SCWX - SecureWorks Non-GAAP EPS of -$0.13 beats by $0.04 revenue of $116.2M in-line' updates FY guidance

• SecureWorks press release ( NASDAQ: SCWX ): Q2 Non-GAAP EPS of -$0.13 beats by $0.04 .
• Revenue of $116.2M (-13.4% Y/Y) in-line.
• Secureworks Taegis™ grew to $201 million in annual recurring revenue ( ARR ), an increase of 100% on a year-over-year basis.
• Added 800 Taegis Customers year-over-year, a 114% increase, to finish the second quarter of fiscal 2023 with 1,500 customers on the Taegis cloud-native security platform.
• Taegis revenue grew 131% from the second quarter of fiscal 2022 to $42.8 million.
• Adjusted EBITDA loss for the quarter was $14.3 million, compared with adjusted EBITDA income of $3.6 million in the second quarter of fiscal 2022.
• Ended the second quarter with $167 million in cash and cash equivalents.
• Outlook:

• For the third quarter of fiscal 2023, the Company expects: Revenue of $111 million to $113 million vs consensus of $119.08M. GAAP net loss per share of $0.36 to $0.38 and non-GAAP net loss per share of $0.20 to $0.22 vs consensus of -$0.18

• FY23: The Company expects revenue from the prior range of  $475M-$490M to $458M-$465M vs consensus of $480.32M. Non GAAP EPS from the prior range of  $(0.61)-$(0.70) to $(0.64)-$(0.70) vs consensus of -$0.67

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