N-able Reports Revenue Growth & Expanded Customer Base

By Bobby Samwell • Thursday, February 29 10:24 • Permanent Link

N-able, Inc. has recently released its 10-K report, providing a comprehensive insight into the company's financial and operational performance. N-able, Inc. is a leading global provider of cloud-based software solutions for managed service providers (MSPs), supporting digital transformation and growth for small and medium-sized enterprises (SMEs) with its enterprise-grade software platform. The company's solutions encompass a wide range of services, including remote monitoring and management, security solutions, data protection, and business management solutions. N-able, Inc. was founded in 2000 and is headquartered in Burlington, Massachusetts.

The company's total revenue for the three months ended December 31, 2023, was $108.4 million, reflecting a growth from $95.8 million in the same period in 2022. As of December 31, 2023, N-able, Inc. had approximately 25,000 customers, and its MSP partners with annualized recurring revenue (ARR) over $50,000 on its platform increased from 1,898 as of December 31, 2022, to 2,196 as of December 31, 2023, representing an approximate 16% growth. Moreover, MSP partners with over $50,000 of ARR on the platform grew from approximately 51% of the total ARR as of December 31, 2022, to approximately 56% of the total ARR as of December 31, 2023.

In terms of profitability, N-able, Inc. reported a net income of $9.4 million for the three months ended December 31, 2023, compared to $7.0 million for the same period in 2022. The increase in net income was primarily attributed to higher revenue, a decrease in amortization of acquired intangibles, a decrease in general and administrative expense, and an increase in other income, net.

The company's Adjusted EBITDA, calculated as net income excluding certain expenses, was $39.2 million for the three months ended December 31, 2023, compared to $31.2 million for the same period in 2022, indicating strong operating efficiency and profitability.

N-able, Inc. has also demonstrated robust cash flow generation, with cash flows from operations amounting to $31.2 million for the three months ended December 31, 2023, compared to $18.4 million for the same period in 2022. This strong cash flow generation reflects the company's ability to efficiently manage its operations and finances.

Today the company's shares have moved 0.9% to a price of $13.06. For the full picture, make sure to review N-able's 10-K report.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.