SolarWinds (SWI) 10-Q 5 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 02, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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 (in shares)		160,914,540
Entity Central Index Key	0001739942
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 722,440	$ 732,116
Short-term investments	55,768	0
Accounts receivable, net of allowances of $726 and $476 as of June 30, 2022 and December 31, 2021, respectively	83,528	95,095
Income tax receivable	1,170	1,114
Prepaid and other current assets	23,068	30,515
Total current assets	885,974	858,840
Property and equipment, net	27,659	29,722
Operating lease assets	67,397	74,318
Deferred taxes	132,866	144,162
Goodwill	2,642,388	3,308,405
Intangible assets, net	281,908	342,563
Other assets, net	40,369	34,117
Total assets	4,078,561	4,792,127
Current liabilities:
Accounts payable	7,515	7,327
Accrued liabilities and other	37,386	41,328
Current operating lease liabilities	14,904	14,382
Accrued interest payable	234	153
Income taxes payable	16,944	3,086
Current portion of deferred revenue	315,108	327,701
Current debt obligation	19,900	19,900
Total current liabilities	411,991	413,877
Long-term liabilities:
Deferred revenue, net of current portion	34,887	34,968
Non-current deferred taxes	7,968	16,918
Non-current operating lease liabilities	66,143	74,543
Other long-term liabilities	74,495	93,156
Long-term debt, net of current portion	1,865,270	1,870,769
Total liabilities	2,460,754	2,504,231
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value: 1,000,000,000 shares authorized and 160,870,907 and 159,176,042 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	161	159
Preferred stock, $0.001 par value: 50,000,000 shares authorized and no shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	0	0
Additional paid-in capital	2,594,192	2,566,783
Accumulated other comprehensive income (loss)	(69,411)	1,306
Accumulated deficit	(907,135)	(280,352)
Total stockholders’ equity	1,617,807	2,287,896
Total liabilities and stockholders’ equity	$ 4,078,561	$ 4,792,127

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Allowance for credit loss, accounts receivable	$ 726	$ 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)	160,870,907	159,176,042
Common stock, outstanding (in shares)	160,870,907	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	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue:
Total revenue	$ 176,034,000	$ 176,788,000	$ 352,902,000	$ 350,644,000
Cost of revenue:
Cost of recurring revenue	15,460,000	15,728,000	33,291,000	31,382,000
Amortization of acquired technologies	3,648,000	40,098,000	20,875,000	80,515,000
Total cost of revenue	19,108,000	55,826,000	54,166,000	111,897,000
Gross profit	156,926,000	120,962,000	298,736,000	238,747,000
Operating expenses:
Sales and marketing	64,615,000	58,076,000	125,659,000	115,742,000
Research and development	22,108,000	25,831,000	45,530,000	52,189,000
General and administrative	41,283,000	30,719,000	73,947,000	61,584,000
Amortization of acquired intangibles	13,103,000	13,882,000	26,342,000	27,920,000
Goodwill impairment	612,395,000	0	612,395,000	0
Total operating expenses	753,504,000	128,508,000	883,873,000	257,435,000
Operating loss	(596,578,000)	(7,546,000)	(585,137,000)	(18,688,000)
Other income (expense):
Interest expense, net	(18,401,000)	(16,191,000)	(34,488,000)	(32,365,000)
Other income (expense), net	726,000	(269,000)	557,000	387,000
Total other expense	(17,675,000)	(16,460,000)	(33,931,000)	(31,978,000)
Loss before income taxes	(614,253,000)	(24,006,000)	(619,068,000)	(50,666,000)
Income tax expense (benefit)	7,871,000	(2,121,000)	7,715,000	(7,001,000)
Net loss from continuing operations	(622,124,000)	(21,885,000)	(626,783,000)	(43,665,000)
Net income from discontinued operations, net of tax	0	10,261,000	0	24,881,000
Net loss	(622,124,000)	(11,624,000)	(626,783,000)	(18,784,000)
Net loss from continuing operations available to common stockholders	(622,124,000)	(21,885,000)	(626,783,000)	(43,665,000)
Net income from discontinued operations available to common stockholders	$ 0	$ 10,261,000	$ 0	$ 24,881,000
Net income (loss) available to common stockholders per share:
Basic loss from continuing operations per share (in dollars per share)	$ (3.87)	$ (0.14)	$ (3.91)	$ (0.28)
Basic earnings from discontinued operations per share (in dollars per share)	0	0.07	0	0.16
Basic loss per share (in dollars per share)	(3.87)	(0.07)	(3.91)	(0.12)
Diluted loss from continuing operations per share (in dollars per share)	(3.87)	(0.14)	(3.91)	(0.28)
Diluted earnings loss from discontinued operations per share (in dollars per share)	0	0.07	0	0.16
Diluted loss per share (in dollars per share)	$ (3.87)	$ (0.07)	$ (3.91)	$ (0.12)
Weighted-average shares used to compute net income (loss) available to common stockholders per share:
Weighted-average common shares outstanding used in computing basic earnings (loss) per share (in shares)	160,663	157,854	160,257	157,491
Weighted-average shares used in computation of diluted earnings (loss) per share (in shares)	160,663	157,854	160,257	157,491
Recurring Revenue
Revenue:
Total revenue	$ 150,952,000	$ 150,110,000	$ 305,194,000	$ 299,092,000
Subscription
Revenue:
Total revenue	36,980,000	29,608,000	75,727,000	57,925,000
Cost of revenue:
Amortization of acquired technologies	2,727,000	2,770,000	5,471,000	5,851,000
Maintenance
Revenue:
Total revenue	113,972,000	120,502,000	229,467,000	241,167,000
License
Revenue:
Total revenue	25,082,000	26,678,000	47,708,000	51,552,000
Cost of revenue:
Amortization of acquired technologies	$ 921,000	$ 37,328,000	$ 15,404,000	$ 74,664,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (622,124)	$ (11,624)	$ (626,783)	$ (18,784)
Other comprehensive income (loss):
Foreign currency translation adjustment	(53,670)	17,645	(70,565)	(48,105)
Unrealized losses on investments, net of income tax expense (benefit) of $(34) and $(34) for the three and six months ended June 30, 2022, respectively	(152)	0	(152)	0
Other comprehensive income (loss)	(53,822)	17,645	(70,717)	(48,105)
Comprehensive income (loss)	$ (675,946)	$ 6,021	$ (697,500)	$ (66,889)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on investments, net of taxes	$ (34)	$ (34)

