- SolarWinds Corp (NYSE:SWI) reported a fourth-quarter FY21 revenue growth of 0.6% year-on-year to $186.7 million, beating the consensus of $181.8 million.
- Maintenance revenue declined 2.8% Y/Y to $118.5 million. Subscription revenue climbed 18.2% Y/Y to $34.4 million.
- License revenue declined 2% to $33.8 million.
- Margins: The non-GAAP gross margin contracted 160 bps to 90.7%, and the non-GAAP EBITDA margin contracted 720 bps to 42%.
- Non-GAAP EPS of $0.30 beat the consensus of $0.26.
- SolarWinds held $732.1 million in cash and equivalents.
- "We made significant progress on a number of key priorities, including customer retention, our solutions portfolio, and go-to-market expansions, due to our employees' dedication, the relevance of our solutions, and our Partners' and customers' commitment to SolarWinds," said Sudhakar Ramakrishna, CEO.
- Outlook: SolarWinds sees Q1 FY22 revenue of $173 million- $176 million, below the consensus of $178.3 million.
- It sees a non-GAAP EPS of $0.22, below the consensus of $0.25.
- SolarWinds sees FY22 revenue of $730 million - $750 million against the consensus of $739.5 million.
- It sees a non-GAAP EPS of $1.01 - $1.08, below the consensus of $1.09.
- Price Action: SWI shares traded higher by 3.05% at $13.86 on the last check Thursday.
