Stock Track | SolarWinds Soars on Strong Q3 Results, Raised Outlook

Stock Track

Nov 01, 2024

Shares of SolarWinds Corp (SWI) surged 5.03% on Wednesday after the software company reported better-than-expected third-quarter financial results and raised its full-year guidance, driven by robust growth in its subscription business.

For the quarter ended September 30, 2024, SolarWinds posted revenue of $200.03 million, a 5.5% increase from the same period last year. This figure beat the consensus estimate of $194.09 million, according to Zacks Investment Research. Adjusted earnings per share (EPS) came in at $0.27, surpassing the $0.25 consensus estimate and representing an 8% earnings surprise.

The company's subscription revenue climbed 30.1% year-over-year to $76.46 million, reflecting strong demand for its cloud-based solutions. However, maintenance revenue declined 5% to $110.63 million. SolarWinds' adjusted gross margin dipped slightly to 90.5%, while its adjusted EBITDA margin improved by 310 basis points to 48%.

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This figure beat the consensus estimate of $194.09 million, according to Zacks Investment Research. Adjusted earnings per share (EPS) came in at $0.27, surpassing the $0.25 consensus estimate and representing an 8% earnings surprise.</p>\n\n<p>The company's subscription revenue climbed 30.1% year-over-year to $76.46 million, reflecting strong demand for its cloud-based solutions. However, maintenance revenue declined 5% to $110.63 million. SolarWinds' adjusted gross margin dipped slightly to 90.5%, while its adjusted EBITDA margin improved by 310 basis points to 48%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SWI","symbol_name":"SolarWinds Corp","start_time":0,"source_url":"","article_id":"1173082369","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1173082369","pubTimestamp":1730400038,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of SolarWinds Corp  surged 5.03% on Wednesday after the software company reported better-than-expected third-quarter financial results and raised its full-year guidance, driven by robust growth in its subscription business.For the quarter ended September 30, 2024, SolarWinds posted revenue of $200.03 million, a 5.5% increase from the same period last year. 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