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SecureWorks Corp. IPO Info

SecureWorks Corp.

Company Name: SecureWorks Corp.
Stock Symbol: SCWX
Exchange: NASDAQ
Status: Priced
IPO Date: 4/22/2016
IPO Price: 14.00 (-24.36%)
Underwriters
BofA Merrill Lynch, Morgan Stanley, Goldman, Sachs & Co., J.P. Morgan, Barclays, Citigroup, Credit Suisse, RBC Capital Markets, UBS Investment Bank, Pacific Crest Securities, Stifel, SunTrust Robinson Humphrey, William Blair

Amount of Offering: N/A
Number of Shares Offered: 8 Mil
Shares Outstanding After Offering: N/A
Valuation: N/A
Company Description
SecureWorks is a leading global provider of intelligence-driven information security solutions exclusively focused on protecting our clients from cyber attacks.
Financial Data
Financial commentary: "We generate revenue from our managed security and threat intelligence solutions through subscription-based arrangements, which provide us with a highly visible and recurring revenue stream, as well as revenue from our security and risk consulting engagements through fixed-price or retainer-based contracts. Our total revenue was $262.1 million in fiscal 2015, $205.8 million in fiscal 2014 and $172.8 million in fiscal 2013, for annual growth of 27% and 19%, respectively. For the first nine months of fiscal 2016 and fiscal 2015, our total revenue was $245.4 million and $190.7 million, respectively, representing a 29% growth rate. Our subscription revenue was $207.2 million in fiscal 2015, $170.2 million in fiscal 2014 and $145.1 million in fiscal 2013, for annual growth of 22% and 17%, respectively. For the first nine months of fiscal 2016 and fiscal 2015, our subscription revenue totaled $195.6 million and $149.9 million, respectively, representing a 31% growth rate. We incurred net losses of $38.5 million in fiscal 2015, $44.5 million in fiscal 2014 and $41.5 million in fiscal 2013. For the first nine months of fiscal 2016 and fiscal 2015, we incurred net losses of $57.5 million and $29.5 million, respectively."

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