SolarWinds (SWI) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-38711
Entity Registrant Name	SolarWinds Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-0753267
Entity Address, Address Line One	7171 Southwest Parkway
Entity Address, Address Line Two	Building 400
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78735
City Area Code	512
Local Phone Number	682.9300
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	SWI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		160,513,119
Entity Central Index Key	0001739942
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 751,218	$ 732,116
Accounts receivable, net of allowances of $693 and $476 as of March 31, 2022 and December 31, 2021, respectively	98,231	95,095
Income tax receivable	1,343	1,114
Prepaid and other current assets	22,559	30,515
Total current assets	873,351	858,840
Property and equipment, net	27,974	29,722
Operating lease assets	71,373	74,318
Deferred taxes	141,512	144,162
Goodwill	3,299,468	3,308,405
Intangible assets, net	311,874	342,563
Other assets, net	36,197	34,117
Total assets	4,761,749	4,792,127
Current liabilities:
Accounts payable	7,188	7,327
Accrued liabilities and other	32,994	41,328
Current operating lease liabilities	14,938	14,382
Accrued interest payable	171	153
Income taxes payable	6,483	3,086
Current portion of deferred revenue	329,017	327,701
Current debt obligation	19,900	19,900
Total current liabilities	410,691	413,877
Long-term liabilities:
Deferred revenue, net of current portion	35,458	34,968
Non-current deferred taxes	10,713	16,918
Non-current operating lease liabilities	70,713	74,543
Other long-term liabilities	88,786	93,156
Long-term debt, net of current portion	1,868,010	1,870,769
Total liabilities	2,484,371	2,504,231
Stockholders’ equity:
Common stock, $0.001 par value: 1,000,000,000 shares authorized and 160,456,486 and 159,176,042 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	160	159
Preferred stock, $0.001 par value: 50,000,000 shares authorized and no shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	0	0
Additional paid-in capital	2,577,818	2,566,783
Accumulated other comprehensive income (loss)	(15,589)	1,306
Accumulated deficit	(285,011)	(280,352)
Total stockholders’ equity	2,277,378	2,287,896
Total liabilities and stockholders’ equity	$ 4,761,749	$ 4,792,127

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Allowance for credit loss, accounts receivable	$ 693	$ 476
Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, issued (in shares)	160,456,486	159,176,042
Common stock, outstanding (in shares)	160,456,486	159,176,042
Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Total revenue	$ 176,868	$ 173,856
Cost of revenue:
Cost of recurring revenue	17,831	15,654
Amortization of acquired technologies	17,227	40,417
Total cost of revenue	35,058	56,071
Gross profit	141,810	117,785
Operating expenses:
Sales and marketing	61,044	57,666
Research and development	23,422	26,358
General and administrative	32,664	30,865
Amortization of acquired intangibles	13,239	14,038
Total operating expenses	130,369	128,927
Operating income (loss)	11,441	(11,142)
Other income (expense):
Interest expense, net	(16,087)	(16,174)
Other income (expense), net	(169)	656
Total other expense	(16,256)	(15,518)
Loss before income taxes	(4,815)	(26,660)
Income tax benefit	(156)	(4,880)
Net loss from continuing operations	(4,659)	(21,780)
Net income from discontinued operations, net of tax	0	14,620
Net loss	(4,659)	(7,160)
Net loss from continuing operations available to common stockholders	(4,659)	(21,780)
Net income from discontinued operations available to common stockholders	$ 0	$ 14,620
Net income (loss) available to common stockholders per share:
Basic loss from continuing operations per share (in dollars per share)	$ (0.03)	$ (0.14)
Basic earnings from discontinued operations per share (in dollars per share)	0	0.09
Basic loss per share (in dollars per share)	(0.03)	(0.05)
Diluted loss from continuing operations per share (in dollars per share)	(0.03)	(0.14)
Diluted earnings loss from discontinued operations per share (in dollars per share)	0	0.09
Diluted loss per share (in dollars per share)	$ (0.03)	$ (0.05)
Weighted-average shares used to compute net income (loss) available to common stockholders per share:
Weighted-average common shares outstanding used in computing basic net earnings (loss) per share (in shares)	159,847	157,123
Weighted-average shares used in computing diluted earnings (loss) per share (in shares)	159,847	157,123
Recurring Revenue
Revenue:
Total revenue	$ 154,242	$ 148,982
Subscription
Revenue:
Total revenue	38,747	28,317
Cost of revenue:
Amortization of acquired technologies	2,744	3,081
Maintenance
Revenue:
Total revenue	115,495	120,665
License
Revenue:
Total revenue	22,626	24,874
Cost of revenue:
Amortization of acquired technologies	$ 14,483	$ 37,336

