N-Able, Inc. ( (NABL) ) has released its Q3 earnings. Here is a breakdown of the information N-Able, Inc. presented to its investors.
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N-able, Inc. is a global software company that provides IT services such as remote monitoring, management, and data protection solutions, primarily serving small and medium-sized enterprises and managed service providers (MSPs) worldwide.
In its third-quarter earnings report for 2024, N-able, Inc. reported solid financial performance, with notable growth in revenue and profitability metrics. The company highlighted its strategic advancements in global compliance initiatives and expansion of its Technology Alliance Program, reinforcing its commitment to serving the cybersecurity and IT management needs of its partners.
N-able’s financial performance for the quarter showcased a total revenue of $116.4 million, marking an 8.3% increase from the previous year. The subscription revenue alone amounted to $115 million, reflecting a 9.3% year-over-year growth. The company achieved a GAAP net income of $10.8 million, or $0.06 per diluted share, and a non-GAAP net income of $24.3 million, or $0.13 per diluted share. Additionally, N-able reported an adjusted EBITDA of $44.8 million, up 22.7% from the previous year, indicating robust profitability with a margin of 38.5%.
Strategically, N-able launched global compliance initiatives to bolster cybersecurity resilience among its partners and expanded its Technology Alliance Program, fostering collaborations with industry leaders such as Bocada and AlertOps. These initiatives aim to enhance product security and provide MSPs with a flexible portfolio of integrations to better serve their customers.
Looking ahead, N-able has updated its full-year revenue outlook to $462 million and anticipates an adjusted EBITDA margin of 37%. The company remains optimistic about its growth trajectory, driven by its strategic investments and commitment to delivering resilient and efficient IT solutions to its customers.
