SecureWorks Corp. ver: 2

Q3 2021 Earnings Conference Call

12/3/2020

spk_2: Good morning and welcome to the Secureworks third quarter fiscal 2021 Financial results Conference call following prepared remarks. We will conduct a question and answer session. If you have a question, simply press star than one on your telephone keypad at any time during the presentation. At this time, all participants are to listen only mode. We are webcasting is called live on the secure network secureworks investor relations website. After the completion of the call, a recording of this call will be made available on the same site. Now I'll turn the call over to paul Perez, chief financial officer you may begin.
spk_1: Thanks everyone for joining us with me. Today is my code er Ceo and Wendy thomas, president of customer success will join us for questions at the end of our prepared remarks during this call will reference non gap financial measures including non gap revenue, gross margin operating expenses, operating income, net income, E. P. S, Ebitda adjusted Ebitda and cash flow from operations. A reconciliation of these measures to their most directly comparable gap measures can be found in our web deck and press release. Please also note that all growth percentages refer to year over year change unless otherwise specified. Finally, I'd like to remind you that all statements made during this call that relate to future results and events are far looking statements based on current expectations, actual results and events could differ materially from those projected due to a number of risks and uncertainties which are discussed in this morning's press release and our sec reports. Now I'll turn it over to mike.
spk_0: Thanks Paul. The events of 2020 have underscored how transformative technology can be to help adapt, innovate and increased productivity. Cybercrime continues to accelerate as the explosion of data and devices have expanded the attack surface and the shift to work from home has required additional cybersecurity controls and operational changes. These same events have created an opportunity for cybercriminals to exploit and capitalist on the expanding number of vulnerabilities. Our recently published incident response report highlighted increased risk areas in direct response to the pandemic. These included an increased risk with more people accessing SAS applications, delays and vulnerability, patching, circumvention of VPN connections and increased phishing attacks. This is the first time we've seen cybercriminals globally focused on one issue With threat actors using COVID-19 theme tactics to exploit vulnerabilities against this backdrop. I continue to be incredibly proud of the resiliency, determination and adaptability of my teammates and serving our customers and partners. Every day. For many years, the security industry has been overrun with thousands of point products that do not enable organizations to matter holistic defense against adversaries whose unrelenting attacks only have to succeed once through a variety of means. The adversary has consistently been able to navigate between security controls going undetected and undeterred, and organizations that lack integrated detection and response capabilities across their environment. We believe that the ability to outpace the adversary of scale requires an integrated security platform that closes the gaps between point products. Put security detection is in context of risk to an organization and automates the remediation process with agility. Our superior threat detection and remediation capabilities are accelerated with deep learning, machine learning and workflow automation to detect security risk to an organization quickly with high fidelity and to reduce both adversarial dwell time and meantime, to remediate our cloud native platform takes a different approach, Building on our expertise as a global leader and manage security over the last 20 years. Because we fundamentally believe that the only way to win this fight is through the combined power of the community working together. Why? Because the adversaries worked together, albeit in a mercenary way, increasingly leveraging the same data science and technology capabilities that the security industry does. Our integrated, inclusive, holistic approach Continues to gain momentum by allowing customers to one detect and respond to threat.
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