Condensed Consolidated Statem_4

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	(48,105)			(48,105)
Unrealized gain (loss) on investments, net of taxes	0
Net loss	(18,784)				(18,784)
Comprehensive income (loss)	(66,889)
Exercise of stock options (in shares)		92,000
Exercise of stock options	401		401
Restricted stock units issued, net of shares withheld for taxes (in shares)		848,000
Restricted stock units issued, net of shares withheld for taxes	(9,868)	$ 1	(9,869)
Issuance of stock (in shares)		447,000
Issuance of stock	492		492
Issuance of stock under employee stock purchase plan (in shares)		108,000
Issuance of stock under employee stock purchase plan	3,129		3,129
Stock-based compensation	33,761		33,761
Balance at end of period (in shares) at Jun. 30, 2021		158,015,000
Balance at end of period at Jun. 30, 2021	2,971,713	$ 158	3,140,176	79,107	(247,728)
Balance at beginning of period (in shares) at Mar. 31, 2021		157,702,000
Balance at beginning of period at Mar. 31, 2021	2,950,166	$ 158	3,124,650	61,462	(236,104)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	17,645			17,645
Unrealized gain (loss) on investments, net of taxes	0
Net loss	(11,624)				(11,624)
Comprehensive income (loss)	6,021
Exercise of stock options (in shares)		88,000
Exercise of stock options	390		390
Restricted stock units issued, net of shares withheld for taxes (in shares)		189,000
Restricted stock units issued, net of shares withheld for taxes	(1,471)	$ 0	(1,471)
Issuance of stock (in shares)		36,000
Issuance of stock	29		29
Stock-based compensation	16,578		16,578
Balance at end of period (in shares) at Jun. 30, 2021		158,015,000
Balance at end of period at Jun. 30, 2021	$ 2,971,713	$ 158	3,140,176	79,107	(247,728)
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	(70,565)			(70,565)
Unrealized gain (loss) on investments, net of taxes	(152)			(152)
Net loss	(626,783)				(626,783)
Comprehensive income (loss)	(697,500)
Exercise of stock options (in shares)		34,000
Exercise of stock options	37		37
Restricted stock units issued, net of shares withheld for taxes (in shares)		1,454,000
Restricted stock units issued, net of shares withheld for taxes	(7,882)	$ 2	(7,884)
Issuance of stock (in shares)		57,000
Issuance of stock	227	$ 0	227
Issuance of stock under employee stock purchase plan (in shares)		150,000
Issuance of stock under employee stock purchase plan	1,753		1,753
Stock-based compensation	$ 33,276		33,276
Balance at end of period (in shares) at Jun. 30, 2022	160,870,907	160,871,000
Balance at end of period at Jun. 30, 2022	$ 1,617,807	$ 161	2,594,192	(69,411)	(907,135)
Balance at beginning of period (in shares) at Mar. 31, 2022		160,456,000
Balance at beginning of period at Mar. 31, 2022	2,277,378	$ 160	2,577,818	(15,589)	(285,011)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(53,670)			(53,670)
Unrealized gain (loss) on investments, net of taxes	(152)			(152)
Net loss	(622,124)				(622,124)
Comprehensive income (loss)	(675,946)
Exercise of stock options (in shares)		18,000
Exercise of stock options	25		25
Restricted stock units issued, net of shares withheld for taxes (in shares)		391,000
Restricted stock units issued, net of shares withheld for taxes	(1,475)	$ 1	(1,476)
Issuance of stock (in shares)		6,000
Issuance of stock	11		11
Stock-based compensation	$ 17,814		17,814
Balance at end of period (in shares) at Jun. 30, 2022	160,870,907	160,871,000
Balance at end of period at Jun. 30, 2022	$ 1,617,807	$ 161	$ 2,594,192	$ (69,411)	$ (907,135)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss from continuing operations	$ (626,783)	$ (43,665)
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities:
Depreciation and amortization	54,059	116,008
Goodwill and indefinite-lived intangible asset impairment	621,760	0
Provision for losses on accounts receivable	366	395
Stock-based compensation expense	32,684	27,520
Amortization of debt issuance costs	4,536	4,498
Deferred taxes	(9,027)	(8,803)
Gain on foreign currency exchange rates	(440)	(1,139)
Other non-cash expenses	142	1,033
Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in business combinations:
Accounts receivable	8,912	16,782
Income taxes receivable	(110)	(2,280)
Prepaid and other assets	6,566	(3,278)
Accounts payable	252	(2,105)
Accrued liabilities and other	(3,976)	(9,569)
Accrued interest payable	81	(4)
Income taxes payable	(4,700)	(28,294)
Deferred revenue	(2,998)	(18,610)
Other long-term liabilities	116	(276)
Net cash provided by operating activities from continuing operations	81,440	48,213
Cash flows from investing activities
Purchases of investments	(55,885)	0
Purchases of property and equipment	(3,533)	(5,367)
Purchases of intangible assets	(7,508)	(1,571)
Acquisitions, net of cash acquired	(6,500)	447
Net cash used in investing activities from continuing operations	(73,426)	(6,491)
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	(7,921)	(10,059)
Exercise of stock options	37	401
Repayments of borrowings from credit agreement	(9,950)	(9,950)
Net cash used in financing activities from continuing operations	(16,081)	(16,479)
Effect of exchange rate changes on cash and cash equivalents from continuing operations	(1,609)	(3,453)
Cash flows of discontinued operations
Operating activities of discontinued operations	0	34,825
Investing activities of discontinued operations	0	(15,009)
Financing activities of discontinued operations	0	(903)
Effect of exchange rate changes on cash and cash equivalents from discontinued operations	0	(566)
Net cash provided by discontinued activities	0	18,347
Net increase (decrease) in cash and cash equivalents	(9,676)	40,137
Cash and cash equivalents
Beginning of period	732,116	370,498
End of period	722,440	410,635
Supplemental disclosure of cash flow information
Cash paid for interest	30,933	27,995
Cash paid for income taxes	$ 19,422	$ 35,715

