{"id":6916,"date":"2023-10-30T03:30:34","date_gmt":"2023-10-30T03:30:34","guid":{"rendered":"https:\/\/infundpros.com\/markets\/stocks\/solarwinds-anticipates-revenue-growth-considers-sale-after-2020-cyberattack\/"},"modified":"2023-10-30T03:30:34","modified_gmt":"2023-10-30T03:30:34","slug":"solarwinds-anticipates-revenue-growth-considers-sale-after-2020-cyberattack","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=6916","title":{"rendered":"SolarWinds anticipates revenue growth, considers sale after 2020 cyberattack"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Austin-based IT software company SolarWinds Corp (NYSE:SWI), controlled by Silver Lake Management and Thoma Bravo, is contemplating a sale amidst ongoing efforts to rebuild trust following a significant cyberattack in 2020. The company has announced plans to initiate a sales process in early 2024, according to information released today.<\/p>\n

The decision to consider a sale comes after the cyberattack, attributed to Russian hackers, compromised the data of 18,000 customers and sparked a US inquiry into a government email breach involving Microsoft (NASDAQ:). This event exposed vulnerabilities in SolarWinds’ software and led to the infiltration of numerous government entities and private firms.<\/p>\n

In response to these challenges, SolarWinds is working on enhancing its security measures. The company has enlisted financial advisers for the upcoming sales process.<\/p>\n

SolarWinds’ shares have seen a significant drop of 44% since its IPO in 2018, including a further decline of 5% this year. However, today, SWI shares saw a 6.6%. This increase was supported by Q2 FY23 revenue growth of 5% YoY to $185 million and an adjusted EPS of $0.21, both exceeding consensus estimates.<\/p>\n

Looking ahead, SolarWinds anticipates FY23 revenue between $740-748 million and non-GAAP EPS of $0.76-$0.79. The company’s majority stakeholders, Silver Lake and Thoma Bravo, who hold a 68% stake, are keen to restore customer confidence as they navigate these changes.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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