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Jun 30, 2023
N-able Q2 2023 Earnings Report
Exceeded $100 Million Quarterly Revenue Milestone with Q2 Revenue of $106.1 Million
Key Takeaways
N-able reported a strong second quarter with total revenue of $106.1 million, representing approximately 16% year-over-year growth. GAAP net income was $4.5 million, or $0.02 per diluted share, and non-GAAP net income was $16.3 million, or $0.09 per diluted share. Adjusted EBITDA was $34.9 million, representing an adjusted EBITDA margin of 32.9%.
Total revenue of $106.1 million, representing approximately 16% year-over-year growth.
Subscription revenue of $103.4 million, representing approximately 16% year-over-year growth.
GAAP gross margin of 84.0% and non-GAAP gross margin of 84.8%.
Adjusted EBITDA of $34.9 million, up approximately 26% year-over-year, representing an adjusted EBITDA margin of 32.9%.
Revenue by Segment
Forward Guidance
N-able is providing its financial outlook for the third quarter of 2023 and full-year 2023. For the third quarter, N-able expects total revenue in the range of $106.5 to $107.0 million and adjusted EBITDA in the range of $34.5 to $35.0 million. For the full year 2023, N-able expects total revenue in the range of $419.5 to $421.0 million and adjusted EBITDA in the range of $135.5 to $137.0 million.
Positive Outlook
- Total revenue in the range of $106.5 to $107.0 million for Q3 2023.
- Adjusted EBITDA in the range of $34.5 to $35.0 million for Q3 2023.
- Total revenue in the range of $419.5 to $421.0 million for full year 2023.
- Adjusted EBITDA in the range of $135.5 to $137.0 million for full year 2023.
- Represents approximately 13% year-over-year revenue growth for full year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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