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (4,659)	$ (7,160)
Other comprehensive income (loss):
Foreign currency translation adjustment	(16,895)	(65,750)
Other comprehensive income (loss)	(16,895)	(65,750)
Comprehensive income (loss)	$ (21,554)	$ (72,910)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at beginning of period (in shares) at Dec. 31, 2020		156,520,000
Balance at beginning of period at Dec. 31, 2020	$ 3,010,687	$ 157	$ 3,112,262	$ 127,212	$ (228,944)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(65,750)			(65,750)
Net loss	(7,160)				(7,160)
Comprehensive income (loss)	(72,910)
Exercise of stock options (in shares)		4,000
Exercise of stock options	11		11
Restricted stock units issued, net of shares withheld for taxes (in shares)		659,000
Restricted stock units issued, net of shares withheld for taxes	(8,397)	$ 1	(8,398)
Issuance of stock (in shares)		411,000
Issuance of stock	463	$ 0	463
Issuance of stock under employee stock purchase plan (in shares)		108,000
Stock Issued During Period, Value, Employee Stock Purchase Plan	3,129		3,129
Stock-based compensation	17,183		17,183
Balance at end of period (in shares) at Mar. 31, 2021		157,702,000
Balance at end of period at Mar. 31, 2021	$ 2,950,166	$ 158	3,124,650	61,462	(236,104)
Balance at beginning of period (in shares) at Dec. 31, 2021	159,176,042	159,176,000
Balance at beginning of period at Dec. 31, 2021	$ 2,287,896	$ 159	2,566,783	1,306	(280,352)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(16,895)			(16,895)
Net loss	(4,659)				(4,659)
Comprehensive income (loss)	(21,554)
Exercise of stock options (in shares)		16,000
Exercise of stock options	12		12
Restricted stock units issued, net of shares withheld for taxes (in shares)		1,063,000
Restricted stock units issued, net of shares withheld for taxes	(6,407)	$ 1	(6,408)
Issuance of stock (in shares)		51,000
Issuance of stock	216	$ 0	216
Issuance of stock under employee stock purchase plan (in shares)		150,000
Stock Issued During Period, Value, Employee Stock Purchase Plan	1,753		1,753
Stock-based compensation	$ 15,462		15,462
Balance at end of period (in shares) at Mar. 31, 2022	160,456,486	160,456,000
Balance at end of period at Mar. 31, 2022	$ 2,277,378	$ 160	$ 2,577,818	$ (15,589)	$ (285,011)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss from continuing operations	$ (4,659)	$ (21,780)
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities:
Depreciation and amortization	33,928	58,355
Provision for losses on accounts receivable	297	413
Stock-based compensation expense	15,269	13,794
Amortization of debt issuance costs	2,258	2,239
Deferred taxes	(6,392)	26
Loss (gain) on foreign currency exchange rates	280	(1,462)
Other non-cash expenses	211	2,266
Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in business combinations:
Accounts receivable	(3,332)	(4,515)
Income taxes receivable	(243)	487
Prepaid and other assets	8,073	(9,580)
Accounts payable	(138)	4,834
Accrued liabilities and other	(8,482)	(14,848)
Accrued interest payable	18	(3)
Income taxes payable	(822)	(14,864)
Deferred revenue	3,876	603
Other long-term liabilities	116	0
Net cash provided by operating activities from continuing operations	40,258	15,965
Cash flows from investing activities
Purchases of property and equipment	(1,180)	(3,389)
Purchases of intangible assets	(3,120)	(926)
Acquisitions, net of cash acquired	(6,500)	447
Net cash used in investing activities from continuing operations	(10,800)	(3,868)
Cash flows from financing activities
Proceeds from issuance of common stock under employee stock purchase plan	1,753	3,129
Repurchase of common stock and incentive restricted stock	(6,419)	(8,588)
Exercise of stock options	12	11
Repayments of borrowings from credit agreement	(4,975)	(4,975)
Net cash used in financing activities from continuing operations	(9,629)	(10,423)
Effect of exchange rate changes on cash and cash equivalents from continuing operations	(727)	(4,390)
Cash flows of discontinued operations
Operating activities of discontinued operations	0	10,966
Investing activities of discontinued operations	0	(3,661)
Financing activities of discontinued operations	0	0
Effect of exchange rate changes on cash and cash equivalents from discontinued operations	0	(735)
Net cash provided by discontinued activities	0	6,570
Net increase in cash and cash equivalents	19,102	3,854
Cash and cash equivalents
Beginning of period	732,116	370,498
End of period	751,218	374,352
Supplemental disclosure of cash flow information
Cash paid for interest	13,907	13,993
Cash paid for income taxes	$ 6,259	$ 14,408

Organization and Nature of Oper

Organization and Nature of Operations	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations SolarWinds Corporation, a Delaware corporation, and its subsidiaries (“Company”, “we,” “us” and “our”) is a leading provider of simple, powerful and secure information technology, or IT, management software. Our solutions give organizations worldwide, regardless of type, size or complexity, the power to accelerate business transformation in today's hybrid IT environments. Our approach, which we refer to as the SolarWinds Model, combines customer-driven products with an "inside-first" selling motion. We’ve built our business to enable the technology professionals who use our products to manage “all things IT.” Our range of customers has expanded over time to include network and systems engineers, database administrators, storage administrators, DevOps, SecOps and service desk professionals. Our SolarWinds Model enables us to sell our products for use in organizations ranging in size from very small businesses to large enterprises. Spin-Off of N-able Business On July 19, 2021, we completed the separation and distribution of our managed service provider (“N-able”) business into a newly created and separately traded public company, N-able, Inc. We refer to this transaction as the “Separation.” After the Separation, we do not beneficially own any shares of common stock in N-able and no longer consolidate N‑able into our financial results for periods ending after July 19, 2021. As a result, N‑able's historical financial results through the Separation are reflected in our consolidated financial statements as discontinued operations. See Note 3. Discontinued Operations

