UPDATE: SecureWorks Corp. (SCWX) Tops Q2 EPS by 4c, Revenues Beat; Offers FY19 EPS Mid-Point Outlook Above Consensus, FY19 Revenue Outlook Above Consensus

(Updated - September 5, 2018 7:07 AM EDT)

SecureWorks Corp. (NASDAQ: SCWX) reported Q2 EPS of ($0.01), $0.04 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $128.8 million versus the consensus estimate of $127.62 million.

• Revenue grew 10.8 percent over fiscal 2018 to $128.8 million, including 50 percent growth year-over-year internationally.
• Monthly recurring revenue increased 12 percent year-over-year to $36.2 million.
• Net loss of $0.12 per share and non-GAAP net loss per share of $0.01 were better than expectations and Adjusted EBITDA was $1.0 million.
• Cash flow provided by operating activities was $29.3 million.

“The global demand for cybersecurity solutions has never been greater and as a recognized industry leader, we continue to bring technology-led solutions that leverage our unique threat intelligence to provide measureable outcomes to help protect our clients,” said Michael R. Cote, Chief Executive Officer of Secureworks.

“We had a strong second quarter, finishing with MRR growth of 12% and improving operating leverage, as we continue to gain sales momentum. I am pleased with our progress and remain excited about the significant opportunity for further growth and productivity gains as we continue to execute against our objectives,” continued Mr. Cote.

GUIDANCE:

SecureWorks Corp. sees FY2019 EPS of ($0.17)-($0.15), versus the consensus of ($0.17). SecureWorks Corp. sees FY2019 revenue of $518-520 million, versus the consensus of $516.96 million.

For earnings history and earnings-related data on SecureWorks Corp. (SCWX) click here.

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