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SolarWinds Corp (SWI)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17
   10-K10-K10-K10-K10-K10-K
Revenue:        
Total revenue  719.4718.6716.8669.1833.1728.0
            Total revenue growth  0.1%0.3%7.1%-19.7%14.4% 
Cost of revenue:        
Cost of recurring revenue  67.867.054.346.370.760.7
Amortization of acquired technologies  52.355.351.146.666.867.1
    Total cost of revenue  96.0227.0211.4198.1246.7231.7
    Gross profit  623.4491.6505.3471.0586.4496.3
            Gross margin  86.7%68.4%70.5%70.4%70.4%68.2%
   
Operating expenses:        
Sales and marketing  257.7236.4217.9194.3227.5205.6
Research and development  92.3101.885.875.996.386.6
General and administrative  149.5131.098.374.480.667.3
Amortization of acquired intangibles  52.355.351.146.666.867.1
Goodwill impairment  891.1     
    Total operating expenses  1,443.0524.5453.1391.1471.2426.6
    Operating income (loss)  -819.6-32.952.379.9115.269.7
            Operating margin  -113.9%-4.6%7.3%11.9%13.8%9.6%
   
Other income (expense):        
Interest expense, net  -83.4-64.5-75.9-108.1-142.0-169.8
Other income (expense), net  -5.10.5-0.50.0-94.938.7
    Total other expense  -88.4-64.1-76.4-108.1-236.9-131.1
    Income (loss) before income taxes  -908.0-96.9-24.1-28.2-121.7-61.5
Income tax expense  21.4-32.5-140.2-3.1-19.622.4
    Net income (loss)  -929.4-51.4158.518.6-102.1-83.9
   
    Net income (loss) available to common stockholders  ($5.78)($0.33)$1.01$0.12$2.60($3.50)
    Net income (loss) available to common stockholders      364.6-351.9
   
Net income (loss) available to common stockholders per share:        
Basic income (loss) per share (in dollars per share)  ($5.78)($0.33)$1.01$0.12$2.60($3.50)
Diluted income (loss) per share (in dollars per share)  ($5.78)($0.33)$1.00$0.12$2.56($3.50)
   
Weighted-average shares used to compute net income (loss) available to common stockholders per share:        
Shares used in computation of basic income (loss) per share (in shares)  160.8158.0155.3153.4140.3100.4
Shares used in computation of diluted income (loss) per share (in shares)  160.8158.0157.8153.4142.5100.4

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