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	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 or six months ended June 30, 2022. Impairment of Goodwill, Intangible Assets and Long-lived Assets Goodwill Our goodwill was derived from the take private transaction in early 2016 ("Take Private") 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 more frequently if events or circumstances indicate it is more likely than not that the fair value of our reporting unit is less than its carrying value. Subsequent to our annual 2021 goodwill impairment analysis on October 1, 2021, we experienced a decline in our stock price resulting in the total market value of our shares of stock outstanding (our "market capitalization"), being less than the carrying value of our reporting unit. Therefore, as of December 31, 2021, we assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our one reporting unit, 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, 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 goodwill impairment qualitative factors or significant changes to assumptions used in the discounted cash flow models that would impact the fair value 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 as of March 31, 2022. As of June 30, 2022, we experienced a further decline in our market capitalization and considered the impact of current macroeconomic conditions on our projected operating results and assumptions used in the income approach - discounted cash flow method and market approach models that impact the fair value of our reporting unit. The macroeconomic conditions considered include deterioration in the equity markets evidenced by sustained declines in our stock price, those of our peers, and major market indices since December 31, 2021, which reduced the market multiples, along with an increase in the weighted-average cost of capital primarily driven by an increase in interest rates. In addition, as of June 30, 2022, we lowered our projected operating results primarily due to the recent impact of foreign currency exchange rate fluctuations on our projected sales and market concerns related to inflation, supply chain disruption issues and other macroeconomic factors. After considering all available evidence in our evaluation of goodwill impairment indicators, we determined it appropriate to perform an interim quantitative assessment of our reporting unit as of June 30, 2022. We engaged a third-party valuation specialist to assist in the performance of the impairment analysis of our reporting unit. For the interim quantitative goodwill impairment analysis performed as of June 30, 2022, we utilized a combination of both an income and market approach to determine the fair value of our reporting unit. The income approach utilizes a discounted cash flow method which is based on the present value of projected cash flows. The discounted cash flow models reflect our assumptions regarding revenue growth rates, risk-adjusted discount rate, terminal period growth rate, economic and market trends and other expectations about the anticipated operating results of our reporting unit. Under the market approach, we estimate the fair value based on market multiples of revenues derived from comparable publicly traded companies with operating characteristics similar to the reporting unit. As a result of the interim goodwill impairment analysis, our reporting unit was determined to have a carrying value that exceeded its fair value and therefore, a $612.4 million non-cash goodwill impairment charge was recognized in our condensed consolidated statements of operations for the three months ended June 30, 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) volatility in the equity and debt markets or other macroeconomic factors, (ii) an increase in the weighted-average cost of capital due to further increases in interest rates, (iii) timing and success of new products introduced in our evolution from monitoring to observability, (iv) the ongoing impact of the Cyber Incident including a decrease in future cash flows due to lower than expected license sales or maintenance renewals, higher than expected customer attrition, higher than estimated costs to respond and adverse loss exposure from claims, fines or penalties resulting from government investigations and litigation; and (v) fluctuations in foreign currency exchange rates that may negatively impact our reported results of operations. Accordingly, if our current cash flow assumptions are not realized, we experience further sustained declines in our stock price or market capitalization, or there are further declines in the market multiplies used in our analysis, it is possible that an additional impairment charge may be recorded in the future, which could be material. Indefinite-lived Intangible Assets We review our indefinite-lived intangible assets for impairment annually, in the fourth quarter, or more frequently if a triggering event occurs. We first assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative test. If necessary, the quantitative test is performed by comparing the fair value of indefinite lived intangible assets to the carrying value. In the event the carrying value exceeds the fair value of the assets, the assets are written down to their fair value. As of June 30, 2022, due to the factors discussed in the goodwill analysis above, we performed a quantitative assessment of our indefinite-lived intangible assets utilizing a relief from royalty method and determined the estimated fair value of the SolarWinds trade name, recorded in connection with the Take Private, was less than its carrying value. As a result, we recorded a $9.4 million non-cash impairment charge which is included in general and administrative expense in our condensed consolidated statements of operations for the three months ended June 30, 2022. Long-lived Assets We evaluate the recoverability of our long-lived assets, including finite-lived intangible assets and other assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. As of June 30, 2022, prior to performing the goodwill impairment analysis, we performed a recoverability test of our long-lived assets, including finite-lived intangible assets, by comparing the net book value of our long-lived assets or asset groups, to the future undiscounted net cash flows attributable to such assets. We determined no impairment was required. Investments Our investments, classified as available-for-sale securities, consist of marketable securities such as U.S. Treasury securities, corporate bonds, commercial paper and asset-backed securities. We determine the appropriate classification of our investments at the time of purchase and reevaluate such determination at each balance sheet date. We may classify our available-for-sale securities as either short-term or long-term investments. We classify an investment as short-term if we have both the intent and ability to convert the security into cash to fund current operations. Available-for-sale securities are carried at fair value, with the unrealized gains and losses, net of tax, reported in accumulated other comprehensive income (loss), which is a component of shareholders' equity except for any unrealized losses determined to be related to credit losses, which we record within other income (expense), net in our condensed consolidated statements of operations. Any premiums or discounts are amortized or accreted, respectively, to maturity as a component of interest expense, net in our condensed consolidated statements of operations. Cash flows from the amount of purchases, sales and maturities of available-for-sale securities are classified as cash flows from investing activities. Amortization and accretion of purchased premiums and discounts on securities are included as a non-cash adjustment to net income (loss) within cash flows from operating activities in our condensed consolidated statements of cash flows. The cost of securities sold is based on the specific-identification method. In determining if and when a decline in fair value is judged to be other-than-temporary, we evaluate, among other factors: the duration and extent to which the fair value has been less than the carrying value and the intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair market value. Declines in fair value deemed other-than-temporary are included as a component of other income (expense), net in our condensed consolidated statements of operations. We have not recorded any other-than-temporary impairments related to marketable securities. See Note 4. Investments for a summary of our investments. 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. We determine the fair value of our available-for-sale securities based on inputs obtained from multiple pricing vendors, who may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value. However, we classify all of our available-for-sale securities as being valued using Level 2 inputs. The valuation techniques used to determine the fair value of our financial instruments having Level 2 inputs are derived from unadjusted, non-binding market consensus prices that are corroborated by observable market data, quoted market prices for similar instruments, or pricing models. Our procedures include controls to ensure that appropriate fair values are recorded by a review of the valuation methods and assumptions. See Note 6. 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 Unrealized Gain (Loss) on Investments, Net of Tax Accumulated Other Comprehensive Income (Loss) (in thousands) Balance at December 31, 2021 $ 1,306 $ — $ 1,306 Other comprehensive gain (loss) before reclassification (70,565) (152) (70,717) Amount reclassified from accumulated other comprehensive income (loss) — — — Net current period other comprehensive income (loss) (70,565) (152) (70,717) Balance at June 30, 2022 $ (69,259) $ (152) $ (69,411) 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 (250,679) Additional amounts deferred 237,742 Deferred revenue acquired in business combinations 263 Balance at June 30, 2022 $ 349,995 We expect to recognize revenue related to these remaining performance obligations as of June 30, 2022 as follows: Revenue Recognition Expected by Period Total Less than 1-3 years More than (in thousands) Expected recognition of deferred revenue $ 349,995 $ 315,108 $ 34,023 $ 864 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 3,911 Amortization recognized (3,113) Balance at June 30, 2022 $ 19,695 June 30, December 31, 2022 2021 (in thousands) Classified as: Current $ 5,822 $ 5,378 Non-current 13,873 13,519 Total deferred commissions $ 19,695 $ 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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Amortization of acquired license technologies $ 921 $ 37,328 $ 15,404 $ 74,664 Amortization of acquired subscription technologies 2,727 2,770 5,471 5,851 Total amortization of acquired technologies $ 3,648 $ 40,098 $ 20,875 $ 80,515 The decreases in amortization of acquired license technologies for the three and six months ended June 30, 2022 in comparison to the same periods in 2021 were primarily due to certain intangible assets acquired in connection with the Take Private being fully amortized during the periods ended June 30, 2022.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	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 Six Months Ended June 30, 2021 (in thousands) Revenue: Subscription $ 82,821 $ 163,492 Maintenance 2,365 4,740 Total recurring revenue 85,186 168,232 License — — Total revenue 85,186 168,232 Cost of revenue: Cost of recurring revenue 11,788 23,092 Amortization of acquired technologies 1,037 3,741 Total cost of revenue 12,825 26,833 Gross profit 72,361 141,399 Operating expenses: Sales and marketing 24,295 49,926 Research and development 13,275 24,678 General and administrative 19,678 36,523 Amortization of acquired intangibles 4,276 10,295 Total operating expenses 61,524 121,422 Operating income from discontinued operations 10,837 19,977 Other expense: Interest (expense) income, net — — Other expense, net (52) (581) Total other expense (52) (581) Income from discontinued operations before income taxes 10,785 19,396 Income tax expense (benefit) 524 (5,485) Net income from discontinued operations, net of tax $ 10,261 $ 24,881

