Bulletin: SolarWinds Holdings Inc. Raises Full-Year EBITDA Guidance On Good First-Quarter Results

This report does not constitute a rating action. SAN FRANCISCO (S&P Global Ratings) May 21, 2024—Network management and security software provider SolarWinds Holdings Inc. reported a good first quarter, with revenue reaching $193 million, up 4% year over year and exceeding the high end of the guidance range by $1 million. Despite an uneven macroeconomic environment, the company's value proposition continues to resonate with customers seeking to consolidate their security tools. Management-defined EBITDA of $92 million surpassed the high end of the guidance range by $7.6 million, driven by effective expense controls. SolarWinds raised its full-year 2024 EBITDA guidance by $10 million, projecting 11% growth and maintaining its revenue growth forecast of 3%. The trailing-12-months renewal rate improved to 97%

...May 21, 2024 This report does not constitute a rating action. SAN FRANCISCO (S&P Global Ratings) May 21, 2024--Network management and security software provider SolarWinds Holdings Inc. reported a good first quarter, with revenue reaching $193 million, up 4% year over year and exceeding the high end of the guidance range by $1 million. Despite an uneven macroeconomic environment, the company's value proposition continues to resonate with customers seeking to consolidate their security tools. Management-defined EBITDA of $92 million surpassed the high end of the guidance range by $7.6 million, driven by effective expense controls. SolarWinds raised its full-year 2024 EBITDA guidance by $10 million, projecting 11% growth and maintaining its revenue growth forecast of 3%. The trailing-12-months renewal rate improved to 97% from a recent low of 88% in the fourth quarter of 2021, demonstrating a continued recovery from the Sunburst breach in 2020. Annual recurring revenue (ARR) increased 7%...

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