SecureWorks Corp. (NASDAQ:SCWX) shares are trading higher after it reported first-quarter FY25 results.
Revenue of $85.652 million beat the consensus of $84.198 million. Revenue fell year-over-year reflecting the strategic wind-down of the legacy Other MSS business.
Taegis revenue grew 10% Y/Y to $69.1 million, and annual recurring revenue (ARR) rose 7% Y/Y to $287 million. Taegis adjusted gross margin expanded to 74.3% from 70.0% a year ago.
Adjusted EBITDA stood at $5.6 …