DAtto: Fiscal 1Q21 Financial Results

DAtto Holding Corp. (DAtto) announced its financial results for the first-quarter ended March 31, 2021.

“Our first quarter results represented a great start to the year,” said Tim Weller, CEO. “We delivered subscription revenue growth of 17% Y/Y, added 300 net new partners during the quarter and drove another sequential increase in ARR growth, so the business continues to accelerate. Looking ahead to the rest of 2021, we remain focused on our investments in cloud and security as we give our MSP partners the ability to secure SMB digital assets in a hybrid cloud world no matter where the data and applications live. We see good momentum across the product suite and we are well positioned to capitalize on the large and growing market opportunity ahead of us.”

Quarterly subscription revenue
(in $ million)

Recent Highlights
• Ended the quarter with more than 17,300 MSP partners, a net increase of 300 in the quarter.
• Expanded MSPs contributing over $100,000 ARR to 1,150 up from 1,000 at March 31, 2020.
• Launched DAtto Commerce in North America. By simplifying how MSPs quote, sell and procure, DAtto Commerce improves operational efficiency and productivity for MSPs.
• Hosted our fourth MSP Tech Day, with a focus on cyber resilience. The event delivered a deep dive into cybersecurity, BC, and incident response to help MSPs and their SMB clients protect vs. growing cyber threats.
• Announced the findings of a commissioned study by Forrester highlighting that DAtto’s integrated solutions yielded an average ROI of 256% within a 3-year period for MSPs, with the platform paying for itself in less than 6 months.
• Recognized as a strategic, high-performance RMM/PSA vendor by Canalys in their recent RMM/PSA vendor Point of View report.
• Closed the acquisition of BitDam, an Israel-based cyber security company that protects SMBs vs. ransomware, malware, and phishing threats. BitDam’s elite team and leading cyber threat detection technology enhance DAtto’s cyber resilience solutions.

2Q21 Outlook: Revenue between $146 and $148 million
 
FY21 Outlook: Revenue between $594 and $600 million

Earnings call transcript