SecureWorks Corp. (NASDAQ:SCWX) Q2 2020 Earnings Conference Call - Final Transcript
Sep 05, 2019 • 08:00 am ET
DSO was 80 days at the end of Q2, down from 93 days at the end of Q1 and an improvement from 94 days at the end of Q2 last year. We finished the quarter with cash of $117.7 million, and have an uncapped $30 million credit facility. CapEx was $3.6 million in the second quarter.
Now for guidance. In the third quarter of FY '20, we expect both GAAP and non-GAAP revenue to be in the range of $135 million to $137 million and we expect non-GAAP net loss per share to be between $0.03 and $0.04. For FY '20, we now expect the following, GAAP and non-GAAP revenue to be in the range of $540 million to $545 million. Adjusted EBITDA to be positive for the full year in the range of $2 million to $5 million, non-GAAP net loss per share to be $0.08 to $0.11 per share. GAAP net loss per share to be in the range of $0.52 to $0.55.
For modeling purposes, we estimate that the tax benefit rate will be approximate 24% for the remainder of the year. Cash provided by operations to be between $30 million and $35 million. We expect second half cash flow to be weighted more towards Q4 given the expected collection of the tax receivable from Dell in that quarter and CapEx to be in the range of $14 million to $16 million.
In closing, we have a strong financial foundation generating well over $500 million in revenue and producing strong cash flow for the year. We will continue to invest in the development of additional apps and software offerings to better protect our customers. As we transform the business for long term success.
I will now like to turn the call to Mike.
Michael R. Cote
Thank you, Wayne. I would like to thank my SecureWorks teammates for their continuous dedication on behalf of our customers. We have an exciting opportunity in front of us as we undergo this strategic transition. We welcome the challenge that change brings and I'm proud and energized by the commitment and adaptability of our team as we focus on delivering innovative solutions to secure our customers. On behalf of the entire SecureWorks team, we appreciate your continued interest and support.
Operator, if you'd now open the line for questions, please.