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Mar 31, 2022
SolarWinds Q1 2022 Earnings Report
SolarWinds announced first quarter 2022 results, demonstrating progress on key priorities despite a challenging macro environment.
Key Takeaways
SolarWinds reported total revenue of $176.9 million, a 1.7% year-over-year increase. The company's net loss was $4.7 million, while adjusted EBITDA reached $68.8 million, representing 38.9% of total revenue.
Total revenue for the first quarter was $176.9 million, representing 1.7% year-over-year growth.
Total recurring revenue represented 87.2% of total revenue.
Net loss for the first quarter was $4.7 million.
Adjusted EBITDA for the first quarter was $68.8 million, representing a margin of 38.9% of total revenue.
Revenue by Segment
Forward Guidance
SolarWinds provided financial outlook for the second quarter and full year of 2022, including estimates for total revenue, adjusted EBITDA margin, and non-GAAP diluted earnings per share.
Positive Outlook
- Total revenue in the range of $174 to $177 million for Q2 2022.
- Adjusted EBITDA margin of approximately 37% to 38% of total revenue for Q2 2022.
- Non-GAAP diluted earnings per share of $0.20 for Q2 2022.
- Total revenue in the range of $730 to $750 million for full year 2022.
- Adjusted EBITDA margin of approximately 41% of total revenue for full year 2022.
Challenges Ahead
- Total revenue for Q2 2022 represents a decline of 2% to flat as compared to the second quarter of 2021.
- Uncertainty regarding excluded items in future periods.
- Potential variability of excluded items could be material to GAAP results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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