Datto Holdings’ Revenue by Segment (2019-2022)

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This statistic highlights Datto Holdings’ Revenue by Segment, split between Devices, Professional Services, and Subscriptions segments, reported on a quarterly basis from Q3 2019 onwards.
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This statistic highlights Datto Holdings’ Revenue by Segment, split between Devices, Professional Services, and Subscriptions segments, reported on a quarterly basis from Q3 2019 onwards.

Datto Holdings’ Revenue by Segment

Segment  Q3 2020  Q2 2021  Q3 2021 Contribution in Q3 2021
Device $6.96 $9.03 $10.24 6%
Professional services and other $0.95 $0.83 $0.89 1%
Subscriptions $122.75 $141.74 $146.76 93%
Total $130.67 $151.60 $157.89 100%

(All the figures in millions, except percentages)

There has been an increase in revenue from $130.67 million to $157.89 million in Q3 2021, marking a rise of 20.83% on a year-on-year basis. Revenue also grew by 4.15% on the quarter-on-quarter basis as compared to $151.6 million in Q2 2021.

Devices

The company sells physical hardware and software-embedded devices to facilitate recurring subscription services. These include:

  • BCDR (Business Continuity and Disaster Recovery) devices consist of proprietary software which allows intelligent backup which enables business continuity and disaster recovery services.
  • Networking Device refers to the collection of the integrated Wifi Access points that allows MSPs (Managed Service Providers) to operate smoothly and cloud-managed networking to SMB (Small and Medium Business) customers.

Revenue increased from $6.96 million in Q3 2020 to $10.24 million in Q3 2021, making a rise of 47.13%. It also grew by 13.4% as compared to $9.03 million in Q2 2021. This segment contributed 6% to the total revenue in Q3 2021.

Professional Services and Other

Professional Services consist of the implementation and consulting services that the company offers and revenue is recognized based on time and material. These services include database merging, configuration, and data migration of the company’s software.

Revenue declined from $0.95 million in Q3 2020 to $0.89 million, making a fall of 6.32%. But revenue increased by approximately 7.23% as compared to Q2 2021 due to additional implementation of cloud-based business management offerings. This segment contributed 1% to the total revenue in Q3 2021.

Subscription

The subscription service allows the user to access software and offers supporting services such as technical support and are categorized as follows:

  • Unified continuity and networking services that offer Disaster recovery services such as in restoration of customer environment and SaaS application backup and restore.
  • Business Management Solution includes customer relationship management, service desk, project management, contract management, etc.

This sement made the highest contribution of 93% in Q3 2021. Revenue increased from $122.75 million in Q3 2020 to $146.76 million in Q3 2021, approximately by 19.56%. It also grew by 3.54% as compared to $141.74 million in Q2 2021. This increase is primarily due to an increase in sales of Unified continuity, Business Management, and Networking services.

Impact of Covid-19 

The company experienced lower sales bookings, slower ARR growth, and slower subscription growth. Spending by MSP partners and SMB customers also witnessed a decline. Lower cash collection from MSP partners resulted in lengthening of account receivables period.

About the Company

Datto Holdings is a leading American cloud-based software and technology provider which delivers the services through the MSP channel to their SMB customers.  The company was founded in 2017 in Norwalk, Connecticut, and became a subsidiary of Vista Equity Partners in 2017. The products that the company offers are as follows:

  1. Unified Continuity Products

It protects the workloads that are data, applications, and configuration which are located on laptops, workstations, etc. There are five cloud-based products that protect and restore workloads:

  • Business Continuity and Disaster Recovery- It uses BCDR products to protect servers and workstations to reduce the downtime of SMBs.
  • Cloud Continuity- It takes an image of the PC to be protected and replicates it to the Datto cloud.
  • SaaS protection- It is a backup and restoration product for Microsoft 365 and Google workspace data that allows users to quickly backup their emails, files, and sites.
  • Workplace- It allows users to work and share any type of document in its native file format.
  • File Protection- It protects and recovers files and folders on the laptop of all types.

2. Networking Products

Datto Networking offers cloud-managed networking products for MSPs to be delivered smoothly to their SMB customers. There are three products included under Networking products offered by the company:

  • Access Points- The company’s Wifi points offer high-powered wireless mesh networks.
  • Switches- The company offers 8, 24, and 48 port options.
  • Edge Routers- It offers functions such as intrusion detection and prevention and a firewall.

3. Business Management Products

It consists of SaaS offerings that help MSPs to be more efficient. It includes:

  • Autotask Professional Service Automation- It is an IT business management product that allows the partner to monitor sales pipeline, track technician productivity, and customer profitability.
  • Remote Monitoring and Management- It is a remote monitoring and management product designed to manage millions of SMB customers’ endpoints efficiently.

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