Solarwinds Stock Price, News & Analysis

SolarWinds (NYSE:SWI) reported strong Q2 2024 results, with total revenue of $193.3 million, up 4% year-over-year. Recurring revenue accounted for 93% of total revenue. The company achieved a net income of $11.1 million and an Adjusted EBITDA of $92.5 million, representing a 48% margin and 17% year-over-year growth. Subscription ARR grew 36% to $269.9 million, while Total ARR increased 7% to $704.7 million.

SolarWinds highlighted product enhancements, including AI integration in its ITSM solution. The company appointed Lewis Black as the new CFO, effective August 2024. SolarWinds maintains a strong financial position with $169.6 million in cash and investments and $1.2 billion in total debt. A special cash dividend of $168.2 million was paid in April 2024.

SolarWinds (NYSE:SWI) has announced it will report its second quarter 2024 financial results on Thursday, August 1, 2024. The company will host a conference call to discuss these results at 7:30 a.m. CT on the same day. A live webcast and dial-in options will be available for investors.

SolarWinds will release its earnings report at approximately 7 a.m. CT on August 1. Additionally, the company's Group Vice President of Strategic Finance and Investor Relations, Tim Karaca, is scheduled to present at the KeyBanc Technology Leadership Forum on Tuesday, August 6, in Vail, Colorado at 10 a.m. MT.

EVPassport, the leading EV charging network in the US, has appointed Mike Milburn to its Board of Directors. Milburn, former Chief Customer Officer at Salesforce (NYSE: CRM), brings over 20 years of leadership experience in SaaS, growth, and innovation. This appointment follows EVPassport's recent $200 million investment to accelerate its end-to-end EV charging solution.

EVPassport's innovative infrastructure-as-a-service (IaaS) model has enabled rapid growth across 35 states, Canada, and Mexico. The company has deployed thousands of chargers, serving over 500 enterprise customers with a 99.97% uptime. Milburn's expertise in integrating software services and infrastructure is expected to support EVPassport's mission to build the most reliable and user-friendly EV charging network.

SolarWinds (NYSE:SWI), a leading provider of IT management software, has received numerous awards and recognitions in the first half of 2024 for its products, solutions, and executives. The company's observability, service management, and database monitoring solutions have been honored by various organizations, including CRN, CSO, and the Fortress Cybersecurity Awards.

Key achievements include:

• SolarWinds Observability named Data Observability Solution of the Year
• SolarWinds Service Desk awarded Gold for Best Advance in AI for Business Impact
• Next-Generation Build System recognized for cybersecurity innovation
• Executive recognition in CRN's Women of the Channel and Channel Chiefs lists

These accolades reflect SolarWinds' commitment to providing powerful IT management solutions and its ongoing efforts to enhance its product suite with AI features and cloud capabilities.

SolarWinds (NYSE:SWI) released its 2024 IT Trends Report, revealing IT professionals' views on AI. The survey of nearly 700 IT pros highlights a growing interest in AI adoption but also significant concerns about data quality, infrastructure readiness, and security. While 90% are using or planning to use AI, only 43% believe their company's databases can support AI needs, and 38% trust the data quality. Key issues include distrust of data powering AI, privacy and security concerns, and calls for increased government regulation. SolarWinds introduced its AI by Design framework to promote ethical and secure AI development.

SolarWinds (NYSE: SWI) has appointed Lewis Black as its new Executive Vice President, Chief Financial Officer, and Treasurer, effective August 2024. Black brings over 25 years of strategic finance expertise, having previously held significant roles at AT&T, Lucent Technologies, Avaya, Citrix, and Actian. He will succeed J. Barton Kalsu, who will step down on August 15, 2024, after 17 years at the company but will remain in an advisory role to ensure a smooth transition. SolarWinds CEO, Sudhakar Ramakrishna, praised Black for his extensive experience in transforming tech companies and expressed enthusiasm for the company's future growth under Black's financial leadership.

SolarWinds (NYSE: SWI) has launched SolarWinds AI, a generative AI engine designed to transform IT service management (ITSM). Developed under the new AI by Design framework to ensure privacy, security, and reliability, SolarWinds AI is first integrated into the SolarWinds Service Desk. This AI feature aims to improve IT outcomes by accelerating ticket resolution times, enhancing service delivery, and boosting employee satisfaction. The AI engine leverages large language models (LLMs) and proprietary algorithms to summarize ticket histories, suggest agent responses, and generate real-time recommendations for issue resolution. Future plans include expanding SolarWinds AI across the company's observability and IT management solutions. The AI by Design framework emphasizes privacy, security, accountability, fairness, transparency, trust, simplicity, and accessibility.

SolarWinds (NYSE:SWI) has unveiled significant upgrades to its Database Performance Analyzer (DPA), focusing on advanced support for PostgreSQL databases. Version 2024.2 of DPA offers unparalleled PostgreSQL support, featuring a new Tuning Advisors tool for optimizing database performance and a Migration Support function to facilitate transitions from Oracle to PostgreSQL. These enhancements aim to improve database performance, reduce bottlenecks, and lower costs. The new features are designed to provide complete observability across complex hybrid IT environments and are user-friendly for non-database professionals. SolarWinds emphasizes the role of AI-powered insights in accelerating issue resolution and optimizing database management.

SolarWinds (NYSE:SWI) reported first quarter 2024 results with total revenue of $193.3 million, 4% year-over-year growth, net income of $15.6 million, and adjusted EBITDA of $92.1 million with a margin of 48%. The company showcased strong financial performance with Subscription ARR of $251.3 million and Total ARR of $695.3 million, both showing significant year-over-year growth.