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Sep 30, 2024
SolarWinds Q3 2024 Earnings Report
SolarWinds' Q3 2024 financial results were announced, demonstrating year-over-year growth in total revenue and adjusted EBITDA, driven by customer success and platform value.
Key Takeaways
SolarWinds reported a solid quarter with total revenue of $200.0 million, a 6% year-over-year increase. Adjusted EBITDA was $96.0 million, representing a 48% margin. The company remains confident in achieving its 2024 objectives.
Total revenue for the third quarter was $200.0 million, representing 6% year-over-year growth.
Recurring revenue accounted for 94% of total revenue.
Net income for the third quarter was $12.6 million.
Subscription ARR reached $289.5 million, a 36% year-over-year increase, and Total ARR was $724.1 million, an 8% year-over-year increase.
SolarWinds
SolarWinds
SolarWinds Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comMaintenance Revenue
CapyFin.comLicense Revenue
CapyFin.com Forward Guidance
SolarWinds provided its financial outlook for the fourth quarter and updated its financial outlook for the full year of 2024.
Positive Outlook
- Total revenue in the range of $201 to $204 million for Q4 2024, representing growth of approximately 2% as compared to Q4 2023 at the midpoint of the range.
- Adjusted EBITDA of approximately $95 to $98 million for Q4 2024, representing growth of approximately 11% over Q4 2023 at the midpoint of the range.
- Non-GAAP diluted earnings per share of $0.27 to $0.28 for Q4 2024.
- Total revenue in the range of $788 to $791 million for full year 2024, representing growth of approximately 4% over full year 2023 at the midpoint of the range.
- Adjusted EBITDA of approximately $376 to $379 million for full year 2024, representing growth of approximately 15% over full year 2023 at the midpoint of the range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income