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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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