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies We prepared our interim condensed consolidated financial statements in conformity with United States of America generally accepted accounting principles ("GAAP"), and the reporting regulations of the Securities and Exchange Commission (the "SEC"). They do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying condensed consolidated financial statements include the accounts of SolarWinds Corporation and the accounts of its wholly owned subsidiaries. We have eliminated all intercompany balances and transactions. The interim financial information is unaudited, but reflects all normal adjustments that are, in our opinion, necessary to provide a fair statement of results for the interim periods presented. This interim information should be read in conjunction with the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021. Reverse Stock Split Effective July 30, 2021, we effected a 2:1 reverse stock split of our common stock. As a result of the reverse stock split, all share and per share figures contained in the condensed consolidated financial statements have been retroactively restated as if the reverse stock split occurred at the beginning of the periods presented. Use of Estimates The preparation of financial statements in conformity with GAAP requires our management to make estimates and assumptions that affect the reported amounts and the disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. The actual results that we experience may differ materially from our estimates. The accounting estimates that require our most significant, difficult and subjective judgments include: • the valuation of goodwill, intangibles, long-lived assets and contingent consideration; • revenue recognition; • stock-based compensation; • income taxes; and • loss contingencies. Recently Adopted Accounting Pronouncements In October 2021, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2021-08 "Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers", which requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Accounting Standards Codification ("ASC") 606, "Revenue from Contracts with Customers", instead of at fair value on the acquisition date as previously required by ASC 805. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for acquired revenue contracts and revenue contracts not acquired in a business combination. The updated guidance is effective for public companies for fiscal years beginning after December 15, 2022 and early adoption is permitted. We elected to early adopt the updated guidance prospectively as of January 1, 2022. The adoption of the standard did not have a material impact on our condensed consolidated financial statements for the three months ended March 31, 2022. Goodwill Our goodwill was derived from the Take Private transaction and acquisitions where the purchase price exceeded the fair value of the net identifiable assets acquired. Goodwill is tested for impairment at least annually on October 1st or when circumstances indicate an impairment may exist. For the goodwill impairment analysis performed at December 31, 2021, we assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our reporting units, including the significance of the amount of excess fair value over carrying value, consistency of operating margins and cash flows, budgeted-to-actual performance from prior year, overall change in economic climate, changes in the industry and competitive environment, key management turnover, and earnings quality and sustainability. We considered the decline in the market capitalization being less than the carrying value of our reporting unit in our evaluation of goodwill impairment indicators and determined it appropriate to perform a quantitative assessment of our reporting unit as of December 31, 2021. As a result of the impairment analysis, our reporting unit was determined to have a fair value that exceeded its carrying value by approximately 7.2%, and therefore no impairment was recognized. As of March 31, 2022, while we experienced a further decline in our market capitalization, there were no unanticipated changes or negative indicators in the above qualitative factors that would impact the fair value of our reporting unit. In addition, there were no changes to factors used in the determination of our assumptions used in the discounted cash flow models regarding revenue growth rates, discount rate, estimated implications of the Cyber Incident to our cost structure, economic and market trends and other expectations about the anticipated operating results of our reporting unit. After considering all available evidence, we determined there were no indicators of impairment or changes to circumstances that more likely than not reduced the fair value of our reporting unit to less than its carrying value. We will continue to evaluate whether circumstances indicate an impairment may exist throughout the year prior to our annual impairment analysis during the fourth quarter of 2022. Fair value determination of our reporting unit requires considerable judgment and is sensitive to changes in underlying assumptions and factors. As a result, there can be no assurance that the estimates and assumptions made for purposes of the quantitative goodwill impairment tests will prove to be an accurate prediction of future results. Examples of events or circumstances that could reasonably be expected to negatively affect the underlying key assumptions and ultimately impact the estimated fair value of our reporting unit may include such items as: (i) a decrease in future cash flows due to lower than expected license sales or maintenance renewals and higher than estimated costs to respond to the Cyber Incident, (ii) higher than expected customer attrition resulting from customer concerns related to the Cyber Incident, (iii) adverse loss exposure from claims, fines or penalties from the Cyber Incident; and (iv) volatility in the equity and debt markets or other macroeconomic factors which could result in a higher weighted-average cost of capital. Accordingly, if our current cash flow assumptions are not realized or we experience sustained declines in our stock price or market capitalization, it is possible that an impairment charge may be recorded in the future, which could be material. Fair Value Measurements We apply the authoritative guidance on fair value measurements for financial assets and liabilities that are measured at fair value on a recurring basis and non-financial assets and liabilities, such as goodwill, intangible assets and property, plant and equipment that are measured at fair value on a non-recurring basis. The guidance establishes a three-tiered fair value hierarchy that prioritizes inputs to valuation techniques used in fair value calculations. The three levels of inputs are defined as follows: Level 1: Unadjusted quoted prices for identical assets or liabilities in active markets accessible by us. Level 2: Inputs that are observable in the marketplace other than those inputs classified as Level 1. Level 3: Inputs that are unobservable in the marketplace and significant to the valuation. See Note 5. Fair Value Measurements for a summary of our financial instruments accounted for at fair value on a recurring basis. The carrying amounts reported in our consolidated balance sheets for cash, accounts receivable, accounts payable and other accrued expenses approximate fair value due to relatively short periods to maturity. Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) by component are summarized below: Foreign Currency Translation Adjustments Accumulated Other Comprehensive Income (Loss) (in thousands) Balance at December 31, 2021 $ 1,306 $ 1,306 Other comprehensive gain (loss) before reclassification (16,895) (16,895) Amount reclassified from accumulated other comprehensive income (loss) — — Net current period other comprehensive income (loss) (16,895) (16,895) Balance at March 31, 2022 $ (15,589) $ (15,589) Deferred Revenue Details of our total deferred revenue balance are as follow s: Total Deferred Revenue (in thousands) Balance at December 31, 2021 $ 362,669 Deferred revenue recognized (125,297) Additional amounts deferred 126,840 Deferred revenue acquired in business combinations 263 Balance at March 31, 2022 $ 364,475 We expect to recognize revenue related to these remaining performance obligations as of March 31, 2022 as follows: Revenue Recognition Expected by Period Total Less than 1 1-3 years More than (in thousands) Expected recognition of deferred revenue $ 364,475 $ 329,017 $ 34,549 $ 909 Deferred Commissions Details of our deferred commissions balance are as follow s: Deferred Commissions (in thousands) Balance at December 31, 2021 $ 18,897 Commissions capitalized 1,979 Amortization recognized (1,528) Balance at March 31, 2022 $ 19,348 March 31, December 31, 2022 2021 (in thousands) Classified as: Current $ 5,600 $ 5,378 Non-current 13,748 13,519 Total deferred commissions $ 19,348 $ 18,897 Cost of Revenue Amortization of Acquired Technologies. Amortization of acquired technologies included in cost of revenue relate to our licensed products and subscription products as follows: Three Months Ended March 31, 2022 2021 (in thousands) Amortization of acquired license technologies $ 14,483 $ 37,336 Amortization of acquired subscription technologies 2,744 3,081 Total amortization of acquired technologies $ 17,227 $ 40,417 The decrease in amortization of acquired license technologies was primarily due to certain intangible assets acquired in connection with our take private transaction in early 2016 being fully amortized during the three months ended March 31, 2022.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	3. Discontinued Operations As discussed in Note 1. Organization and Nature of Operations , we completed the Separation of the N‑able business into a newly created and separately traded public company, N-able, Inc., on July 19, 2021. The Separation was achieved through the transfer of all the net assets and legal entities associated with the N-able business to N-able, Inc. In accordance with applicable accounting guidance, the results of the N-able business are presented as discontinued operations for the period up to and including the date of the Separation, and, as such, have been excluded from continuing operations for all periods presented. The following table summarizes the results of operations of N-able presented as discontinued operations: Three Months Ended (in thousands) Revenue: Subscription $ 80,671 Maintenance 2,375 Total recurring revenue 83,046 License — Total revenue 83,046 Cost of revenue: Cost of recurring revenue 11,304 Amortization of acquired technologies 2,704 Total cost of revenue 14,008 Gross profit 69,038 Operating expenses: Sales and marketing 25,631 Research and development 11,403 General and administrative 16,845 Amortization of acquired intangibles 6,019 Total operating expenses 59,898 Operating income from discontinued operations 9,140 Other expense: Interest (expense) income, net — Other expense, net (529) Total other expense (529) Income from discontinued operations before income taxes 8,611 Income tax benefit (6,009) Net income from discontinued operations, net of tax $ 14,620