Investments

Investments	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investment	InvestmentsOur short-term investments as of June 30, 2022 consist of available-for-sale securities, such as U.S. Treasury securities, corporate bonds, commercial paper and asset-backed securities. The Company did not own any investments as of December 31, 2021. The following table summarizes our short-term investments as of June 30, 2022: June 30, 2022 Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Short-term investments: Available-for-sale securities: U.S. Treasury securities $ 23,958 $ — $ (72) $ 23,886 Corporate bonds 22,034 10 (121) 21,923 Commercial paper 8,959 — — 8,959 Asset-backed securities 1,003 — (3) 1,000 Total short-term investments $ 55,954 $ 10 $ (196) $ 55,768 The following table summarizes the fair value of our available-for-sale securities with unrealized losses aggregated by type of investment instrument and length of time those securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in thousands) As of June 30, 2022 U.S. Treasury securities $ 23,886 $ (72) $ — $ — $ 23,886 $ (72) Corporate bonds 20,897 (121) — — 20,897 (121) Asset-backed securities 1,000 (3) — — 1,000 (3) $ 45,783 $ (196) $ — $ — $ 45,783 $ (196) The following table summarizes the contractual underlying maturities of our available-for-sale securities as of June 30, 2022: June 30, 2022 Cost Fair Value (in thousands) Due in one year or less $ 54,951 $ 54,768 Due after one year through five years 1,003 1,000 $ 55,954 $ 55,768

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The following table reflects the changes in goodwill for the six months ended June 30, 2022: (in thousands) Balance at December 31, 2021 $ 3,308,405 Acquisitions 5,415 Goodwill impairment (612,395) Foreign currency translation and other adjustments (59,037) Balance at June 30, 2022 $ 2,642,388 As of June 30, 2022, our accumulated goodwill impairment was $612.4 million. See Note 2. Summary of Significant Accounting Policies for discussion of the goodwill impairment recorded during the six months ended June 30, 2022.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 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 June 30, 2022 and December 31, 2021. There have been no transfers between fair value measurement levels during the six months ended June 30, 2022. Fair Value Measurements at June 30, 2022 Using Quoted Prices in Significant Significant Total (in thousands) Cash equivalents: Money market funds $ 361,055 $ — $ — $ 361,055 U.S. Treasury securities — 7,494 — 7,494 Corporate bonds — 1,784 — 1,784 Commercial paper — 33,846 — 33,846 Total cash equivalents 361,055 43,124 — 404,179 Short-term investments: U.S. Treasury securities — 23,886 — 23,886 Corporate bonds — 21,923 — 21,923 Commercial paper — 8,959 — 8,959 Asset-backed securities — 1,000 — 1,000 Total short-term investments — 55,768 — 55,768 Total assets $ 361,055 $ 98,892 $ — $ 459,947 Fair Value Measurements at December 31, 2021 Using Quoted Prices in Significant Significant Total (in thousands) Cash equivalents: Money market funds $ 645,000 $ — $ — $ 645,000 Total cash equivalents 645,000 — — 645,000 Total assets $ 645,000 $ — $ — $ 645,000 As of June 30, 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 7. Debt for additional information regarding our debt. The fair value of our non-financial assets and liabilities, which include goodwill, intangible assets and property, plant and equipment, are measured on a non-recurring basis. Fair value adjustments are made in the period an impairment charge is recognized. During the three months ended June 30, 2022 we recognized impairment charges of $612.4 million and $9.4 million related to our goodwill and our trade name indefinite-lived intangible asset, respectively. The fair value of our reporting unit and indefinite-lived intangible asset are classified as Level 3 within the fair value hierarchy due to the significant unobservable inputs developed using company-specific information. For additional information, see the discussion of our impairment charges in Note 2. Summary of Significant Accounting Policies - Impairment of Goodwill, Intangible Assets and Long-lived Assets, including the valuation methods and inputs used in the fair value measurements.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes information relating to our debt: June 30, 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 1,899,400 4.42 % 1,909,350 2.85 % Total principal amount 1,899,400 1,909,350 Unamortized discount and debt issuance costs (14,230) (18,681) Total debt 1,885,170 1,890,669 Less: Current portion of long-term debt (19,900) (19,900) Total long-term debt $ 1,865,270 $ 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 June 30, 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 June 30, 2022, we were in compliance with all covenants of the First Lien Credit Agreement.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	8. 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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Basic earnings (loss) per share Numerator: Net loss from continuing operations $ (622,124) $ (21,885) $ (626,783) $ (43,665) Net income from discontinued operations — 10,261 — 24,881 Net loss (622,124) (11,624) (626,783) (18,784) Earnings allocated to unvested restricted stock — — — — Net loss from continuing operations available to common stockholders $ (622,124) $ (21,885) $ (626,783) $ (43,665) Net income from discontinued operations available to common stockholders $ — $ 10,261 $ — $ 24,881 Denominator: Weighted-average common shares outstanding used in computing basic net earnings (loss) per share 160,663 157,854 160,257 157,491 Diluted net earnings (loss) per share Numerator: Net loss from continuing operations available to common stockholders $ (622,124) $ (21,885) $ (626,783) $ (43,665) Net income from discontinued operations available to common stockholders $ — $ 10,261 $ — $ 24,881 Denominator: Weighted-average shares used in computing basic net earnings (loss) per share 160,663 157,854 160,257 157,491 Add dilutive impact of employee equity plans — — — — Weighted-average shares used in computing diluted net earnings (loss) per share 160,663 157,854 160,257 157,491 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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Total anti-dilutive shares 12,594 7,071 11,074 6,613

