Q2 2025 SecureWorks Corp Earnings Call Transcript
Key Points
- Taegis revenue grew 7% year over year to $71 million.
- Annual recurring revenue (ARR) stands at $290 million, driven by new customer acquisition and expansion.
- Non-GAAP Taegis gross margin of 74% grew by 360 basis points year over year.
- SecureWorks was recognized as the gold winner in the Golden Bridge Awards for AI and cybersecurity innovation.
- Positive adjusted EBITDA was delivered once again this quarter.
- Total revenue growth was impacted by a $13 million decline from the wind-down of non-strategic legacy business.
- GAAP net loss was $15 million for the second quarter.
- ARR growth was only 5% year over year, showing further degradation from the previous quarter.
- Some deals closed earlier in the quarter, which may not indicate a sustainable trend.
- The company faced $1.3 million in redundant or transitional costs associated with the end-of-life of its other MSS business.
Good morning. My name is Colin, and I'll be the conference operator for today. At this time, I'd like to welcome everyone to the SecureWorks' second quarter fiscal 2025 financial results conference call. (Operator Instructions) A supplemental slide presentation to company's prepared remarks can be found on the company's website.
(Operator Instructions) At this time, I would like to turn the call over to Kevin Toomey, SecureWorks' Vice President of Investor Relations. Mr. Toomey, please begin.
Thank you, operator. Good morning, and welcome to the SecureWorks' second quarter fiscal 2025 earnings call. Joining me today are Wendy Thomas, our Chief Executive Officer; and Alpana Wegner, our Chief Financial Officer.
During this call, unless otherwise indicated, we will reference non-GAAP financial measures. You'll find the reconciliations between these GAAP and non-GAAP measures in the press release and presentation posted on our website earlier today.
Finally, I'd like to
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
