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OFFON

SECUREWORKS CORP.

(SCWX)
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SecureWorks : Q2 Fiscal 22 Performance Review Presentation

09/02/2021 | 09:52am EDT

Q2 Fiscal Performance Review

Sep. 2, 2021

Disclaimers

Non-GAAP

Financial Measures

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."

Operating Metrics

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.

2

Special Note on Forward

Looking Statements

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.

Our Vision

Our Purpose

3

Q2 Fiscal 2022

Performance Highlights

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.

4

Q 2 F I S C A L 2 0 2 2

Taegis Traction & ARR Momentum

Taegis ARR of $101M

+39% Q/Q

24% of total ARR

+7% Q/Q

+28.2

700 Taegis customers

+40% Q/Q

+17.5

+12.9

+8.5

+8.6

+9.4

+8.6

+6.1

+0.8

+$155M ARR

On track to

FY22 Guide

1Q20

2Q20

3Q20

4Q20

1Q21

2Q21

3Q21

4Q21

1Q22

2Q22

FY 22

//Secureworks/Confidential - Limited External Distribution

5

Disclaimer

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.


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Wendy K. Thomas President, Chief Executive Officer & Director
Paul M. Parrish Chief Financial Officer & Senior Vice President
Michael Saul Dell Non-Executive Chairman
Kevin Hanes Chief Operating Officer
George Barry Hanna Secretary, Chief Legal & Administrative Officer
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