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The following table reflects the changes in goodwill for the three months ended March 31, 2022: (in thousands) Balance at December 31, 2021 $ 3,308,405 Acquisitions 5,422 Foreign currency translation and other adjustments (14,359) Balance at March 31, 2022 $ 3,299,468

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table summarizes the fair value of our financial assets that were measured on a recurring basis as of March 31, 2022 and December 31, 2021. There have been no transfers between fair value measurement levels during the three months ended March 31, 2022. Fair Value Measurements at March 31, 2022 Using Quoted Prices in Significant Significant Total (in thousands) Money market funds $ 475,000 $ — $ — $ 475,000 Total assets $ 475,000 $ — $ — $ 475,000 Fair Value Measurements at December 31, 2021 Using Quoted Prices in Significant Significant Total (in thousands) Money market funds $ 645,000 $ — $ — $ 645,000 Total assets $ 645,000 $ — $ — $ 645,000 As of March 31, 2022 and December 31, 2021, the carrying value of our long-term debt approximates its estimated fair value as the interest rate on the debt agreements is adjusted for changes in the market rates. See Note 6. Debt

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes information relating to our debt: March 31, December 31, 2022 2021 Amount Effective Rate Amount Effective Rate (in thousands, except interest rates) Revolving credit facility $ — — % $ — — % First Lien Term Loan (as amended) due Feb 2024 1,904,375 3.21 % 1,909,350 2.85 % Total principal amount 1,904,375 1,909,350 Unamortized discount and debt issuance costs (16,465) (18,681) Total debt 1,887,910 1,890,669 Less: Current portion of long-term debt (19,900) (19,900) Total long-term debt $ 1,868,010 $ 1,870,769 Senior Secured First Lien Credit Facilities Our first lien credit agreement, as amended, or First Lien Credit Agreement, provides for senior secured first lien credit facilities, consisting of the following as of March 31, 2022: • a $1.99 billion U.S. dollar term loan, or First Lien Term Loan, with a final maturity date of February 5, 2024; and • a $117.5 million revolving credit facility (with a letter of credit sub-facility in the amount of $35.0 million), or the Revolving Credit Facility, consisting of (i) a $100.0 million multicurrency tranche and (ii) a $17.5 million tranche available only in U.S. dollars, with a final maturity date of August 5, 2023. Borrowings under our Revolving Credit Facility bear interest at a floating rate which is, at our option, either (1) a Eurodollar rate for a specified interest period plus an applicable margin of 2.50% or (2) a base rate plus an applicable margin of 1.50%, respectively. The Eurodollar rate applicable to the Revolving Credit Facility is subject to a “floor” of 0.0%. Borrowings under our First Lien Term Loan bear interest at a floating rate which is, at our option, either (1) a Eurodollar rate for a specified interest period plus an applicable margin of 2.75% or (2) a base rate plus an applicable margin of 1.75%, respectively. The Eurodollar rate applicable to the First Lien Term Loan is subject to a “floor” of 0.0%. The Eurodollar rate is equal to an adjusted London Interbank Offered Rate, or LIBOR, for a one-, two-, three- or six-month interest period with a LIBOR floor of 0%. The base rate for any day is a fluctuating rate per annum equal to the highest of (a) the rate of interest in effect for such day as publicly announced by Credit Suisse as its “prime rate” and (b) the federal funds effective rate in effect on such day plus 0.50% and (c) the one-month adjusted LIBOR plus 1.0% per annum. The First Lien Term Loan requires equal quarterly repayments equal to 0.25% of the original principal amount. In addition to paying interest on loans outstanding under the Revolving Credit Facility and the First Lien Term Loan, we are required to pay a commitment fee of 0.50% per annum of unused commitments under the Revolving Credit Facility. The commitment fee is subject to a reduction to 0.375% per annum based on our first lien net leverage ratio. The First Lien Credit Agreement contains a number of covenants that, among other things, restrict, subject to certain exceptions, our ability to: incur additional indebtedness; incur liens; engage in mergers, consolidations, liquidations or dissolutions; pay dividends and distributions on, or redeem, repurchase or retire our capital stock; and make certain investments, acquisitions, loans, or advances. In addition, the terms of the First Lien Credit Agreement include a financial covenant which requires that, at the end of each fiscal quarter, if the aggregate amount of borrowings under the Revolving Credit Facility exceeds 35% of the aggregate commitments under the Revolving Credit Facility, our first lien net leverage ratio cannot exceed 7.40 to 1.00. The First Lien Credit Agreement also contains certain customary representations and warranties, affirmative covenants and events of default. As of March 31, 2022, we were in compliance with all covenants of the First Lien Credit Agreement.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	. Earnings (Loss) Per Share A reconciliation of the number of shares in the calculation of basic and diluted earnings (loss) per share follows: Three Months Ended March 31, 2022 2021 (in thousands) Basic earnings (loss) per share Numerator: Net loss from continuing operations $ (4,659) $ (21,780) Net income from discontinued operations — 14,620 Net loss (4,659) (7,160) Earnings allocated to unvested restricted stock — — Net loss from continuing operations available to common stockholders $ (4,659) $ (21,780) Net income from discontinued operations available to common stockholders $ — $ 14,620 Denominator: Weighted-average common shares outstanding used in computing basic net earnings (loss) per share 159,847 157,123 Diluted net earnings (loss) per share Numerator: Net loss from continuing operations available to common stockholders $ (4,659) $ (21,780) Net income from discontinued operations available to common stockholders $ — $ 14,620 Denominator: Weighted-average shares used in computing basic net earnings (loss) per share 159,847 157,123 Add dilutive impact of employee equity plans — — Weighted-average shares used in computing diluted net earnings (loss) per share 159,847 157,123 The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of the diluted net income (loss) per share attributable to common stockholders for the periods presented because their effect would have been anti-dilutive or for which the performance condition had not been met at the end of the period: Three Months Ended March 31, 2022 2021 (in thousands) Total anti-dilutive shares 9,618 6,626

