SolarWinds Corporation - SWI STOCK NEWS

SolarWinds (NYSE:SWI) has launched DBA xPress as a free tool aimed at enhancing data management for professionals. This product enables users to visually structure data environments, facilitating comparison, synchronization, and navigation of data and schemas. With a focus on promoting DataOps, DBA xPress supports automation and simplifies SQL Server cloud migrations. Key findings from a recent report indicate that implementation challenges, such as lack of training and resources, hinder DataOps adoption. The initiative supports organizations in optimizing their cloud migration processes at no cost.

SolarWinds Corporation (NYSE: SWI) reported its second quarter results for 2021, achieving a total revenue of $262.0 million, marking a 6.5% year-over-year growth. Core IT Management revenue grew by 2.4%, while N-able revenue surged 16.1%. Total recurring revenue reached $235.3 million, up 10.8%. Despite these gains, the company reported a net loss of $11.6 million. The company launched Database Insights for SQL Server and received multiple industry awards. Following the spin-off of N-able, the company's financial outlook remains positive.

SolarWinds (NYSE:SWI) has announced the opening of nominations for its second annual IT Pro Day Awards, starting August 2, 2021. This initiative aims to celebrate the essential contributions of IT professionals globally, with winners announced on IT Professionals Day on September 21, 2021. Categories include Rookie of the Year, Rockstar of the Year, IT Mentor of the Year, and Trailblazer. Nominations are open until August 31, 2021, showcasing the impactful work of IT professionals who have navigated challenges throughout the year.

SolarWinds Corporation (NYSE: SWI) announced a one-time cash dividend of $1.50 per common share, payable on August 24, 2021, to stockholders of record on August 9, 2021. The dividend reflects a reverse stock split effective on July 30, where the pre-split amount is approximately $0.75. Funding for this dividend primarily comes from the net proceeds from the separation of N-able, Inc., completed on July 19, 2021. This announcement highlights the company's commitment to returning value to shareholders while navigating post-separation impacts.

SolarWinds (NYSE:SWI) published its eighth annual IT Trends Report 2021: Building a Secure Future, focusing on enterprise IT risk post-pandemic. The report reveals that 38% of tech professionals perceive medium risk exposure, with external security threats cited by 21% as a significant concern. Despite high risk awareness, 72% feel prepared to manage risks. Key technology investments include AI/machine learning and managed services, although challenges like lack of training (43%) persist. The report emphasizes the importance of aligning IT strategies with business leadership to enhance risk management and security.

SolarWinds Corporation (NYSE: SWI) announced a 2-for-1 reverse stock split effective July 30, 2021, reducing outstanding shares from approximately 316 million to about 158 million. The split aims to enhance the company's stock performance without changing the par value of shares. This adjustment will be implemented automatically for stockholders with shares held through brokerage accounts. No fractional shares will be issued; any resulting fractions will be rounded up to the nearest whole share.

SolarWinds Corporation (NYSE: SWI) has completed the spin-off of its managed service provider (MSP) business, now operating as a standalone company named N-able, Inc. (NYSE: NABL) as of July 19, 2021. SolarWinds will focus on its Core IT Management business, while N-able will offer cloud-based solutions for MSPs aimed at enhancing digital transformation for small and medium enterprises. Shareholders of SolarWinds received one share of N-able stock for every two shares they held as of July 12, 2021.

SolarWinds (NYSE: SWI) will report its financial results for Q2 2021 on August 3, 2021. A conference call will take place at 7:30 a.m. CT to discuss these results. The earnings release is scheduled for 7:00 a.m. CT on the same day. SolarWinds focuses on IT management software, serving a global client base across various organizational types and sizes. Their solutions help monitor and manage IT services and applications, whether on-premises or in the cloud.

SolarWinds Corporation (NYSE:SWI) and N-able, Inc. (NYSE:NABL) announced preliminary financial results for Q2 2021. SolarWinds expects total revenue between $260.8 million to $262.0 million, reflecting a 6% year-over-year growth and a net loss of $10.4 million to $11.3 million. Core IT Management revenue is projected to be $176.0 million to $177.0 million, marking a 2% increase. N-able anticipates revenue in the range of $84.8 million to $85.0 million, representing 16% year-over-year growth.