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N-able
(NYSE:NABL)
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Rating:54Neutral
Price Target:
$3.50
▼(-19.35% Downside)
Action:Reiterated
Date:08/11/26
The score reflects mixed fundamentals: acceptable balance-sheet positioning and still-positive cash generation are offset by recent revenue and profitability deterioration. The stock’s technical picture is notably bearish (price far below key moving averages), and valuation is constrained by losses (negative P/E). The earnings call adds some support via margin/FCF guidance and ARR/data-protection momentum, but near-term renewal and competitive pressures keep the outlook cautious.
Positive Factors
Recurring Revenue and Customer Scale
A large installed base and recurring subscription model support revenue visibility. ARR growth and broad exposure across MSP-managed businesses provide a durable foundation for cross-selling security, backup, and IT management products.
Negative Factors
Revenue and Profitability Deterioration
The sharp TTM revenue decline and swing to losses weaken confidence in the current earnings base. Although gross margins remain high, lower operating leverage and cost absorption could constrain sustainable profitability until growth stabilizes.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Revenue and Customer Scale
A large installed base and recurring subscription model support revenue visibility. ARR growth and broad exposure across MSP-managed businesses provide a durable foundation for cross-selling security, backup, and IT management products.
Read all positive factors
N-able Key Performance Indicators (KPIs)
Any
Revenue by Type
Categorizes revenue based on different streams, such as product sales or services, highlighting the diversity of income sources and potential areas of growth or risk.
Categorizes revenue based on different streams, such as product sales or services, highlighting the diversity of income sources and potential areas of growth or risk.
Data provided by:
The Fly
The FlyN-able (NABL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$680.06M
Dividend YieldN/A
Average Volume (3M)2.06M
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue Growth10.44%
EPS Growth-276.69%
CountryUS
Employees1,978
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-0.02
Shares Outstanding188,906,050
10 Day Avg. Volume1,867,677
30 Day Avg. Volume2,063,690
Financial Highlights & Ratios
PEG Ratio0.54
Price to Book (P/B)1.75
Price to Sales (P/S)2.75
P/FCF Ratio18.72
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$3.85Price Target Upside-11.29% Downside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)0.42
Revenue Forecast (FY)$540.84M
N-able Business Overview & Revenue Model
Company Description
N-able, Inc. furnishes cloud-powered software offerings specifically for managed service providers (MSPs) across the United States, the United Kingdom, and globally. These solutions are crafted to enable MSPs to facilitate digital modernization an...
How the Company Makes Money
N-able makes money primarily by selling its software to MSPs under subscription-based arrangements. Revenue is largely recurring and is generated from fees for access to its cloud software platforms (e.g., remote monitoring and management, data pr...
N-able Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call highlights solid underlying fundamentals: recurring ARR growth (6% YoY), strong profitability (29% adjusted EBITDA margin), robust cash generation, accelerating data protection momentum (DRaaS launch and >$200M ARR), meaningful AI-driven productivity gains, and clear product and go-to-market initiatives (new CRO, FedRAMP EDR, Google Workspace backup). However, near-term headwinds are material: weaker-than-expected renewal rates in a large Q2 cohort (primarily UEM and EDR), pricing pressure and competitive displacement in EDR, FX and a small Q1 revenue revision, and an organizational transition that will cause short-term execution variability and a ~6% workforce reduction with restructuring costs. Management has concrete remediation plans (renewal motion improvements, SentinelOne SKU agreement, product launches and cost realignment) and expects improvement into 2027, but the company explicitly revised guidance to reflect these near-term pressures.Positive Updates
ARR and Revenue Growth
Second quarter ARR of $544M, up 6% year-over-year (constant currency). Total revenue $138M, ~6% YoY growth (5% constant currency). Subscription revenue $137M, ~6% YoY.
Negative Updates
Updated Guidance and Near-Term Top-Line Pressure
Management updated 2026 top-line guidance downward citing go-to-market leadership transition and shifting UEM/EDR dynamics. Full-year revenue outlook $539M–$542M (~6%–7% YoY) and ARR guidance $562M–$565M (4%–5% YoY) that reflect near-term pressure versus prior ambitions.
Read all updates
Q2-2026 Updates
Positive
Negative
ARR and Revenue Growth
Second quarter ARR of $544M, up 6% year-over-year (constant currency). Total revenue $138M, ~6% YoY growth (5% constant currency). Subscription revenue $137M, ~6% YoY.