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended March 31, 2022 and 2021, we recorded income tax benefit from continuing operations of $0.2 million and $4.9 million, respectively, resulting in an effective tax rate of 3.2% and 18.3%, respectively. The decrease in the effective tax rate for the three months ended March 31, 2022 compared to the same period in 2021 was primarily due to the excess tax deficiency from stock-based compensation, partially offset by an increase in permanent differences. Our policy is to include interest and penalties related to unrecognized tax benefits as a component of income tax expense. At March 31, 2022, we had accrued interest and penalties related to unrecognized tax benefits of approximately $2.9 million.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Cyber Incident As previously disclosed, we were the victim of a cyberattack on our Orion Software Platform and internal systems, or the Cyber Incident. We, together with our partners, have undertaken extensive measures to investigate, contain, eradicate, and remediate the Cyber Incident. Expenses Incurred For the three months ended March 31, 2022, we recorded pretax gross expenses related to the Cyber Incident of $5.7 million and included $0.2 million of these gross expenses in cost of recurring revenue, $0.1 million in sales and marketing expense and $5.5 million in general and administrative expense in the condensed consolidated statements of operations. For the three months ended March 31, 2021, we recorded pretax gross expenses related to the Cyber Incident of $20.4 million, partially offset by $10.2 million of expected insurance proceeds for costs we believe were reimbursable and probable of recovery under our insurance coverage, for pretax net expenses of $10.2 million. We have included $0.8 million of these gross expenses in cost of recurring revenue, $0.8 million in sales and marketing expense and $18.8 million in general and administrative expense in the condensed consolidated statements of operations. General and administrative expense is presented net of insurance proceeds in the condensed consolidated statements of operations. Expenses include one-time costs to investigate and remediate the Cyber Incident, and legal and other professional services related thereto, and consulting services being provided to customers at no charge, all of which were expensed as incurred. Litigation, Claims and Government Investigations As a result of the Cyber Incident, we are subject to multiple lawsuits and investigations. A consolidated putative class action lawsuit alleging violations of the federal securities laws is pending against us and certain of our current and former officers. The complainants seek certification of a class of all persons who purchased or otherwise acquired our securities between October 18, 2018 and December 17, 2020 and seek unspecified monetary damages, costs and attorneys’ fees. In August 2021, the Company and all other named defendants in the securities class action filed motions to dismiss the consolidated class action complaint. On March 30, 2022, the District Court for the Western District of Texas entered an order denying the Company's motion to dismiss. Discovery has commenced in the action. In addition, two shareholder derivative actions, purportedly on behalf of the Company, are pending, one in the Western District of Texas and one in the Delaware Court of Chancery, in each case asserting breach of duty and other claims against certain of our current and former officers and directors in connection with the Cyber Incident. In January 2022, the Company and all other named defendants filed motions to dismiss the Delaware derivative complaint which is pending before the court. We dispute the allegations in these complaints and intend to defend against the claims. In addition, there are underway numerous investigations and inquiries by domestic and foreign law enforcement and other governmental authorities related to the Cyber Incident, including from the Department of Justice, the Securities and Exchange Commission, and various state Attorneys General. We are cooperating and providing information in connection with these investigations and inquiries and are incurring, and in future periods expect to incur, costs and other expenses in connection with these investigations and inquiries. While we believe it is reasonably possible that we could incur losses associated with these proceedings and investigations, it is not possible to estimate the amount of any loss or range of possible loss that might result from adverse judgments, settlements, penalties or other resolutions of such proceedings and investigations based on the early stage thereof, the fact that alleged damages have not been specified, the uncertainty as to the certification of a class or classes and the size of any certified class, as applicable, and the lack of resolution on significant factual and legal issues. The Company will continue to evaluate information as it becomes known and will record an estimate for losses at the time or times when it is both probable that a loss has been incurred and the amount of the loss is reasonably estimable. Losses associated with any adverse judgments, settlements, penalties or other resolutions of such proceedings and investigations could be material to our business, results of operations, financial condition or cash flows in future periods. Additional lawsuits and claims related to the Cyber Incident may be asserted by or on behalf of customers, stockholders or others seeking damages or other related relief and additional inquiries from governmental agencies may be received or investigations by governmental agencies commenced. Insurance Coverage We maintain $15 million of cybersecurity insurance coverage to limit our exposure to losses such as those related to the Cyber Incident, which we renewed in June 2021. As of March 31, 2022, we had received insurance proceeds payments of $15 million for costs incurred related to the Cyber Incident. In addition, we maintain $50 million of directors and officers liability insurance coverage to reduce our exposure to our indemnification obligations for certain expenses incurred by our directors and officers, including as a result of the legal proceedings related to the Cyber Incident. Indemnification In connection with the Separation, we entered into a separation and distribution agreement and related agreements with N‑able to govern the Separation and related transactions and the relationship between the respective companies going forward. The separation and distribution agreement provides for certain indemnity and liability obligations, including that we will indemnify N-able for all liabilities based upon, arising out of or related to the Cyber Incident other than certain specified expenses for which N-able will be responsible. The amount of the indemnification liability, if any, cannot be determined and has not been recorded in our condensed consolidated financial statements as of March 31, 2022. Other Matters In addition to the Cyber Incident described above, from time to time we are involved in litigation arising from the normal course of business. In management's opinion, this litigation is not expected to have a material adverse effect on our consolidated financial condition, results of operations or cash flows.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Accounting	We prepared our interim condensed consolidated financial statements in conformity with United States of America generally accepted accounting principles ("GAAP"), and the reporting regulations of the Securities and Exchange Commission (the "SEC"). They do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying condensed consolidated financial statements include the accounts of SolarWinds Corporation and the accounts of its wholly owned subsidiaries. We have eliminated all intercompany balances and transactions.The interim financial information is unaudited, but reflects all normal adjustments that are, in our opinion, necessary to provide a fair statement of results for the interim periods presented. This interim information should be read in conjunction with the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires our management to make estimates and assumptions that affect the reported amounts and the disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. The actual results that we experience may differ materially from our estimates. The accounting estimates that require our most significant, difficult and subjective judgments include: • the valuation of goodwill, intangibles, long-lived assets and contingent consideration; • revenue recognition; • stock-based compensation; • income taxes; and
