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Jun 30, 2022
N-able Q2 2022 Earnings Report
N-able's Q2 2022 results surpassed expectations, driven by multi-product sales approach and strong growth in security and data protection offerings.
Key Takeaways
N-able reported Q2 2022 total revenue of $91.6 million, representing approximately 7% year-over-year growth. GAAP net income was $4.3 million, or $0.02 per diluted share, and non-GAAP net income was $16.0 million, or $0.09 per diluted share. Adjusted EBITDA was $27.6 million, representing an adjusted EBITDA margin of 30.1%.
Total revenue of $91.6 million, approximately 7% year-over-year growth.
Subscription revenue of $89.4 million, approximately 8% year-over-year growth.
GAAP gross margin of 84.5% and non-GAAP gross margin of 85.5%.
Adjusted EBITDA of $27.6 million, representing an adjusted EBITDA margin of 30.1%.
N-able
N-able
N-able Revenue by Segment
Forward Guidance
N-able is providing its financial outlook for the third quarter of 2022 and full year 2022.
Positive Outlook
- Total revenue in the range of $92.5 to $93.0 million for Q3 2022, representing approximately 5% year-over-year growth, or approximately 11% to 12% growth on a constant currency basis.
- Adjusted EBITDA in the range of $26.5 to $27.0 million for Q3 2022, representing approximately 29% of total revenue.
- Total revenue in the range of $370 to $372 million for full year 2022, representing 7% year-over-year growth, or 12% to 13% year-over-year growth on a constant currency basis.
- Adjusted EBITDA in the range of $107.0 to $109.0 million for full year 2022, representing approximately 29% of total revenue.