Loading...
Loading...
- SolarWinds Corp SWI reported second-quarter FY21 non-GAAP revenue growth of 6.3% year-on-year to $262 million, beating the analyst consensus of $256.44 million.
- Non-GAAP Core IT Management revenue rose 2.1% Y/Y to $176.8 million. Non-GAAP N-able revenue increased 16.1% Y/Y to $85.2 million.
- Non-GAAP Recurring revenue grew 10.5% Y/Y to $235.3 million.
- Non-GAAP Maintenance revenue increased 5.5% Y/Y to $122.9 million. Non-GAAP subscription revenue climbed 16.7% Y/Y to $112.5 million.
- The non-GAAP gross margin contracted 140 bps to 90%, and the non-GAAP EBITDA margin contracted 590 bps to 42.4%.
- Non-GAAP EPS of $0.44 missed the analyst consensus of $0.49.
- SolarWinds generated $56.1 million in operating cash flow and held $410.6 million in cash and equivalents.
- Outlook: SolarWinds sees Q3 non-GAAP total revenue of $176.0 million- $180.0 million, below the analyst consensus of $267.2 million.
- It sees a Q3 non-GAAP EPS of $0.27, above the analyst consensus of $0.23.
- Morgan Stanley maintained Equal-Weight on SolarWinds and raised the price target to $40 from $20, implying a 77.95 upside.
- Price action: SWI shares traded higher by 3.44% at $22.83 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in