Q3 Fiscal 2023 Performance Review
Dec. 1, 2022
//Secureworks/Confidential - Limited External Distribution
Disclaimers
Non-GAAP
This presentation includes information about the Company's non-GAAP
revenue, non-GAAP gross margin, non-GAAP subscription cost of revenue, non-GAAP professional services cost of revenue, non-GAAP gross profit, non-GAAP subscription gross profit, non-GAAP subscription gross margin, non-GAAP professional services gross profit, non-GAAP professional services 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), non-GAAP earnings (loss) per share and adjusted EBITDA, which are non-GAAP financial measures provided as a supplement to the results provided in accordance with accounting
principles generally accepted in the United States of America ("GAAP"). A
reconciliation of each of the foregoing non-GAAP financial measures to the most directly comparable GAAP financial measure is provided below for each of the fiscal periods indicated.
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
//Secureworks/Confidential - Limited External Distribution
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, the statements in this press release with respect to
the Company's expectations regarding revenue, GAAP net loss per
share, and non-GAAP net loss per share for the fourth quarter of fiscal 2023, and revenue, GAAP net loss, GAAP net loss per share, non-GAAP net loss, non-GAAP net loss per share, Adjusted EBITDA, cash flow from operations, capital expenditures, Taegis
annual recurring revenue, and Other MSS annual recurring revenue for full year fiscal 2023, all of which reflect the Company's current
analysis of existing trends and information. 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
//Secureworks/Confidential - Limited External Distribution
Q3 Fiscal 2023 | SOLID RESULTS: |
Strong XDR Growth:
Performance Highlights
- Taegis ARR grew to $222 million, now representing 65% of Total ARR
- Taegis Q3 Revenue of $48 million +100% y/y
- Total Q3 Revenue of $111 million (17)% y/y
- Adjusted EBITDA of $(17) million
- Taegis ARR growth of 80% y/y
- Added 800 Taegis customers y/y, a 100% increase, to end Q3 at 1,600 customers
- Taegis ARPC grew to $139k
- Announced general availability of the Taegis™ XDR platform in Japan
- Unveiled Partner First strategy, an important next step in the evolution of its Global Partner Program.
4
//Secureworks/Confidential - Limited External Distribution
Continued Strong XDR Growth Rates
Taegis Annual Recurring Revenue
$245M+ ARR | |||||
• | Taegis ARR of $222M | +80% y/y | |||
• | 1,600 Taegis customers | +100% y/y | $222M | ||
• | Taegis 65% of total ARR | ||||
$123M | |||||
FY23 Guidance | |||||
$42M | |||||
$7M | |||||
Q3 FY 20 | Q3 FY 21 | Q3 FY 22 | Q3 FY 23 | FY 23 | |
5 |
//Secureworks/Confidential - Limited External Distribution
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
SecureWorks Corp. published this content on 01 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2022 12:23:05 UTC.