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Sep 30, 2024
N-able Q3 2024 Earnings Report
N-able's Q3 2024 performance reflected revenue growth and strong adjusted EBITDA margin.
Key Takeaways
N-able reported total revenue of $116.4 million, an 8.3% year-over-year increase, with subscription revenue reaching $115.0 million, a 9.3% year-over-year increase. GAAP net income was $10.8 million, or $0.06 per diluted share, while non-GAAP net income was $24.3 million, or $0.13 per diluted share. The adjusted EBITDA stood at $44.8 million, representing a 38.5% margin.
Total revenue reached $116.4 million, representing an 8.3% year-over-year growth.
Subscription revenue amounted to $115.0 million, reflecting a 9.3% year-over-year increase.
GAAP net income was reported at $10.8 million, or $0.06 per diluted share.
Adjusted EBITDA was $44.8 million, representing an adjusted EBITDA margin of 38.5%.
N-able
N-able
N-able Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
N-able provided its financial outlook for the fourth quarter and full year 2024, expecting total revenue between $111.5 to $113.0 million for Q4 and between $461.2 to $462.7 million for the full year. Adjusted EBITDA is projected to be in the range of $38.0 to $38.5 million for Q4 and $169.3 to $169.8 million for the full year.
Positive Outlook
- Expected total revenue growth of 3% to 4% year-over-year for Q4 2024.
- Q4 2024 Adjusted EBITDA is expected to be approximately 34% of total revenue.
- Full-year 2024 total revenue is expected to grow by approximately 9% to 10% year-over-year.
- Full-year 2024 Adjusted EBITDA is expected to be approximately 37% of total revenue.
- Company is confident in delivering resiliency and efficiency to customers.
Challenges Ahead
- Uncertainty regarding the potential variability of excluded items in future periods.
- Changing foreign exchange rates could impact business.
- Current macroeconomic dynamics could impact business.
- Potential for reduced information technology spending due to economic conditions.
- Purchasing decisions may be delayed as a result of inflation and rising interest rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income