Another busy week for managed service providers, cloud service providers, the rest of the channel and those of us who work at the Penton channel brands (formerly known as Nine Lives Media) as we all assimilated the news out of Microsoft’s Worldwide Partner conference along with Microsoft’s big layoff announcement. The VAR Guy’s Charlene O’Hanlon was visiting the Extreme Networks event in Las Vegas and the rest of us were plugging away and getting ready for ChannelCon. So we didn’t really have time to cover all the stories we wanted to. Here’s yet another count down of things we didn’t get to.
7. SolarWinds, N-able’s parent company, reported quarterly earnings this week. It did not break out N-able’s results, but did report total revenue for Q2 of $101.5 million, a 31 percent increase over last year’s Q2. SolarWinds said total recurring revenue reached $53.9 million, comprised of $5.8 million in subscription revenue and $58 million in maintenance revenue. The total was the highest ever reached by the company and marked an increase of 38 percent over last year’s Q2. It represented 63 percent of total revenue, SolarWinds said.
SolarWinds acquired application performance monitoring company Pingdom in June and said the company contributed only about $100,000 in subscription revenue in Q2.
6. What’s ConnectWise been up to lately? In the weeks after rival Autotask announced its acquisition by another private equity company, I spoke with ConnectWise CEO Arnie Bellini about his company, its milestones and roadmap, and what else is on the horizon.
He was quick to point out the company had 90,000 users using ConnectWise (probably more by now), that the company is debt-free with no venture capital investments and high profitability.
“We want to control our own destiny,” he said. That doesn’t rule out an IPO in the future. Bellini called it a “possibility” and we’ve heard similar words from others close to the company. “We are in a perfect position to become a public company, but the only reason to do that is if you need to raise capital. We don't need to raise capital. We continue to invest in other companies and still ahve a healthy amount of cash in the bank. …when we want to go to the next level we will most likely become a public company. right now we are not feeling that. we are able to generate the capital ourselves.”
5. What ConnectWise and other managed services platform companies have been doing is building out an ecosystem of third-party developers to extend their platforms. Consider that ConnectWise has moved channel veteran Jeannine Edwards to a new role leading the third party API and platform development initiative. You can see some of that third-party development activity at the LabTech Geek forum site in the form of plug-ins for the RMM (remote monitoring and management platform. You can see that goal and desire expressed by another RMM executive, GFI Max’s Dave Sobel here. I see lots of momentum here and have spoken with a few of these third party developers. Expect more coverage on this soon.
4. Zetta.net has upped its game with the release a few months ago of a best practices planning guide for MSPs on data backup and disaster recovery. Spurred by research conducted by the company. They found that different types of data were more easily restored if they were backed up in different kids of ways. The idea was to optimize the backup for the most common restore scenarios. There are three biggies, Chris Schin told me. Single file restore, corrupted databases, and full server failures. The planning guide provides the logic on best choices and practices for various scenarios.
More information is available from Zetta.
3. Devices per user? Devices per technician? Some of the MSPmentor 501 research we’ve conducted includes a bit of this data. We’ll be dipping into the research in the months to come to paint a more complete picture of what today’s MSP looks like.
2. Tools, anyone? We’ll also be dipping into the data to put together some lists of the tools MSPs are using today.
1. And as I work through these projects, I’ll also be getting prepared for next year’s MSP501 survey. The survey will launch here in October. Are there any burning questions you would like us to ask your peers in the managed services market? Please add your suggestions to the comments below.