That translates to a loss of 10 cents per share, which is significantly better than the 15-cent-per-share loss that the consensus analyst estimate had projected. The company posted an adjusted net loss of $8.6 million compared with $11.3 million a year earlier. Secureworks moved closer to profitability during the second quarter. “We expanded our Partner First ecosystem this quarter with global, market-leading partners, increasing our scale and market reach to further position our business for growth,” said Chief Executive Officer Wendy Thomas. The company argues that there are more growth opportunities ahead. That’s 37% more than a year earlier and up from just $33 million in the second quarter of Secureworks’ 2021 fiscal year. On an annualized basis, Taegis currently operates at a revenue run rate of $276 million. According to the company, Taegis is now used by 2,000 organizations that on average each generate $135,000 in revenue. That sales jump was partly driven by the 500 new customers Secureworks added to the platform’s installed base. Revenue from Taegis increased 55% year-over-year in the second quarter, to $66.4 million. One factor behind the sales decline is Secureworks’ ongoing effort to refocus its growth efforts on Taegis and discontinue its other, legacy cybersecurity offerings. The consensus analyst estimate projected $91.33 million. 4, Secureworks’ revenue dropped to $93 million from $116.2 million a year earlier.
SIGNAL 88 SECURITY OWNER SOFTWARE
The third component of Taegis is an offering called Taegis ManagedXDR that enables companies to purchase the software together with managed cybersecurity services. The tool can map out the systems in a network, scan them for security flaws and then prioritize those flaws based on their severity. Taegis also includes a vulnerability detection tool called Taegis VDR.
It can spot malware across organizations’ cloud infrastructure, employee devices and other technology assets. According to the company, the platform analyzes more than 470 billion cybersecurity-related data points per day.
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