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SecureWorks
SecureWorks (SCWX) investor relations material
SecureWorks has been delisted
SecureWorks Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Dec, 2024
Executive summary
Q3 FY2025 net revenue was $82.7M, down 7.4% year-over-year, with Taegis revenue up 6% to $71.4M and ARR up 4% to $288.8M.
Net loss for the quarter was $27.5M, up from $14.4M last year, mainly due to higher tax expense and merger costs.
The company completed the exit from non-strategic Managed Security Services and is transitioning to higher-margin Taegis solutions.
Secureworks entered a definitive merger agreement with Sophos, expected to close in early 2025.
Financial highlights
Q3 FY2025 net revenue declined 7.4% year-over-year to $82.7M; nine-month revenue was $250.6M.
GAAP gross profit was $56.1M (67.8% margin), up from $54.7M; non-GAAP gross profit was $58.4M.
Net loss widened to $27.5M ($0.31/share) from $14.4M ($0.17/share) year-over-year.
Adjusted EBITDA for the quarter was $1.4M, up from a $(1.2)M loss last year.
Ended the quarter with $53.1M in cash and no borrowings.
Outlook and guidance
Management expects the focus on Taegis and recent reorganization to drive cost savings and margin improvement.
Financial guidance for Q4 and FY25 is suspended due to the pending Sophos acquisition.
Sufficient liquidity is anticipated for at least 12 months, with $53.1M in cash and a $50M undrawn credit facility.
Explain the rationale for suspending FY25 guidance.
How will the Sophos merger impact security solutions?
What drove the increase in GAAP net loss?
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excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
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I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
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