SCWX - SecureWorks shares drop after surprise full-year loss forecast

SecureWorks (SCWX) shares are down 6% after this morning's Q4 report beat revenue estimates with $139.4M (-2% Y/Y) but missed with a break-even profit, once cent below consensus.Non-GAAP gross margin was 60.2%, up from 57% in last year's quarter.Adjusted EBITDA improved from $2.3M last year to $3.2M.“We are pleased with the momentum in our Taegis platform, with over 266% annual growth in ARR for the product of $55 million, up from $15 million since the start of the fiscal year,” says CFO Paul Parrish, Secureworks. “Further, we’re excited about the future opportunity and see Taegis ARR growth continuing to accelerate.”The downside Q1 outlook has revenue of $134-136M vs. the $140.8M consensus and a loss per share of $0.02-0.04 vs. the expected $0.03 profit.For the year, SecureWorks sees revenue of $535-545M, below the $578.3M estimate, and a loss per share of $0.22-0.31 compared to the $0.20 profit consensus. The wide loss per share

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SecureWorks shares drop after surprise full-year loss forecast