*By Christian Smith*
Software company SolarWinds ($SWI), which went public on the New York Stock Exchange on Friday, isn't concerned about the bumpy market for tech stocks, said CEO Kevin Thompson.
"We've got an advantage that we are a company that grows quickly, but we're incredibly profitable," Thompson said Friday in an interview on Cheddar.
"We generate 50 cents of profit on every dollar of revenue, which allowed us to get out in a market that other software companies really would have been afraid to brave."
Still, there were challenges to bear. The IT management software company not only cut the size of its initial public offering from 42 million shares to 25 million, but also priced its stock at $15 ー the low end of an already-reduced range. The stock closed the day up just $0.03.
SolarWinds isn't new to the public market. The company was previously listed on the New York Stock Exchange from 2009 until it was acquired by private equity firms Thoma Bravo and Silver Lake in 2016.
Thompson said that he learned major lessons from his operation's first stint as a public company.
"You've got to be patient, and you've got to make sure you're able to deliver on all of the commitments you make to Wall Street," Thompson said.
SolarWinds brought in almost $800 million in revenue in for the 12 months ended June 30, 2018.
Thompson said the company didn't need to raise capital, but doing so will help it pay down the debt it took on in going private and to get to its next phase.
"This is really the next step in our evolution," Thompson said.
For full interview [click here](https://cheddar.com/videos/software-company-solarwinds-goes-public-for-a-second-time).
Arguments at the Supreme Court have concluded for the day as the justices consider President Donald Trump's sweeping unilateral tariffs in a trillion-dollar test of executive power.
AI is reshaping investigations. Longeye CEO Guillaume Delepine shares how their AI workspace empowers law enforcement to uncover insights faster and smarter.
Stephen Kates, Financial Analyst at Bankrate, joins to discuss the Fed’s 25-basis-point rate cut, inflation risks, and what it all means for consumers and marke
Big tech earnings take center stage as investors digest results from Alphabet, Meta, Microsoft, Amazon, and Apple, with insights from Gil Luria of D.A. Davidson
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
