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Jun 30, 2021
SolarWinds Q2 2021 Earnings Report
Reported results for the second quarter ended June 30, 2021.
Key Takeaways
SolarWinds reported Q2 2021 results with a total revenue of $262.0 million, representing a 6.5% year-over-year growth. The company's non-GAAP total revenue was $262.0 million, a 6.3% year-over-year increase. Net loss for the quarter was $11.6 million.
Total revenue for the second quarter was $262.0 million, representing 6.5% year-over-year growth.
Core IT Management total revenue for the second quarter was $176.8 million, representing 2.4% year-over-year growth.
N-able total revenue for the second quarter was $85.2 million, representing 16.1% year-over-year growth.
Total recurring revenue for the second quarter was $235.3 million, representing 10.8% year-over-year growth.
SolarWinds
SolarWinds
SolarWinds Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comMaintenance Revenue
CapyFin.comLicense Revenue
CapyFin.com Forward Guidance
SolarWinds' management currently expects to achieve the following results for the third quarter of 2021 for the Core IT Management business: • Non-GAAP total revenue in the range of $176.0 to $180.0 million, representing decline over the third quarter of 2020 non-GAAP total revenue of (5)% to (3)%.
Positive Outlook
- Non-GAAP total revenue in the range of $176.0 to $180.0 million.
- Adjusted EBITDA in the range of $70.5 to $72.0 million, representing approximately 40% of non-GAAP total revenue.
- Non-GAAP diluted earnings per share of approximately $0.27.
- Weighted average outstanding diluted shares of approximately 160.2 million.
Challenges Ahead
- Revenue decline over the third quarter of 2020 non-GAAP total revenue of (5)% to (3)%.
- Uncertainty regarding excluded items in future periods.
- Potential variability of excluded items.
- Reconciliation is not available without unreasonable effort.
- Exclusion of stock-based compensation expense and related employer-paid payroll taxes, amortization, the impact of purchase accounting from acquisitions, costs related to the spin-off of SolarWinds’ N-able business, certain expenses related to the cyberattack that occurred in December 2020 (the "Cyber Incident") and other costs related to non-recurring items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income