TECH - SolarWinds Shares Jump Following Q3 Results and Optimistic Full-Year Forecasts | Benzinga
SolarWinds Corp (NYSE: SWI) reported a third-quarter FY23 revenue growth of 6% year-on-year to $189.6 million, beating the consensus of $183.7 million.
Adjusted EPS of $0.23 beat the consensus of $0.18.
Maintenance revenue grew by 1.8% Y/Y to $116.4 million. Subscription revenue climbed 39.1% Y/Y to $58.8 million, while License revenue declined 36.7% to $14.4 million.
The adjusted gross margin was flatish at 90.8%, and the adjusted EBITDA margin increased by 570 bps to 44.9%.
SolarWinds held $235.2 million in cash and equivalents.
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