UPDATE: Datto Holding Corp. (MSP) Tops Q4 EPS by 5c, Revenues Beat; Offers 1Q & FY21 Revenues Guidance Above Consensus

March 11, 2021 4:22 PM EST
Get Alerts MSP Hot Sheet
Price: $23.53 -1.75%

Today's EPS Names:
FMBI, CSX, ISRG, More
Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
(Updated - March 11, 2021 4:23 PM EST)

Datto Holding Corp. (NYSE: MSP) reported Q4 EPS of $0.16, $0.05 better than the analyst estimate of $0.11. Revenue for the quarter came in at $139 million versus the consensus estimate of $133.64 million.

Recent Highlights

  • Acquired BitDam, an Israel-based cyber security company that protects small and medium businesses (SMBs) against ransomware, malware, and phishing threats. BitDam’s best-in-class technology and team significantly enhance Datto’s cyber resilience solutions for SMBs.
  • Released RMM Ransomware Detection to monitor, prevent and remediate ransomware attacks, giving MSPs an extra layer of security.
  • Joined the Institute for Security and Technology’s Multi-Sector Ransomware Task Force in the fight against cyber crime.
  • Hosted Datto’s third virtual MSP Technology Day dedicated to highlighting operational efficiency and cyber security themes for MSPs.
  • Published the 5th annual State of the Channel Ransomware Report surveying more than 1,000 MSPs, which found that cyber security is MSPs’ number one concern and phishing is the leading attack vector.
  • Ended the quarter with more than 17,000 MSP partners, an increase of 400 year-over-year.

“2020 was a milestone year for Datto. We completed our first year as a public company, delivering full year subscription revenue growth of 18%, expanding cash flow margins and deepening our strong, global MSP partner relationships,” said Tim Weller, Datto’s Chief Executive Officer. “Our strong fourth quarter and full year performance is a testament to the power of Datto’s MSP-centric platform and the durability of our recurring revenue subscription model, even during these challenging times. Our sequential quarterly ARR growth of $20 million is continued evidence of the reacceleration of our business and the tailwinds from the digital transformation of small and medium businesses. Looking ahead to 2021 in this increasingly hybrid cloud environment, we remain focused on providing MSPs and their SMB clients with best-in-class security, continuity, and remote monitoring and management solutions for complete cyber resilience. Cloud and security have been at the core of Datto’s mission to protect digital assets since inception. Our recent acquisition of BitDam further advances the value we provide to our network of more than 17,000 MSP partners and we are well positioned take advantage of the large opportunities in front of us.”

GUIDANCE:

Datto Holding Corp. sees Q1 2021 revenue of $142-144 million, versus the consensus of $135.44 million.

Datto Holding Corp. sees FY2021 revenue of $582-590 million, versus the consensus of $574.25 million.

For earnings history and earnings-related data on Datto Holding Corp. (MSP) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Earnings, Guidance, Hot Guidance, Management Comments

Related Entities

Earnings, Definitive Agreement