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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.
SolarWinds
SolarWinds
SolarWinds Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comMaintenance Revenue
CapyFin.comLicense Revenue
CapyFin.com 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.
- Forward-looking statements are based on management's beliefs and assumptions.
- Forward-looking statements involve known and unknown risks, uncertainties and other factors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income