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.
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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
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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.
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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
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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.
Secureworks Corp. is a cybersecurity provider of technology-driven solutions singularly focused on protecting its customers. The Companyâs proprietary Taegis security platform utilizes an open architecture that is designed to process a variety of telemetry to see security threats and to leverage its customersâ existing investments. Its solutions collect and process vast amounts of data across the information technology (IT), ecosystem by integrating an array of proprietary and third-party security products. This open-platform approach allows it to aggregate events from a range of endpoint, network, cloud, and business systems to increase the effectiveness of its solutions. The Company offers its customers: software-as-a-service (SaaS) solutions, managed solutions and professional services, including incident response and penetration testing services. Taegis offerings include two applications, Extended Detection and Response (XDR), and Vulnerability Detection and Response (VDR).