SecureWorks Corp. Reports Q2 2023 Net Loss of $32.4 Million
Revenue Falls in Q2 2023 Amid Restructuring Efforts
By USInMinutes
Published - Sep 07, 2023, 11:20 AM ET
Last Updated - Sep 07, 2023, 11:20 AM EDT
SecureWorks Corp. (SCWX) has reported a net loss of $32.4 million for the second quarter of 2023, highlighting a challenging period for the cybersecurity company. While the net loss is a concern, the company has been actively restructuring its operations, which has impacted its financial performance.
Revenue Decline in Q2 2023
The company's net revenue for the quarter ended August 4, 2023, stood at $92.9 million, down from $116.2 million during the same period last year. This decline in revenue is attributed to lower subscription and professional services revenue.
- Subscription revenue for Q2 2023 was $76.8 million, down from $90.3 million in Q2 2022.
