Secureworks Climbs on Q4 Figures

Secureworks Corp (NASDAQ:SCWX) saw its shares soar Friday, on presentation of its fourth-quarter financial figures.

The Atlanta-based company, which bills itself as “the essential cybersecurity company for the digitally connected world, told investors fourth-quarter revenue GAAP increased 8.6% to $142.0 million.

GAAP gross margin was 54.4% in the fourth quarter of fiscal 2020, compared with 53.4% in the same period last year. Non-GAAP gross margin was 57% compared with 56% in the fourth quarter of fiscal 2019.

GAAP net loss was $5.2 million, or $0.06 per share, in the fourth quarter of fiscal 2020, compared with $11.8 million, or $0.15 per share, in the prior year. Non-GAAP net income was $1.9 million, or $0.02 per share, in the fourth quarter of fiscal 2020, compared with $1.5 million, or $0.02 per share, in the same prior year period.

Adjusted EBITDA for the quarter was $2.3 million, compared with $4.8 million in the fourth quarter of fiscal 2019. Cash provided by operating activities for the fourth quarter of fiscal 2020 was $43.0 million.

Secureworks ended the fourth quarter with $181.8 million in cash and cash equivalents.

Said CEO Michael Cote, “"n the fourth quarter, we more than tripled the number of Managed Detection and Response (MDR) customers on our new platform over the previous quarter.

"We are well-positioned to continue delivering on our transformational efforts to be the industry-leading security platform and software provider, backed by a world-class threat intelligence unit."

SCWX shares popped 49 cents, or 4.1%, to $12.41