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Mar 31, 2021
SolarWinds Q1 2021 Earnings Report
Solarwinds' Q1 2021 results were announced, demonstrating year-over-year growth in total revenue and recurring revenue.
Key Takeaways
SolarWinds reported Q1 2021 results with total revenue of $256.9 million, a 4.0% year-over-year increase. Recurring revenue grew by 10.5% to $232.0 million. The company's non-GAAP total revenue exceeded expectations, reaching $257.0 million, while adjusted EBITDA was $106.5 million.
Total revenue for the first quarter was $256.9 million, representing a 4.0% year-over-year growth.
Total recurring revenue for the first quarter was $232.0 million, representing a 10.5% year-over-year growth.
Key customers completed multi-year renewals and license expansions.
SolarWinds MSP rebranded to N-able.
SolarWinds
SolarWinds
SolarWinds Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comMaintenance Revenue
CapyFin.comLicense Revenue
CapyFin.com Forward Guidance
SolarWinds expects for the second quarter of 2021 Non-GAAP total revenue in the range of $254.0 to $258.0 million, Adjusted EBITDA in the range of $102.0 to $104.0 million, and Non-GAAP diluted earnings per share of $0.21.
Positive Outlook
- Non-GAAP total revenue growth of 3% to 5%.
- Core IT Management non-GAAP total revenue growth of approximately (1.6%) to 0.4%.
- N-able GAAP total revenue growth of approximately 14%.
- Adjusted EBITDA representing approximately 40% of non-GAAP total revenue.
- Weighted average outstanding diluted shares of approximately 319.6 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income