Loading...
•
Jun 30, 2024
SolarWinds Q2 2024 Earnings Report
Reported second quarter results, exceeding guidance for total revenue and adjusted EBITDA.
Key Takeaways
SolarWinds reported a 4% year-over-year increase in total revenue, reaching $193.3 million, with recurring revenue comprising 93% of the total. The company's net income was $11.1 million, and adjusted EBITDA reached $92.5 million, a 48% margin of total revenue and a 17% year-over-year growth.
Total revenue grew by 4% year-over-year, reaching $193.3 million.
Recurring revenue accounted for 93% of total revenue.
Net income was reported at $11.1 million.
Adjusted EBITDA increased by 17% year-over-year, totaling $92.5 million.
Revenue by Segment
Forward Guidance
SolarWinds provided its financial outlook for the third quarter and updated its financial outlook for the full year of 2024.
Positive Outlook
- Total revenue for Q3 is expected to be in the range of $191 to $196 million, representing approximately 2% growth compared to Q3 2023.
- Adjusted EBITDA for Q3 is expected to be approximately $90 to $93 million, representing approximately 8% growth over Q3 2023.
- Non-GAAP diluted earnings per share for Q3 are projected to be $0.24 to $0.26.
- Full year 2024 total revenue is expected to be in the range of $778 to $788 million, representing approximately 3% growth over 2023.
- Full year 2024 adjusted EBITDA is projected to be approximately $368 to $375 million, representing approximately 13% growth over 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...