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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
SecureWorks
SecureWorks (SCWX) investor relations material
SecureWorks has been delisted
SecureWorks Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Dec, 2024
Executive summary
Q3 FY2025 net revenue was $82.7M, down 7.4% year-over-year, with Taegis revenue up 6% to $71.4M and ARR up 4% to $288.8M.
Net loss for the quarter was $27.5M, up from $14.4M last year, mainly due to higher tax expense and merger costs.
The company completed the exit from non-strategic Managed Security Services and is transitioning to higher-margin Taegis solutions.
Secureworks entered a definitive merger agreement with Sophos, expected to close in early 2025.
Financial highlights
Q3 FY2025 net revenue declined 7.4% year-over-year to $82.7M; nine-month revenue was $250.6M.
GAAP gross profit was $56.1M (67.8% margin), up from $54.7M; non-GAAP gross profit was $58.4M.
Net loss widened to $27.5M ($0.31/share) from $14.4M ($0.17/share) year-over-year.
Adjusted EBITDA for the quarter was $1.4M, up from a $(1.2)M loss last year.
Ended the quarter with $53.1M in cash and no borrowings.
Outlook and guidance
Management expects the focus on Taegis and recent reorganization to drive cost savings and margin improvement.
Financial guidance for Q4 and FY25 is suspended due to the pending Sophos acquisition.
Sufficient liquidity is anticipated for at least 12 months, with $53.1M in cash and a $50M undrawn credit facility.
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Frequently asked questions
SecureWorks Inc. provides information security solutions that enable organizations to fortify their cybersecurity defenses and protect their sensitive data, systems, networks and assets. It operates through the Domestic (United States) and International (non-United States) segments. The Domestic segment consists primarily of domestic customers across a wide range of industries, such as retail, financial services, energy, transportation and various levels of government. The International segment consists primarily of foreign customers across a wide range of industries that require security monitoring and incident response for the international clients with business operations in the United States. SecureWorks was founded in 1998 and is headquartered in Atlanta, Georgia