Solarwinds Corp ( (SWI) ) has released its Q3 earnings. Here is a breakdown of the information Solarwinds Corp presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
SolarWinds Corporation is a leading provider of simple, powerful, secure observability and IT management software, catering to diverse organizations worldwide. SolarWinds recently reported its financial results for the third quarter of 2024, showing steady growth in revenue and profitability. The company achieved a total revenue of $200 million, marking a 6% year-over-year increase, and a net income of $12.6 million. Adjusted EBITDA reached $96 million, representing a 13% year-over-year growth and a 48% margin of total revenue. The Subscription Annual Recurring Revenue (ARR) showed significant growth, reaching $289.5 million, which is a 36% increase from the previous year. SolarWinds also highlighted its recent business achievements, including receiving multiple industry awards and expanding its observability capabilities. Looking ahead, SolarWinds management remains confident in achieving its 2024 objectives, forecasting a steady revenue increase for the fourth quarter and the full year, demonstrating resilience and strategic focus in the IT management sector.