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended June 30, 2022 and 2021, we recorded income tax expense from continuing operations of $7.9 million and income tax benefit of $2.1 million, respectively, resulting in an effective tax rate of (1.3)% and 8.8%, respectively. For the six months ended June 30, 2022 and 2021, we recorded income tax expense from continuing operations of $7.7 million and income tax benefit $7.0 million, respectively, resulting in an effective tax rate of (1.2)% and 13.8%, respectively. The decrease in the effective tax rate for the three and six months ended June 30, 2022 compared to the same periods in 2021 was primarily due to the effect of the goodwill impairment charge, which is primarily non-deductible for income tax purposes. Our policy is to include interest and penalties related to unrecognized tax benefits as a component of income tax expense. At June 30, 2022, we had accrued interest and penalties related to unrecognized tax benefits of approximately $3.1 million. We establish valuation allowances when necessary to reduce deferred tax assets to amounts expected to be realized. During the three months ended June 30, 2022, as a result of the goodwill impairment charge, we increased our valuation allowance primarily related to the component of tax-deductible goodwill.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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 June 30, 2022, we recorded pretax gross expenses related to the Cyber Incident of $3.7 million, primarily included in general and administrative expense in the condensed consolidated statements of operations. For the three months ended June 30, 2021, we recorded pretax gross expenses related to the Cyber Incident of $13.6 million, partially offset by proceeds under our insurance coverage of $2.9 million, for pretax net expenses of $10.7 million. For the three months ended June 30, 2021, we have included $0.7 million of these gross expenses in cost of recurring revenue, $0.8 million in sales and marketing expense and $12.2 million in general and administrative expense in the condensed consolidated statements of operations. For the six months ended June 30, 2022, we recorded pretax gross expenses related to the Cyber Incident of $9.5 million and have included $0.2 million of these gross expenses in cost of recurring revenue, $0.1 million in sales and marketing expense and $9.2 million in general and administrative expense in the condensed consolidated statements of operations. For the six months ended June 30, 2021, we recorded pretax gross expenses related to the Cyber Incident of $34.0 million, partially offset by proceeds under our insurance coverage of $13.1 million, for pretax net expenses of $20.9 million. For the six months ended June 30, 2021, we have included $1.5 million of these gross expenses in cost of recurring revenue, $1.5 million in sales and marketing expense and $31.0 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 sought 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 2022. As of June 30, 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 June 30, 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)	6 Months Ended
	Jun. 30, 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 or six months ended June 30, 2022.
Impairment of Goodwill and Intangible Assets	Our goodwill was derived from the take private transaction in early 2016 ("Take Private") 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 more frequently if events or circumstances indicate it is more likely than not that the fair value of our reporting unit is less than its carrying value. Subsequent to our annual 2021 goodwill impairment analysis on October 1, 2021, we experienced a decline in our stock price resulting in the total market value of our shares of stock outstanding (our "market capitalization"), being less than the carrying value of our reporting unit. Therefore, as of December 31, 2021, we assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our one reporting unit, 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, 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 goodwill impairment qualitative factors or significant changes to assumptions used in the discounted cash flow models that would impact the fair value 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 as of March 31, 2022. As of June 30, 2022, we experienced a further decline in our market capitalization and considered the impact of current macroeconomic conditions on our projected operating results and assumptions used in the income approach - discounted cash flow method and market approach models that impact the fair value of our reporting unit. The macroeconomic conditions considered include deterioration in the equity markets evidenced by sustained declines in our stock price, those of our peers, and major market indices since December 31, 2021, which reduced the market multiples, along with an increase in the weighted-average cost of capital primarily driven by an increase in interest rates. In addition, as of June 30, 2022, we lowered our projected operating results primarily due to the recent impact of foreign currency exchange rate fluctuations on our projected sales and market concerns related to inflation, supply chain disruption issues and other macroeconomic factors. After considering all available evidence in our evaluation of goodwill impairment indicators, we determined it appropriate to perform an interim quantitative assessment of our reporting unit as of June 30, 2022. We engaged a third-party valuation specialist to assist in the performance of the impairment analysis of our reporting unit. For the interim quantitative goodwill impairment analysis performed as of June 30, 2022, we utilized a combination of both an income and market approach to determine the fair value of our reporting unit. The income approach utilizes a discounted cash flow method which is based on the present value of projected cash flows. The discounted cash flow models reflect our assumptions regarding revenue growth rates, risk-adjusted discount rate, terminal period growth rate, economic and market trends and other expectations about the anticipated operating results of our reporting unit. Under the market approach, we estimate the fair value based on market multiples of revenues derived from comparable publicly traded companies with operating characteristics similar to the reporting unit. As a result of the interim goodwill impairment analysis, our reporting unit was determined to have a carrying value that exceeded its fair value and therefore, a $612.4 million non-cash goodwill impairment charge was recognized in our condensed consolidated statements of operations for the three months ended June 30, 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) volatility in the equity and debt markets or other macroeconomic factors, (ii) an increase in the weighted-average cost of capital due to further increases in interest rates, (iii) timing and success of new products introduced in our evolution from monitoring to observability, (iv) the ongoing impact of the Cyber Incident including a decrease in future cash flows due to lower than expected license sales or maintenance renewals, higher than expected customer attrition, higher than estimated costs to respond and adverse loss exposure from claims, fines or penalties resulting from government investigations and litigation; and (v) fluctuations in foreign currency exchange rates that may negatively impact our reported results of operations. Accordingly, if our current cash flow assumptions are not realized, we experience further sustained declines in our stock price or market capitalization, or there are further declines in the market multiplies used in our analysis, it is possible that an additional impairment charge may be recorded in the future, which could be material. Indefinite-lived Intangible Assets We review our indefinite-lived intangible assets for impairment annually, in the fourth quarter, or more frequently if a triggering event occurs. We first assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative test. If necessary, the quantitative test is performed by comparing the fair value of indefinite lived intangible assets to the carrying value. In the event the carrying value exceeds the fair value of the assets, the assets are written down to their fair value. As of June 30, 2022, due to the factors discussed in the goodwill analysis above, we performed a quantitative assessment of our indefinite-lived intangible assets utilizing a relief from royalty method and determined the estimated fair value of the SolarWinds trade name, recorded in connection with the Take Private, was less than its carrying value. As a result, we recorded a $9.4 million non-cash impairment charge which is included in general and administrative expense in our condensed consolidated statements of operations for the three months ended June 30, 2022.
Impairment Long-lived Assets	We evaluate the recoverability of our long-lived assets, including finite-lived intangible assets and other assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. As of June 30, 2022, prior to performing the goodwill impairment analysis, we performed a recoverability test of our long-lived assets, including finite-lived intangible assets, by comparing the net book value of our long-lived assets or asset groups, to the future undiscounted net cash flows attributable to such assets. We determined no impairment was required.
Investments	Our investments, classified as available-for-sale securities, consist of marketable securities such as U.S. Treasury securities, corporate bonds, commercial paper and asset-backed securities. We determine the appropriate classification of our investments at the time of purchase and reevaluate such determination at each balance sheet date. We may classify our available-for-sale securities as either short-term or long-term investments. We classify an investment as short-term if we have both the intent and ability to convert the security into cash to fund current operations. Available-for-sale securities are carried at fair value, with the unrealized gains and losses, net of tax, reported in accumulated other comprehensive income (loss), which is a component of shareholders' equity except for any unrealized losses determined to be related to credit losses, which we record within other income (expense), net in our condensed consolidated statements of operations. Any premiums or discounts are amortized or accreted, respectively, to maturity as a component of interest expense, net in our condensed consolidated statements of operations. Cash flows from the amount of purchases, sales and maturities of available-for-sale securities are classified as cash flows from investing activities. Amortization and accretion of purchased premiums and discounts on securities are included as a non-cash adjustment to net income (loss) within cash flows from operating activities in our condensed consolidated statements of cash flows. The cost of securities sold is based on the specific-identification method. In determining if and when a decline in fair value is judged to be other-than-temporary, we evaluate, among other factors: the duration and extent to which the fair value has been less than the carrying value and the intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair market value. Declines in fair value deemed other-than-temporary are included as a component of other income (expense), net in our condensed consolidated statements of operations. We have not recorded any other-than-temporary impairments related to marketable securities. See Note 4. Investments
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. We determine the fair value of our available-for-sale securities based on inputs obtained from multiple pricing vendors, who may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value. However, we classify all of our available-for-sale securities as being valued using Level 2 inputs. The valuation techniques used to determine the fair value of our financial instruments having Level 2 inputs are derived from unadjusted, non-binding market consensus prices that are corroborated by observable market data, quoted market prices for similar instruments, or pricing models. Our procedures include controls to ensure that appropriate fair values are recorded by a review of the valuation methods and assumptions. See Note 6. 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)	6 Months Ended
	Jun. 30, 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 Unrealized Gain (Loss) on Investments, Net of Tax Accumulated Other Comprehensive Income (Loss) (in thousands) Balance at December 31, 2021 $ 1,306 $ — $ 1,306 Other comprehensive gain (loss) before reclassification (70,565) (152) (70,717) Amount reclassified from accumulated other comprehensive income (loss) — — — Net current period other comprehensive income (loss) (70,565) (152) (70,717) Balance at June 30, 2022 $ (69,259) $ (152) $ (69,411)
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 (250,679) Additional amounts deferred 237,742 Deferred revenue acquired in business combinations 263 Balance at June 30, 2022 $ 349,995
Remaining Performance Obligations For Revenue Recognition	We expect to recognize revenue related to these remaining performance obligations as of June 30, 2022 as follows: Revenue Recognition Expected by Period Total Less than 1-3 years More than (in thousands) Expected recognition of deferred revenue $ 349,995 $ 315,108 $ 34,023 $ 864
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 3,911 Amortization recognized (3,113) Balance at June 30, 2022 $ 19,695 June 30, December 31, 2022 2021 (in thousands) Classified as: Current $ 5,822 $ 5,378 Non-current 13,873 13,519 Total deferred commissions $ 19,695 $ 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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Amortization of acquired license technologies $ 921 $ 37,328 $ 15,404 $ 74,664 Amortization of acquired subscription technologies 2,727 2,770 5,471 5,851 Total amortization of acquired technologies $ 3,648 $ 40,098 $ 20,875 $ 80,515

