N-Able, Inc. ( (NABL) ) has released its Q4 earnings. Here is a breakdown of the information N-Able, Inc. presented to its investors.
N-able, Inc., a global software company, specializes in providing IT services providers with solutions for security, data protection-as-a-service, and unified endpoint management. The company operates in the technology sector, focusing on enhancing cyber-resilience for businesses worldwide.
In its latest earnings report, N-able, Inc. announced a strong finish to 2024, surpassing revenue expectations with a 7% year-over-year growth in the fourth quarter. The company also outlined its financial outlook for 2025, projecting adjusted EBITDA margins of 27% to 28% and a constant currency ARR growth of 7% to 9%.
Key financial highlights for the fourth quarter of 2024 include a total revenue of $116.5 million, marking a 7.5% increase from the previous year, and a subscription revenue of $115.0 million, reflecting an 8.5% rise. The company’s GAAP gross margin stood at 80.0%, while the non-GAAP gross margin was 82.3%. Additionally, N-able reported a GAAP net income of $3.3 million and an adjusted EBITDA of $38.1 million, indicating a margin of 32.7%. For the full year, N-able achieved a total revenue of $466.1 million, a 10.5% increase year-over-year, and a subscription revenue of $459.0 million, an 11.4% rise.
Strategically, N-able completed the acquisition of Adlumin, enhancing its cybersecurity capabilities with cloud-native XDR and MDR technologies. This acquisition is expected to strengthen N-able’s IT management platform and expand its market reach. The company also made significant hires to bolster its channel strategy, reflecting its commitment to supporting the growing IT services market.
Looking ahead, N-able’s management remains optimistic about 2025, with expectations of achieving over $500 million in ARR and maintaining strong profit margins. The company is focused on scaling its operations and seizing expanding market opportunities, positioning itself for continued success in the evolving cybersecurity landscape.