The following is a summary of the SolarWinds Corporation (SWI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• SolarWinds reported Q1 2024 total revenue of $193 million, a 4% YoY growth.

• Total Annual Recurring Revenue (ARR) grew by 7%.

• Reported adjusted EBITDA is $92 million, a 19% YoY increase, with an EBITDA margin of 48%.

• Subscription ARR had a substantial YoY increase of 36%.

• Cash flow from operations stood at $36.3 million for Q1.

Business Progress:

• SolarWinds is seeing strong adoption of its hybrid cloud observability solutions, expected to exceed $100 million in total ARR for these solutions in Q2.

• It continues its transformation to a comprehensive provider of observability, database monitoring, and service management solutions, aiming to consolidate tools, cloud-modernize and maintain simplicity.

• The company now serves over 300,000 customers worldwide and has expanded its offerings to include enhanced support for various platforms.

• Investments made in the partner program aim to increase reach and cost-effectiveness.

• The FY '24 total revenue projection is between $771 million to $786 million, a 3% YoY growth with a target adjusted EBITDA of approximately $360 million to $370 million.

• Noted trends in maintenance-to-subscription migration and global 'flywheel motion' traction contribute to company growth.

• Increased revenue from hyperscalers could provide a future business tailwind.

More details: SolarWinds IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.