Recently Adopted Accounting Pronouncements	In October 2021, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2021-08 "Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers", which requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Accounting Standards Codification ("ASC") 606, "Revenue from Contracts with Customers", instead of at fair value on the acquisition date as previously required by ASC 805. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for acquired revenue contracts and revenue contracts not acquired in a business combination. The updated guidance is effective for public companies for fiscal years beginning after December 15, 2022 and early adoption is permitted. We elected to early adopt the updated guidance prospectively as of January 1, 2022. The adoption of the standard did not have a material impact on our condensed consolidated financial statements for the three months ended March 31, 2022.
Goodwill	Our goodwill was derived from the Take Private transaction and acquisitions where the purchase price exceeded the fair value of the net identifiable assets acquired. Goodwill is tested for impairment at least annually on October 1st or when circumstances indicate an impairment may exist. For the goodwill impairment analysis performed at December 31, 2021, we assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our reporting units, including the significance of the amount of excess fair value over carrying value, consistency of operating margins and cash flows, budgeted-to-actual performance from prior year, overall change in economic climate, changes in the industry and competitive environment, key management turnover, and earnings quality and sustainability. We considered the decline in the market capitalization being less than the carrying value of our reporting unit in our evaluation of goodwill impairment indicators and determined it appropriate to perform a quantitative assessment of our reporting unit as of December 31, 2021. As a result of the impairment analysis, our reporting unit was determined to have a fair value that exceeded its carrying value by approximately 7.2%, and therefore no impairment was recognized. As of March 31, 2022, while we experienced a further decline in our market capitalization, there were no unanticipated changes or negative indicators in the above qualitative factors that would impact the fair value of our reporting unit. In addition, there were no changes to factors used in the determination of our assumptions used in the discounted cash flow models regarding revenue growth rates, discount rate, estimated implications of the Cyber Incident to our cost structure, economic and market trends and other expectations about the anticipated operating results of our reporting unit. After considering all available evidence, we determined there were no indicators of impairment or changes to circumstances that more likely than not reduced the fair value of our reporting unit to less than its carrying value. We will continue to evaluate whether circumstances indicate an impairment may exist throughout the year prior to our annual impairment analysis during the fourth quarter of 2022.
Fair Value Measurements	We apply the authoritative guidance on fair value measurements for financial assets and liabilities that are measured at fair value on a recurring basis and non-financial assets and liabilities, such as goodwill, intangible assets and property, plant and equipment that are measured at fair value on a non-recurring basis. The guidance establishes a three-tiered fair value hierarchy that prioritizes inputs to valuation techniques used in fair value calculations. The three levels of inputs are defined as follows: Level 1: Unadjusted quoted prices for identical assets or liabilities in active markets accessible by us. Level 2: Inputs that are observable in the marketplace other than those inputs classified as Level 1. Level 3: Inputs that are unobservable in the marketplace and significant to the valuation. See Note 5. Fair Value Measurements for a summary of our financial instruments accounted for at fair value on a recurring basis. The carrying amounts reported in our consolidated balance sheets for cash, accounts receivable, accounts payable and other accrued expenses approximate fair value due to relatively short periods to maturity.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Changes in accumulated other comprehensive income (loss) by component	Changes in accumulated other comprehensive income (loss) by component are summarized below: Foreign Currency Translation Adjustments Accumulated Other Comprehensive Income (Loss) (in thousands) Balance at December 31, 2021 $ 1,306 $ 1,306 Other comprehensive gain (loss) before reclassification (16,895) (16,895) Amount reclassified from accumulated other comprehensive income (loss) — — Net current period other comprehensive income (loss) (16,895) (16,895) Balance at March 31, 2022 $ (15,589) $ (15,589)
Details of total deferred revenue balance	Details of our total deferred revenue balance are as follow s: Total Deferred Revenue (in thousands) Balance at December 31, 2021 $ 362,669 Deferred revenue recognized (125,297) Additional amounts deferred 126,840 Deferred revenue acquired in business combinations 263 Balance at March 31, 2022 $ 364,475
Remaining performance obligations for revenue recognition	We expect to recognize revenue related to these remaining performance obligations as of March 31, 2022 as follows: Revenue Recognition Expected by Period Total Less than 1 1-3 years More than (in thousands) Expected recognition of deferred revenue $ 364,475 $ 329,017 $ 34,549 $ 909
Details of contract acquisition cost	Details of our deferred commissions balance are as follow s: Deferred Commissions (in thousands) Balance at December 31, 2021 $ 18,897 Commissions capitalized 1,979 Amortization recognized (1,528) Balance at March 31, 2022 $ 19,348 March 31, December 31, 2022 2021 (in thousands) Classified as: Current $ 5,600 $ 5,378 Non-current 13,748 13,519 Total deferred commissions $ 19,348 $ 18,897
Amortization of acquired technologies	Amortization of Acquired Technologies. Amortization of acquired technologies included in cost of revenue relate to our licensed products and subscription products as follows: Three Months Ended March 31, 2022 2021 (in thousands) Amortization of acquired license technologies $ 14,483 $ 37,336 Amortization of acquired subscription technologies 2,744 3,081 Total amortization of acquired technologies $ 17,227 $ 40,417

