• Tue. Dec 1st, 2020

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Evolving Today for better Tomorrow

Pick a powerful wallet generator: SolarWinds Corporation (NYSE: SWI)

On 14 Feb 2020, SolarWinds Corporation stock identified change of 14.56% away from 52-week low price and recently located move of -14.27% off 52-week high price. SWI stock has been recorded -0.58% away from 50 day moving average and 0.49% away from 200 day moving average. Moving closer, we can see that shares have been trading -2.63% off 20-day moving average.

SolarWinds Corporation (SWI) recently stated results for its fourth quarter ended December 31, 2019.

On a GAAP basis, reflecting our adoption of the new standard ASC 606 effective January 1, 2019:

Total revenue for the fourth quarter of $247.5M, representing 11.9% growth on a stated basis.

Total recurring revenue for the fourth quarter of $202.9M, representing 16.0% growth on a stated basis. Total recurring revenue includes:

Maintenance revenue for the fourth quarter of $115.6M, representing 9.7% growth on a stated basis.

Subscription revenue for the fourth quarter of $87.3M, representing 25.4% growth on a stated basis.

Net income for the fourth quarter of $13.2M.

On a non-GAAP basis:

Non-GAAP total revenue for the fourth quarter of $249.4M, representing 12.5% year-over-year growth on a stated basis and 13.3% year-over-year growth on a constant currency basis.

Non-GAAP total recurring revenue for the fourth quarter of $204.8M, representing 16.8% year-over-year growth on a stated basis and 17.6% year-over-year growth on a constant currency basis. Non-GAAP total recurring revenue includes:

Non-GAAP maintenance revenue for the fourth quarter of $115.6M, representing 9.3% growth on a stated basis.

Non-GAAP subscription revenue for the fourth quarter of $89.2M, representing 28.1% growth on a stated basis.

Adjusted EBITDA for the fourth quarter of $122.9M, representing a margin of 49.3% of non-GAAP total revenue.

For a reconciliation of our GAAP to non-GAAP results including adjustments for the impact of ASC 606, please see the tables below.

“We had a solid finish to a successful 2019 delivering fourth quarter non-GAAP revenue of $249.4M reflecting 13% year-over-year growth, which resulted in full year 2019 non-GAAP total revenue of $938.5M,” stated Kevin Thompson, SolarWinds’ President & Chief Executive Officer. “Our fourth quarter revenue performance was within the range of our outlook, led primarily by non-GAAP subscription revenue exceeding the high end of our outlook representing 28% growth year-over-year for the quarter. In 2019, we also made important progress towards our goal of solving the full complement of IT management challenges for our consumers. We expanded our footprint in IT Operations Management through the acquisition of Samanage in the second quarter and the acquisition of VividCortex late in the fourth quarter which completed our infrastructure and application management picture. We can now help technology professionals monitor and manage all the key components of hybrid IT infrastructure through what we believe is the broadest coverage of the modern IT infrastructure and application environments.”

The Technology sector company, SolarWinds Corporation noticed change of -0.48% to $18.57 along volume of 231788 shares in recent session compared to an average volume of 495.99K. SWI’s shares are at -0.27% for the quarter and driving a -0.70% return over the course of the past year and is now at 0.11% since this point in 2018.

 

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