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SolarWinds (SWI) investor relations material
SolarWinds Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q4 2024 revenue reached $210.3M, up 6% year-over-year, with 94% from recurring sources.
Net income for Q4 was $72.7M; full-year net income totaled $111.9M.
Adjusted EBITDA for Q4 was $104.1M (49% margin, +20% YoY); full-year Adjusted EBITDA was $384.7M (48% margin, +17% YoY).
Subscription ARR grew 34% YoY to $311.7M; Total ARR rose 7% YoY to $729.0M.
Announced definitive agreement to be acquired by Turn/River Capital for $4.4B, expected to close in Q2 2025.
Financial highlights
Full-year revenue was $796.9M, up 5% YoY; recurring revenue comprised 94% of total.
Q4 gross margin was 89.9% GAAP and 90.8% non-GAAP; full-year gross margin was 89.5% GAAP and 90.7% non-GAAP.
Q4 operating income was $60.4M (GAAP), $98.9M (non-GAAP); full-year operating income was $208.4M (GAAP), $361.4M (non-GAAP).
Q4 diluted EPS was $0.41 (GAAP), $0.51 (non-GAAP); full-year diluted EPS was $0.64 (GAAP), $1.32 (non-GAAP).
Unlevered free cash flow for 2024 was $263.8M, up from $254.5M in 2023.
Segment performance
Subscription revenue for Q4 was $89.3M (+32% YoY); full-year subscription revenue was $304.5M (+30% YoY).
Maintenance revenue for Q4 was $107.9M; full-year maintenance revenue was $440.6M.
License revenue for Q4 was $13.1M; full-year license revenue was $51.8M.
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