, non-GAAP net loss per share, net loss per share, cash flow from operations, capital expenditures, tax benefit rate, annual recurring revenue and revenue for the Taegis platform for the full year of fiscal 2022. In some cases, you can identify these statements by such forward-looking words as "anticipate," "believe," "could," "estimate," "expect," "intend," "confidence," "may," "plan," "potential," "should,"
"will" and "would," or similar expressions. Actual results and events in
future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors, including those discussed in SecureWorks Corp.'s periodic reports filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this presentation. SecureWorks Corp. assumes no obligation to update its forward-looking statements.
Q2 Fiscal 2022
SOLID 2Q22 RESULTS:
Taegis ARR surpasses $100 million, representing 24.2% of Total ARR
Revenue of $134.2 million (-3%Y/Y)
Gross margin percentage
of 61% (+140 bps Y/Y)
Adjusted EBITDA of $3.6 million
Earnings per Share of $0.01
Taegis ARR growth of 200% y/y
Taegis customer count up +40% Q/Q to 700 customers
Raising full fiscal year 2022 Taegis ARR guidance to at least $155 million by end of fiscal year 2022.
Secureworks referenced as No. 8 in
The Top 100 Software Companies of
2021 by The Software Report.
Q 2 F I S C A L 2 0 2 2
Taegis Traction & ARR Momentum
Taegis ARR of $101M
24% of total ARR
700 Taegis customers
On track to
//Secureworks/Confidential - Limited External Distribution
SecureWorks Corp. published this content on 02 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 September 2021 13:51:04 UTC.