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule Of Discontinued Operations	The following table summarizes the results of operations of N-able presented as discontinued operations: Three Months Ended (in thousands) Revenue: Subscription $ 80,671 Maintenance 2,375 Total recurring revenue 83,046 License — Total revenue 83,046 Cost of revenue: Cost of recurring revenue 11,304 Amortization of acquired technologies 2,704 Total cost of revenue 14,008 Gross profit 69,038 Operating expenses: Sales and marketing 25,631 Research and development 11,403 General and administrative 16,845 Amortization of acquired intangibles 6,019 Total operating expenses 59,898 Operating income from discontinued operations 9,140 Other expense: Interest (expense) income, net — Other expense, net (529) Total other expense (529) Income from discontinued operations before income taxes 8,611 Income tax benefit (6,009) Net income from discontinued operations, net of tax $ 14,620

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The following table reflects the changes in goodwill for the three months ended March 31, 2022: (in thousands) Balance at December 31, 2021 $ 3,308,405 Acquisitions 5,422 Foreign currency translation and other adjustments (14,359) Balance at March 31, 2022 $ 3,299,468

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair value of financial assets measured on a recurring basis	The following table summarizes the fair value of our financial assets that were measured on a recurring basis as of March 31, 2022 and December 31, 2021. There have been no transfers between fair value measurement levels during the three months ended March 31, 2022. Fair Value Measurements at March 31, 2022 Using Quoted Prices in Significant Significant Total (in thousands) Money market funds $ 475,000 $ — $ — $ 475,000 Total assets $ 475,000 $ — $ — $ 475,000 Fair Value Measurements at December 31, 2021 Using Quoted Prices in Significant Significant Total (in thousands) Money market funds $ 645,000 $ — $ — $ 645,000 Total assets $ 645,000 $ — $ — $ 645,000

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Summary of debt	The following table summarizes information relating to our debt: March 31, December 31, 2022 2021 Amount Effective Rate Amount Effective Rate (in thousands, except interest rates) Revolving credit facility $ — — % $ — — % First Lien Term Loan (as amended) due Feb 2024 1,904,375 3.21 % 1,909,350 2.85 % Total principal amount 1,904,375 1,909,350 Unamortized discount and debt issuance costs (16,465) (18,681) Total debt 1,887,910 1,890,669 Less: Current portion of long-term debt (19,900) (19,900) Total long-term debt $ 1,868,010 $ 1,870,769

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Reconciliation of shares in basic and diluted earnings per share calculation	A reconciliation of the number of shares in the calculation of basic and diluted earnings (loss) per share follows: Three Months Ended March 31, 2022 2021 (in thousands) Basic earnings (loss) per share Numerator: Net loss from continuing operations $ (4,659) $ (21,780) Net income from discontinued operations — 14,620 Net loss (4,659) (7,160) Earnings allocated to unvested restricted stock — — Net loss from continuing operations available to common stockholders $ (4,659) $ (21,780) Net income from discontinued operations available to common stockholders $ — $ 14,620 Denominator: Weighted-average common shares outstanding used in computing basic net earnings (loss) per share 159,847 157,123 Diluted net earnings (loss) per share Numerator: Net loss from continuing operations available to common stockholders $ (4,659) $ (21,780) Net income from discontinued operations available to common stockholders $ — $ 14,620 Denominator: Weighted-average shares used in computing basic net earnings (loss) per share 159,847 157,123 Add dilutive impact of employee equity plans — — Weighted-average shares used in computing diluted net earnings (loss) per share 159,847 157,123
Weighted average shares excluded from earnings per share computation	The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of the diluted net income (loss) per share attributable to common stockholders for the periods presented because their effect would have been anti-dilutive or for which the performance condition had not been met at the end of the period: Three Months Ended March 31, 2022 2021 (in thousands) Total anti-dilutive shares 9,618 6,626

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	Dec. 31, 2021USD ($)	Jul. 30, 2021
Change in Accounting Estimate [Line Items]
Stock split, conversion ratio		2
Goodwill impairment loss	$ 0
Valuation Technique, Discounted Cash Flow
Change in Accounting Estimate [Line Items]
Percentage of fair value in excess of carrying amount (as a percent)	7.20%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 2,287,896	$ 3,010,687
Other comprehensive gain (loss) before reclassification	(16,895)
Amount reclassified from accumulated other comprehensive income (loss)	0
Other comprehensive income (loss)	(16,895)	(65,750)
Balance at end of period	2,277,378	2,950,166
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	1,306
Other comprehensive gain (loss) before reclassification	(16,895)
Amount reclassified from accumulated other comprehensive income (loss)	0
Other comprehensive income (loss)	(16,895)
Balance at end of period	(15,589)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	1,306	127,212
Balance at end of period	$ (15,589)	$ 61,462

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Changes in Deferred Revenue (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Movement in Deferred Revenue [Roll Forward]
Balance at December 31, 2021	$ 362,669
Deferred revenue recognized	(125,297)
Additional amounts deferred	126,840
Deferred revenue acquired in business combinations	263
Balance at March 31, 2022	$ 364,475

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Expected Recognition of Deferred Revenue (Details) $ in Thousands	Mar. 31, 2022USD ($)
Accounting Policies [Abstract]
Expected recognition of deferred revenue	$ 364,475
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Accounting Policies [Abstract]
Expected recognition of deferred revenue	$ 329,017
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue Recognition Expected by Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Accounting Policies [Abstract]
Expected recognition of deferred revenue	$ 34,549
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue Recognition Expected by Period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Accounting Policies [Abstract]
Expected recognition of deferred revenue	$ 909
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue Recognition Expected by Period