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended June 30, 2021 (in thousands) Revenue: Subscription $ 82,821 $ 163,492 Maintenance 2,365 4,740 Total recurring revenue 85,186 168,232 License — — Total revenue 85,186 168,232 Cost of revenue: Cost of recurring revenue 11,788 23,092 Amortization of acquired technologies 1,037 3,741 Total cost of revenue 12,825 26,833 Gross profit 72,361 141,399 Operating expenses: Sales and marketing 24,295 49,926 Research and development 13,275 24,678 General and administrative 19,678 36,523 Amortization of acquired intangibles 4,276 10,295 Total operating expenses 61,524 121,422 Operating income from discontinued operations 10,837 19,977 Other expense: Interest (expense) income, net — — Other expense, net (52) (581) Total other expense (52) (581) Income from discontinued operations before income taxes 10,785 19,396 Income tax expense (benefit) 524 (5,485) Net income from discontinued operations, net of tax $ 10,261 $ 24,881

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-Sale Securities Reconciliation	The following table summarizes our short-term investments as of June 30, 2022: June 30, 2022 Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Short-term investments: Available-for-sale securities: U.S. Treasury securities $ 23,958 $ — $ (72) $ 23,886 Corporate bonds 22,034 10 (121) 21,923 Commercial paper 8,959 — — 8,959 Asset-backed securities 1,003 — (3) 1,000 Total short-term investments $ 55,954 $ 10 $ (196) $ 55,768
Schedule of Available-for-Sale Securities in Continuous Unrealized Loss Position and Fair Value	The following table summarizes the fair value of our available-for-sale securities with unrealized losses aggregated by type of investment instrument and length of time those securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in thousands) As of June 30, 2022 U.S. Treasury securities $ 23,886 $ (72) $ — $ — $ 23,886 $ (72) Corporate bonds 20,897 (121) — — 20,897 (121) Asset-backed securities 1,000 (3) — — 1,000 (3) $ 45,783 $ (196) $ — $ — $ 45,783 $ (196)
Schedule of Investments Classified by Contractual Maturity Date	The following table summarizes the contractual underlying maturities of our available-for-sale securities as of June 30, 2022: June 30, 2022 Cost Fair Value (in thousands) Due in one year or less $ 54,951 $ 54,768 Due after one year through five years 1,003 1,000 $ 55,954 $ 55,768

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table reflects the changes in goodwill for the six months ended June 30, 2022: (in thousands) Balance at December 31, 2021 $ 3,308,405 Acquisitions 5,415 Goodwill impairment (612,395) Foreign currency translation and other adjustments (59,037) Balance at June 30, 2022 $ 2,642,388

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2022 and December 31, 2021. There have been no transfers between fair value measurement levels during the six months ended June 30, 2022. Fair Value Measurements at June 30, 2022 Using Quoted Prices in Significant Significant Total (in thousands) Cash equivalents: Money market funds $ 361,055 $ — $ — $ 361,055 U.S. Treasury securities — 7,494 — 7,494 Corporate bonds — 1,784 — 1,784 Commercial paper — 33,846 — 33,846 Total cash equivalents 361,055 43,124 — 404,179 Short-term investments: U.S. Treasury securities — 23,886 — 23,886 Corporate bonds — 21,923 — 21,923 Commercial paper — 8,959 — 8,959 Asset-backed securities — 1,000 — 1,000 Total short-term investments — 55,768 — 55,768 Total assets $ 361,055 $ 98,892 $ — $ 459,947 Fair Value Measurements at December 31, 2021 Using Quoted Prices in Significant Significant Total (in thousands) Cash equivalents: Money market funds $ 645,000 $ — $ — $ 645,000 Total cash equivalents 645,000 — — 645,000 Total assets $ 645,000 $ — $ — $ 645,000

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Summary of Debt	The following table summarizes information relating to our debt: June 30, 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 1,899,400 4.42 % 1,909,350 2.85 % Total principal amount 1,899,400 1,909,350 Unamortized discount and debt issuance costs (14,230) (18,681) Total debt 1,885,170 1,890,669 Less: Current portion of long-term debt (19,900) (19,900) Total long-term debt $ 1,865,270 $ 1,870,769

