UPDATE: SecureWorks Corp. (SCWX) Tops Q3 EPS by 3c, Beats on Revenues; Offers Q4 & FY18 EPS/Revenue Guidance
SecureWorks Corp. (NASDAQ: SCWX) reported Q3 EPS of ($0.06), $0.03 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $118 million versus the consensus estimate of $115.66 million.
Fourth Quarter and Full Fiscal Year 2018 Guidance
Based on current market conditions and third quarter performance, the Company expects the following results for the fourth quarter and full fiscal year ending on February 2, 2018:
For the fourth quarter, the Company expects:
- Revenue to be in the range of $117 to $118 million on both a GAAP and non-GAAP basis.
- Net loss per share to be in the range of $0.17 to $0.18 and non-GAAP net loss per share to be in the range of $0.08 to $0.09.
- Approximately 80.362 million weighted average shares to be outstanding during the fourth quarter of fiscal 2018.
For fiscal year 2018, the Company now expects the following results, updating previously announced full year guidance:
- Revenue to be in the range of $464 to $465 million and non-GAAP revenue to be in the range of $465 to $466 million.
- Net loss to be in the range of $51 to $52 million and adjusted EBITDA loss to be in the range of $22 to $23 million.
- Net loss per share to be in the range of $0.64 to $0.65 and non-GAAP net loss per share to be in the range of $0.29 to $0.30.
- Monthly recurring revenue to be in the range of $34.4 to $35.0 million at the end of the fourth quarter of fiscal 2018.
Highlights:
- Revenue increased 10 percent year-over-year to $118 million.
- Gross margin increased 270 basis points over last year; non-GAAP gross margin increased 230 basis points over last year.
- Monthly recurring revenue grew 8 percent year-over-year to $33.4 million.
- GAAP loss per share was $0.14; non-GAAP loss per share was $0.06.
For earnings history and earnings-related data on SecureWorks Corp. (SCWX) click here.