Read all positive updates
Company Guidance
N‑able updated 2026 guidance and near‑term outlook with specific targets: Q3 revenue of $134.5–135.5M (≈3% y/y reported, 3–4% constant‑currency) and Q3 adjusted EBITDA of $41–42M (≈30–31% margin); full‑year revenue $539–542M (≈6–7% y/y reported, 5% constant), ARR $562–565M (4–5% y/y reported, 5% constant), full‑year adjusted EBITDA $158–161M (≈29–30% margin) and unlevered free cash flow $116–120M, with CapEx expected at ~6% of revenue for 2026. The company reported Q2 ARR $544M (+6% y/y), Q2 revenue $138M (+6% reported, +5% constant), Q2 adjusted EBITDA $40M (29% margin), Q2 unlevered FCF $23M and Q2 CapEx $13M (9% of revenue, including $3M capitalized software). Balance sheet and other assumptions: cash ≈$116M, outstanding loan principal ≈$398M (net leverage ≈1.8x), added delayed‑draw term loan up to $75M, remaining share repurchase authorization $45M, expected cash interest ≈$27M, weighted average diluted shares Q3 189–192M (FY 188–192M), non‑GAAP tax rate 25–26%, and Q2 non‑GAAP EPS $0.10 on 189M shares. Guidance reflects FX assumptions (€1.13, £1.33) (driving ~ $2.5M revenue and ~$5M ARR headwinds versus prior guide), a $1.3M revision to Q1 revenue, an approximate 6% headcount reduction to save ~$11–13M of annualized operating expense (with estimated $4–6M of H2 restructuring charges), and continued focus on UEM/EDR renewal dynamics and new product tails (DRaaS, Google Workspace backup, incident response, FedRAMP EDR).N-able Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
72
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 533.88M | 511.43M | 466.15M | 421.88M | 371.77M | 346.46M |
| Gross Profit | 412.72M | 392.85M | 385.47M | 353.67M | 313.16M | 294.02M |
| EBITDA | 68.30M | 82.44M | 110.03M | 94.65M | 72.55M | 65.09M |
| Net Income | -4.70M | -17.03M | 30.96M | 23.41M | 16.71M | 113.00K |
Balance Sheet | ||||||
| Total Assets | 1.40B | 1.41B | 1.34B | 1.16B | 1.08B | 1.06B |
| Cash, Cash Equivalents and Short-Term Investments | 115.81M | 111.84M | 85.20M | 153.05M | 98.85M | 66.74M |
| Total Debt | 436.52M | 459.64M | 369.19M | 374.52M | 375.87M | 381.53M |
| Total Liabilities | 590.90M | 605.25M | 579.56M | 451.43M | 436.79M | 437.34M |
| Stockholders Equity | 804.63M | 804.65M | 759.29M | 711.36M | 642.07M | 618.36M |
Cash Flow | ||||||
| Free Cash Flow | 70.77M | 75.06M | 55.71M | 67.75M | 50.40M | 10.51M |
| Operating Cash Flow | 93.32M | 93.20M | 79.44M | 90.09M | 71.41M | 45.34M |
| Investing Cash Flow | -33.13M | -28.96M | -122.42M | -22.34M | -30.21M | -34.83M |
| Financing Cash Flow | -34.08M | -40.63M | -22.59M | -15.17M | -10.40M | -42.32M |
N-able Technical Analysis
Negative
4.34
Price Trends
3.98
Negative
4.16
Negative
5.24
Negative
Market Momentum
-0.20
Positive
47.40
Neutral
85.73
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NABL, the sentiment is Negative. The current price of 4.34 is above the 20-day moving average (MA) of 4.00, above the 50-day MA of 3.98, and below the 200-day MA of 5.24, indicating a bearish trend. The MACD of -0.20 indicates Positive momentum. The RSI at 47.40 is Neutral, neither overbought nor oversold. The STOCH value of 85.73 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NABL.
N-able Risk Analysis
N-able disclosed 31 risk factors in its most recent earnings report. N-able reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
N-able Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.36B | 71.85 | 4.08% | ― | 32.21% | 441.25% | |
65 Neutral | $717.91M | 6.58 | 24.65% | ― | 11.38% | 69.06% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $1.10B | 19.59 | 6.69% | ― | -5.34% | ― | |
54 Neutral | $680.06M | -146.34 | -0.58% | ― | 10.44% | -276.69% | |
49 Neutral | $1.47B | -18.06 | -12.34% | ― | -13.72% | 87.44% | |
45 Neutral | $1.57B | -3.02 | -63.91% | ― | -35.67% | -49.96% |
* Technology Sector Average
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N-able Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
N-able Announces Workforce Reorganization to Streamline Operations
Neutral
Aug 10, 2026
On July 20, 2026, N-able approved a global workforce reorganization that will cut approximately 6% of its employees, incurring an estimated one-time charge of $4 million to $6 million, primarily for severance and related benefits. The move is inte...
Business Operations and StrategyExecutive/Board Changes
N-able Appoints New Chief Revenue Officer to Drive Growth
Positive
Jul 13, 2026
On July 13, 2026, N-able appointed Russell Rosa as Chief Revenue Officer, with immediate effect, placing him in charge of the company’s global sales organization, channel and partner ecosystem, support, and sales operations. By consolidating...
Business Operations and StrategyPrivate Placements and Financing
N-able Adds New Delayed Draw Term Loan Facility
Positive
Jun 17, 2026
On June 16, 2026, N-able’s indirect wholly owned subsidiary N-able International Holdings II, LLC entered into a Third Amendment to its existing Credit Agreement with JPMorgan Chase Bank and other lenders, adding a delayed draw term loan fac...
Executive/Board ChangesShareholder Meetings
N-able Stockholders Reinforce Board, Governance and Oversight
Positive
Jun 2, 2026
At its annual meeting of stockholders held on May 28, 2026, N-able stockholders elected three Class II directors — Michael Bingle, Darryl Lewis, and James Cameron McMartin — to three-year terms expiring at the 2029 annual meeting. The ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.