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Change in Contract Acquisition Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Deferred Commissions, Roll Forward [Roll Forward]
Balance at December 31, 2021	$ 18,897
Commissions capitalized	1,979
Amortization recognized	(1,528)
Balance at March 31, 2022	19,348
Current	5,600	$ 5,378
Non-current	13,748	13,519
Total deferred commissions	$ 19,348	$ 18,897

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Cost of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Product Information [Line Items]
Total amortization of acquired technologies	$ 17,227	$ 40,417
License
Product Information [Line Items]
Total amortization of acquired technologies	14,483	37,336
Subscription
Product Information [Line Items]
Total amortization of acquired technologies	$ 2,744	$ 3,081

Discontinued Operations - Summa

Discontinued Operations - Summarizes the Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Other expense:
Net income from discontinued operations, net of tax	$ 0	$ 14,620
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | N-able
Revenue:
Total revenue		83,046
Cost of revenue:
Cost of recurring revenue		11,304
Amortization of acquired technologies		2,704
Total cost of revenue		14,008
Gross profit		69,038
Operating expenses:
Sales and marketing		25,631
Research and development		11,403
General and administrative		16,845
Amortization of acquired intangibles		6,019
Total operating expenses		59,898
Operating income from discontinued operations		9,140
Other expense:
Interest (expense) income, net		0
Other expense, net		(529)
Total other expense		(529)
Income from discontinued operations before income taxes		8,611
Income tax benefit		(6,009)
Net income from discontinued operations, net of tax		14,620
Recurring Revenue | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | N-able
Revenue:
Total revenue		83,046
Subscription | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | N-able
Revenue:
Total revenue		80,671
Maintenance | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | N-able
Revenue:
Total revenue		2,375
License | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | N-able
Revenue:
Total revenue		$ 0

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
N-able | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Subsidiary, Sale of Stock [Line Items]
Spin-off costs	$ 0.2	$ 9.9

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 3,308,405
Acquisitions	5,422
Foreign currency translation and other adjustments	(14,359)
Balance at end of period	$ 3,299,468

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Assets Measured on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 475,000	$ 645,000
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	475,000	645,000
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	475,000	645,000
Money market funds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	475,000	645,000
Money market funds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	0	0
Money market funds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	$ 0	$ 0

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Amount
Total principal amount	$ 1,904,375	$ 1,909,350
Unamortized discount and debt issuance costs	(16,465)	(18,681)
Total debt	1,887,910	1,890,669
Less: Current portion of long-term debt	(19,900)	(19,900)
Total long-term debt	1,868,010	1,870,769
Line of Credit | Revolving credit facility
Amount
Total principal amount	$ 0	$ 0
Effective Rate	0.00%	0.00%
Secured Debt | First Lien Term Loan (as amended) due Feb 2024
Amount
Total principal amount	$ 1,904,375	$ 1,909,350
Effective Rate	3.21%	2.85%

Debt - Narrative (Details)

Debt - Narrative (Details) - Credit Suisse	3 Months Ended
	Mar. 31, 2022USD ($)
Eurodollar
Debt Instrument [Line Items]
LIBOR floor	0.00%
Federal Funds Effective Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Secured Debt | First Lien Term Loan
Debt Instrument [Line Items]
Face amount of debt	$ 1,990,000,000
Quarterly periodic payment, as a percentage of original principal	0.25%
Covenant, leverage ratio, maximum	7.40
Secured Debt | First Lien Term Loan | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%
Covenant, floor interest rate	0.00%
Secured Debt | First Lien Term Loan | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Line of Credit | Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 117,500,000
Commitment fee percentage	0.50%
Covenant, commitment fee percentage, net leverage ratio, reduction per annum	0.375%
Covenant, borrowing percentage of commitments, maximum	35.00%
Line of Credit | Revolving credit facility | Eurodollar
Debt Instrument [Line Items]
Covenant, floor interest rate	0.00%
Line of Credit | Revolving credit facility | Eurodollar | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Line of Credit | Revolving credit facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 35,000,000
Line of Credit | Multi-Currency Tranche | Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity	100,000,000
Line of Credit | Single Currency Tranche | Revolving credit facility | US Dollars
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 17,500,000

Earnings (Loss) Per Share - Rec

Earnings (Loss) Per Share - Reconciliation of Shares in the Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net loss from continuing operations	$ (4,659)	$ (21,780)
Net income from discontinued operations	0	14,620
Net loss	(4,659)	(7,160)
Earnings allocated to unvested restricted stock	0	0
Net loss from continuing operations available to common stockholders	(4,659)	(21,780)
Net income from discontinued operations available to common stockholders	$ 0	$ 14,620
Denominator:
Weighted-average common shares outstanding used in computing basic net earnings (loss) per share (in shares)	159,847	157,123
Add dilutive impact of employee equity plans (in shares)	0	0
Weighted-average shares used in computing diluted net earnings (loss) per share (in shares)	159,847	157,123

Earnings (Loss) Per Share - Wei

Earnings (Loss) Per Share - Weighted Average Outstanding Shares of Common Stock Equivalents Excluded (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Total anti-dilutive shares (in shares)	9,618	6,626

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax benefit	$ 156	$ 4,880
Effective income tax rate	3.20%	18.30%
Unrecognized tax benefits, income tax penalties and interest accrued	$ 2,900

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Loss Contingencies [Line Items]
Loss contingency expense net of insurance proceeds	$ 15
Loss contingency, receivable, proceeds	15
Director and Officer liability insurance	50
Cyber Incident
Loss Contingencies [Line Items]
Loss contingency, pretax expenses	5.7	$ 20.4
Loss contingency, receivable, additions		10.2
Loss contingency expense net of insurance proceeds		10.2
Cyber Incident | Cost of Sales
Loss Contingencies [Line Items]
Loss contingency, pretax expenses	0.2	0.8
Cyber Incident | Selling and Marketing Expense
Loss Contingencies [Line Items]
Loss contingency, pretax expenses	0.1	0.8
Cyber Incident | General and Administrative Expense
Loss Contingencies [Line Items]
Loss contingency, pretax expenses	$ 5.5	$ 18.8