SolarWinds Announces First Quarter 2020 Results
SolarWinds Corporation (SWI)
Last solarwinds corporation earnings: 4/30 04:05 pm
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Source: Business Wire
AUSTIN, Texas--(BUSINESS WIRE)--SolarWinds Corporation (NYSE: SWI), a leading provider of powerful and affordable IT management software, today reported results for its first quarter ended March 31, 2020.On a GAAP basis:Total revenue for the first quarter of $247.0 million, representing 14.4% growth on a reported basis.Total recurring revenue for the first quarter of $210.0 million, representing 18.1% growth on a reported basis. Total recurring revenue includes:Maintenance revenue for the first quarter of $116.3 million, representing 9.5% growth on a reported basis.Subscription revenue for the first quarter of $93.6 million, representing 30.8% growth on a reported basis.Net income for the first quarter of $0.4 million.On a non-GAAP basis:Non-GAAP total revenue for the first quarter of $248.5 million, representing 15.1% year-over-year growth on a reported basis and 15.9% year-over-year growth on a constant currency basis.Non-GAAP total recurring revenue for the first quarter of $21
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