SolarWinds Corporation - SWI STOCK NEWS

SolarWinds (NYSE:SWI) has announced the appointment of three new executives: Rohini Kasturi as EVP, Chief Product Officer; Tim Brown as Chief Information Security Officer; and Andrea Webb as SVP, Chief Customer Officer. These appointments are aimed at enhancing customer experience, security, and product innovation amid evolving hybrid IT demands. CEO Sudhakar Ramakrishna emphasized that these roles are crucial for the company's transformation and growth, aligning with its commitment to delivering secure and affordable IT solutions.

SolarWinds (NYSE: SWI) reported its Q1 2021 financial performance, achieving total revenue of $256.9 million (4.0% YoY growth) and recurring revenue of $232.0 million (10.5% YoY growth). Subscription revenue increased by 16.4% to $109.0 million. However, the company posted a net loss of $7.2 million. Adjusted EBITDA was $106.5 million, with a margin of 41.4%. The CEO highlighted key customer renewals and the launch of the APM Integrated Experience to enhance service delivery. SolarWinds also plans to continue expanding its database monitoring segment.

N-able, previously known as SolarWinds MSP, has announced an integration of its N-central platform with Microsoft Intune, enhancing managed services providers' (MSPs) ability to manage and secure clients' apps and devices. This integration allows users to view Intune-managed devices within a single dashboard, improving operational efficiency and data protection through consolidated alerts and reporting. N-able aims to streamline the management process for partners using Microsoft software, ultimately saving time and bolstering security for their customers.

N-able, a technology partner for managed services providers, has appointed Mike Adler as the new chief technology and product officer. Adler brings over 20 years of experience from roles at RSA, Constant Contact, and Symantec. He aims to lead product advancements to benefit N-able's MSP partners and enhance their customer offerings. John Pagliuca, N-able's president, expressed confidence in Adler's technical expertise to further the company's growth trajectory. N-able's commitment to empowering MSPs with a robust technology platform remains a key focus.

SolarWinds (NYSE:SWI) has improved its position in the Gartner Magic Quadrant for Application Performance Monitoring (APM), now ranked in the Niche Quadrant. The recognition reflects advancements in its APM Integrated Experience, which simplifies access to performance metrics, traces, logs, and user experience. Chief Product Officer Rohini Kasturi highlighted enhancements aimed at maximizing observability and user experience. This acknowledgment marks the third consecutive year of recognition in the Magic Quadrant, emphasizing SolarWinds' commitment to providing affordable IT management solutions.

N-able, previously SolarWinds MSP, has partnered with DNSFilter to enhance its security offerings for managed services providers (MSPs). This collaboration integrates DNSFilter's cloud-based security solution with N-able's N-central and RMM, which aims to protect end-users from phishing, ransomware, and social engineering attacks. With rising phishing attempts, the AI-driven capabilities of DNSFilter can identify malicious domains faster. The rollout is planned for spring, providing MSPs with better threat insight and user-based reporting, crucial for the current remote working environment.

SolarWinds Corporation (SWI) announced preliminary financial results for Q1 2021, expecting total revenue between $255.8 million and $256.8 million, reflecting 4% year-over-year growth. Core IT Management revenue is projected at $173.1 million to $173.9 million, unchanged from last year. N-able revenue is estimated to grow by 13% to $82.7 million to $82.9 million. The net loss is expected to be between $16.6 million and $16.9 million. Adjusted EBITDA is anticipated to be around $103 million to $106 million, indicating a strong margin.

SolarWinds (NYSE: SWI) has filed a Form 10 registration statement with the SEC for the spin-off of its MSP business into a new company named N-able, Inc. The filing provides preliminary information about N-able’s business and financials. While SolarWinds plans to complete the spin-off by Q2 2021, completion is subject to board approval and other conditions, with no guarantee of finalization. The registration statement is available on the SEC's website and will be updated as more details are finalized.

SolarWinds (NYSE:SWI) announced its participation in the Cisco Live! digital event from March 30 to April 1, 2021. The company will showcase three key IT monitoring tools: NetPath, PerfStack, and Orion Maps. These tools are vital for monitoring technologies adopted during the COVID-19 pandemic, helping IT professionals optimize performance across infrastructures and applications. Brandon Shopp, SolarWinds VP, emphasized the importance of effective monitoring amid rapid changes in IT operations. The event includes a session titled "Conquering the Next Normal," focusing on best practices for monitoring.