SecureWorks Corp. ver: 2

Q1 2022 Earnings Conference Call

6/3/2021

spk_3: Good morning and welcome to the Secureworks first quarter fiscal 2022 financial results Conference call following prepared remarks. We will conduct a question and answer session. If you have a question, simply press star then one on your telephone keypad. At any time during the presentation. At this time, all participants are to listen only mode. We are webcasting this call live on the secureworks investor relations website. After the completion of the call, a recording of the call will be made available on the same site. Now I will turn the call over to paul Parish chief financial officer. You may begin.
spk_1: Thank you everyone for joining us with me. Today is mike Cody, our Ceo and Wendy thomas. R president of customer success During this call will reference non gap financial measures including non gap revenue, gross margin operating expenses, operating income, net income earnings per share, 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 which are available on our I our website. 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 our press release Web deck and sec filings. We assume no obligation to update our forward looking statements Now I'll turn it over to mike.
spk_2: Thanks paul and thank you everyone for joining us on this call. I appreciate your interest insecure works. Before I discuss the quarter, I'm announcing my upcoming retirement as Ceo and a member of the Security Sport of directors effective september 3rd 2021. It's been an incredible pleasure and honor to have served as ceo of security for almost 20 years. I thank our board of directors and all of my Secureworks teammates over the years for this incredible opportunity. When I joined Secureworks in 2002, we were a small team with a vision to protect organizations from the growing threat of cybercrime. Now, nearly 20 years later, security is a global leader in cybersecurity with the best threat intelligence and products to secure our customers and partners. We have grown from less than $1 million dollars in revenue to over half a billion dollars. We had a great first quarter which you will hear more about in a few minutes and we continue to execute on our strategy. Our future is even brighter as our momentum, contagious customer acquisition revenue and A. R. R continues to accelerate. I put a lot of thought and preparation into this decision, working closely with the board in recent years to prepare for this transition as we implement our succession plan. As a result, I am pleased to share that with my full support and recommendation. The secure export of directors has appointed Wendy thomas to succeed me as the company's next president and Ceo effective september 3rd 2021. Wendy has been with secures for nine years and has been instrumental in driving the company strategy, including our focus on software development and the launch of pages. Please join me in congratulating Wendy.
spk_0: Thank you Mike. It's a privilege to serve as our next president and Ceo. We're at a pivotal point in our business and I'm confident that the momentum of our transformation will drive value for all of our stakeholders. I will be working closely with Mike in the coming months to ensure a seamless transition. And I'd also like to thank Mike for his leadership and mentor ship. Over the years. Mike has built the company into what it is today and I know I speak for so many in wishing him the very best. Now. I'd like to turn it back over to mike to go through the business results.
spk_2: Thanks Wendy. Wendy will also join me and paul to answer questions during the Q and A. At the end of this call, as I look across the threat, landscape organizations are facing an increasingly complex and hostile threat environment, conventional point products operating in silos are not keeping up with the adversarial tradecraft, resulting in an increasing number of breaches. Organizations need comprehensive visibility into IT, infrastructure and efficient detection and response to attacks. But the market is overloaded with more
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