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Basic earnings (loss) per share Numerator: Net loss from continuing operations $ (622,124) $ (21,885) $ (626,783) $ (43,665) Net income from discontinued operations — 10,261 — 24,881 Net loss (622,124) (11,624) (626,783) (18,784) Earnings allocated to unvested restricted stock — — — — Net loss from continuing operations available to common stockholders $ (622,124) $ (21,885) $ (626,783) $ (43,665) Net income from discontinued operations available to common stockholders $ — $ 10,261 $ — $ 24,881 Denominator: Weighted-average common shares outstanding used in computing basic net earnings (loss) per share 160,663 157,854 160,257 157,491 Diluted net earnings (loss) per share Numerator: Net loss from continuing operations available to common stockholders $ (622,124) $ (21,885) $ (626,783) $ (43,665) Net income from discontinued operations available to common stockholders $ — $ 10,261 $ — $ 24,881 Denominator: Weighted-average shares used in computing basic net earnings (loss) per share 160,663 157,854 160,257 157,491 Add dilutive impact of employee equity plans — — — — Weighted-average shares used in computing diluted net earnings (loss) per share 160,663 157,854 160,257 157,491
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Total anti-dilutive shares 12,594 7,071 11,074 6,613

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)			3 Months Ended		6 Months Ended
	Dec. 31, 2021 USD ($)	Jul. 30, 2021	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Change in Accounting Estimate [Line Items]
Reverse stock split, conversion ratio		0.5
Goodwill impairment	$ 0		$ 612,395,000	$ 0	$ 612,395,000	$ 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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 2,277,378	$ 2,950,166	$ 2,287,896	$ 3,010,687
Other comprehensive income (loss)	(53,822)	17,645	(70,717)	(48,105)
Balance at end of period	1,617,807	2,971,713	1,617,807	2,971,713
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			(70,565)
Amount reclassified from accumulated other comprehensive income (loss)			0
Other comprehensive income (loss)			(70,565)
Balance at end of period	(69,259)		(69,259)
Unrealized Gain (Loss) on Investments, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			0
Other comprehensive gain (loss) before reclassification			(152)
Amount reclassified from accumulated other comprehensive income (loss)			0
Other comprehensive income (loss)			(152)
Balance at end of period	(152)		(152)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(15,589)	61,462	1,306	127,212
Other comprehensive gain (loss) before reclassification			(70,717)
Amount reclassified from accumulated other comprehensive income (loss)			0
Other comprehensive income (loss)			(70,717)
Balance at end of period	$ (69,411)	$ 79,107	$ (69,411)	$ 79,107

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Changes in Deferred Revenue (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Movement in Deferred Revenue [Roll Forward]
Balance at December 31, 2021	$ 362,669
Deferred revenue recognized	(250,679)
Additional amounts deferred	237,742
Deferred revenue acquired in business combinations	263
Balance at June 30, 2022	$ 349,995

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Expected Recognition of Deferred Revenue (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Accounting Policies [Abstract]
Expected recognition of deferred revenue	$ 349,995
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Accounting Policies [Abstract]
Expected recognition of deferred revenue	$ 315,108
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining revenue performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Accounting Policies [Abstract]
Expected recognition of deferred revenue	$ 34,023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining revenue performance obligation, expected timing of satisfaction, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Accounting Policies [Abstract]
Expected recognition of deferred revenue	$ 864
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining revenue performance obligation, expected timing of satisfaction, period

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Change in Contract Acquisition Costs (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Deferred Commissions, Roll Forward [Roll Forward]
Balance at December 31, 2021	$ 18,897
Commissions capitalized	3,911
Amortization recognized	(3,113)
Balance at June 30, 2022	19,695
Current	5,822	$ 5,378
Non-current	13,873	13,519
Total deferred commissions	$ 19,695	$ 18,897

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Cost of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Product Information [Line Items]
Total amortization of acquired technologies	$ 3,648	$ 40,098	$ 20,875	$ 80,515
License
Product Information [Line Items]
Total amortization of acquired technologies	921	37,328	15,404	74,664
Subscription
Product Information [Line Items]
Total amortization of acquired technologies	$ 2,727	$ 2,770	$ 5,471	$ 5,851

Discontinued Operations - Summa

Discontinued Operations - Summarizes the Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other expense:
Net income from discontinued operations, net of tax	$ 0	$ 10,261	$ 0	$ 24,881
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | N-able
Revenue:
Total revenue		85,186		168,232
Cost of revenue:
Cost of recurring revenue		11,788		23,092
Amortization of acquired technologies		1,037		3,741
Total cost of revenue		12,825		26,833
Gross profit		72,361		141,399
Operating expenses:
Sales and marketing		24,295		49,926
Research and development		13,275		24,678
General and administrative		19,678		36,523
Amortization of acquired intangibles		4,276		10,295
Total operating expenses		61,524		121,422
Operating income from discontinued operations		10,837		19,977
Other expense:
Interest (expense) income, net		0		0
Other expense, net		(52)		(581)
Total other expense		(52)		(581)
Income from discontinued operations before income taxes		10,785		19,396
Income tax expense (benefit)		524		(5,485)
Net income from discontinued operations, net of tax		10,261		24,881
Recurring Revenue | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | N-able
Revenue:
Total revenue		85,186		168,232
Subscription | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | N-able
Revenue:
Total revenue		82,821		163,492
Maintenance | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | N-able
Revenue:
Total revenue		2,365		4,740
License | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | N-able
Revenue:
Total revenue		$ 0		$ 0

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
N-able | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Subsidiary, Sale of Stock [Line Items]
Spin-off costs	$ 13.2	$ 0.2	$ 23.1

Investments - Available-For-Sal

Investments - Available-For-Sale Securities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Short-term investments:
Cost	$ 55,954
Gross Unrealized Gains	10
Gross Unrealized Losses	(196)
Fair Value	55,768	$ 0
U.S. Treasury securities
Short-term investments:
Cost	23,958
Gross Unrealized Gains	0
Gross Unrealized Losses	(72)
Fair Value	23,886
Corporate bonds
Short-term investments:
Cost	22,034
Gross Unrealized Gains	10
Gross Unrealized Losses	(121)
Fair Value	21,923
Commercial paper
Short-term investments:
Cost	8,959
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	8,959
Asset-backed securities
Short-term investments:
Cost	1,003
Gross Unrealized Gains	0
Gross Unrealized Losses	(3)
Fair Value	$ 1,000

Investments - Summary of Fair V

Investments - Summary of Fair Value Of Available-For-Sale Securities With Unrealized Losses (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Debt Securities, Available-for-Sale [Line Items]
Available-for-sale securities less than 12 months, Fair Value	$ 45,783
Available-for-sale securities less than 12 months, Gross Unrealized Losses	(196)
Available-for-sale securities, 12 Months or Greater, Fair Value	0
Available-for-sale securities, 12 Months or Longer, Gross Unrealized Losses	0
Available-for-sale securities, Total Fair Value	45,783
Available-for-sale securities Total Gross Unrealized Loss	(196)
U.S. Treasury securities
Debt Securities, Available-for-Sale [Line Items]
Available-for-sale securities less than 12 months, Fair Value	23,886
Available-for-sale securities less than 12 months, Gross Unrealized Losses	(72)
Available-for-sale securities, 12 Months or Greater, Fair Value	0
Available-for-sale securities, 12 Months or Longer, Gross Unrealized Losses	0
Available-for-sale securities, Total Fair Value	23,886
Available-for-sale securities Total Gross Unrealized Loss	(72)
Corporate bonds
Debt Securities, Available-for-Sale [Line Items]
Available-for-sale securities less than 12 months, Fair Value	20,897
Available-for-sale securities less than 12 months, Gross Unrealized Losses	(121)
Available-for-sale securities, 12 Months or Greater, Fair Value	0
Available-for-sale securities, 12 Months or Longer, Gross Unrealized Losses	0
Available-for-sale securities, Total Fair Value	20,897
Available-for-sale securities Total Gross Unrealized Loss	(121)
Asset-backed securities
Debt Securities, Available-for-Sale [Line Items]
Available-for-sale securities less than 12 months, Fair Value	1,000
Available-for-sale securities less than 12 months, Gross Unrealized Losses	(3)
Available-for-sale securities, 12 Months or Greater, Fair Value	0
Available-for-sale securities, 12 Months or Longer, Gross Unrealized Losses	0
Available-for-sale securities, Total Fair Value	1,000
Available-for-sale securities Total Gross Unrealized Loss	$ (3)

Investments - Maturity Dates Of

Investments - Maturity Dates Of Available-For-Sale Securities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Cost
Due in one year or less	$ 54,951
Due after one year through five years	1,003
Net Carrying Amount	55,954
Fair Value
Due in one year or less	54,768
Due after one year through five years	1,000
Fair Value	$ 55,768

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) - USD ($)		3 Months Ended		6 Months Ended
	Dec. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill [Roll Forward]
Balance at beginning of period				$ 3,308,405,000
Acquisitions				5,415,000
Goodwill impairment	$ 0	$ (612,395,000)	$ 0	(612,395,000)	$ 0
Foreign currency translation and other adjustments				(59,037,000)
Balance at end of period	$ 3,308,405,000	$ 2,642,388,000		$ 2,642,388,000

Goodwill - Narrative (Details)

Goodwill - Narrative (Details) $ in Millions	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated goodwill impairment	$ 612.4

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Assets Measured on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	$ 404,179	$ 645,000
Short-term investments:	55,768
Total assets	459,947	645,000
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	23,886
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	21,923
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	1,000
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	8,959
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	361,055	645,000
Short-term investments:	0
Total assets	361,055	645,000
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	43,124	0
Short-term investments:	55,768
Total assets	98,892	0
Significant Other Observable Inputs (Level 2) | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	23,886
Significant Other Observable Inputs (Level 2) | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	21,923
Significant Other Observable Inputs (Level 2) | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	1,000
Significant Other Observable Inputs (Level 2) | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	8,959
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Short-term investments:	0
Total assets	0	0
Significant Unobservable Inputs (Level 3) | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0
Significant Unobservable Inputs (Level 3) | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0
Significant Unobservable Inputs (Level 3) | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0
Significant Unobservable Inputs (Level 3) | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	361,055	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 equivalents:	361,055	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 equivalents:	0	0
Money market funds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	$ 0
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	7,494
U.S. Treasury securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0
U.S. Treasury securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	7,494
U.S. Treasury securities | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	1,784
Corporate bonds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0
Corporate bonds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	1,784
Corporate bonds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	33,846
Commercial paper | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0
Commercial paper | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	33,846
Commercial paper | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Dec. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Goodwill impairment	$ 0	$ 612,395,000	$ 0	$ 612,395,000	$ 0
Indefinite-lived intangible assets impairment, excluding goodwill		$ 9,400,000

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Amount
Total principal amount	$ 1,899,400	$ 1,909,350
Unamortized discount and debt issuance costs	(14,230)	(18,681)
Total debt	1,885,170	1,890,669
Less: Current portion of long-term debt	(19,900)	(19,900)
Total long-term debt	1,865,270	1,870,769
Line of Credit | Revolving credit facility
Amount
Total principal amount	$ 0	$ 0
Effective Rate	0%	0%
Secured Debt | First Lien Term Loan (as amended) due Feb 2024
Amount
Total principal amount	$ 1,899,400	$ 1,909,350
Effective Rate	4.42%	2.85%

Debt - Narrative (Details)

Debt - Narrative (Details) - Credit Suisse $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Eurodollar
Debt Instrument [Line Items]
LIBOR floor	0%
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%
Secured Debt | First Lien Term Loan
Debt Instrument [Line Items]
Face amount of debt	$ 1,990
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%
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	$ 117.5
Commitment fee percentage	0.50%
Covenant, commitment fee percentage, net leverage ratio, reduction per annum	0.375%
Covenant, borrowing percentage of commitments, maximum	35%
Line of Credit | Revolving credit facility | Eurodollar
Debt Instrument [Line Items]
Covenant, floor interest rate	0%
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
Line of Credit | Multi-Currency Tranche | Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity	100
Line of Credit | Single Currency Tranche | Revolving credit facility | US Dollars
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 17.5

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net loss from continuing operations	$ (622,124)	$ (21,885)	$ (626,783)	$ (43,665)
Net income from discontinued operations	0	10,261	0	24,881
Net loss	(622,124)	(11,624)	(626,783)	(18,784)
Earnings allocated to unvested restricted stock	0	0	0	0
Net loss from continuing operations available to common stockholders	(622,124)	(21,885)	(626,783)	(43,665)
Net income from discontinued operations available to common stockholders	$ 0	$ 10,261	$ 0	$ 24,881
Denominator:
Weighted-average common shares outstanding used in computing basic net earnings (loss) per share (in shares)	160,663	157,854	160,257	157,491
Add dilutive impact of employee equity plans (in shares)	0	0	0	0
Weighted-average shares used in computing diluted net earnings (loss) per share (in shares)	160,663	157,854	160,257	157,491

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Total anti-dilutive shares (in shares)	12,594	7,071	11,074	6,613

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 7,871	$ (2,121)	$ 7,715	$ (7,001)
Effective income tax rate	(1.30%)	8.80%	(1.20%)	13.80%
Unrecognized tax benefits, income tax penalties and interest accrued	$ 3,100		$ 3,100

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Loss Contingencies [Line Items]
Loss contingency, receivable, additions		$ 2.9		$ 13.1
Cybersecurity insurance coverage amount	$ 15		$ 15
Loss contingency, receivable, proceeds			15
Director and Officer liability insurance	50		50
Cyber Incident
Loss Contingencies [Line Items]
Loss contingency, pretax expenses	$ 3.7	13.6	9.5	34
Loss contingency expense net of insurance proceeds		10.7		20.9
Cyber Incident | Cost of Sales
Loss Contingencies [Line Items]
Loss contingency, pretax expenses		0.7	0.2	1.5
Cyber Incident | Selling and Marketing Expense
Loss Contingencies [Line Items]
Loss contingency, pretax expenses		0.8	0.1	1.5
Cyber Incident | General and Administrative Expense
Loss Contingencies [Line Items]
Loss contingency, pretax expenses		$ 12.2	$ 9.2	$ 31