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Dec 31, 2021
N-able Q4 2021 Earnings Report
N-able reported strong Q4 2021 results, driven by security and data protection solutions and healthy expansion among existing MSP partners.
Key Takeaways
N-able announced its Q4 and Full-Year 2021 results, with subscription revenue increasing 13% year-over-year (14% in constant currency). The company's trailing twelve months dollar-based net retention rate remained consistent at 110%.
Total revenue was $89.5 million, representing approximately 12% year-over-year growth (approximately 13% year-over-year growth on a constant currency basis).
Subscription revenue was $87.3 million, representing approximately 13% year-over-year growth (approximately 14% year-over-year growth on a constant currency basis).
GAAP net income was $2.1 million, or $0.01 per diluted share, and non-GAAP net income was $13.4 million, or $0.07 per diluted share.
Adjusted EBITDA was $27.8 million, representing an adjusted EBITDA margin of 31.0%.
Revenue by Segment
Forward Guidance
N-able provided its financial outlook for the first quarter and full year 2022.
Positive Outlook
- Total revenue in the range of $90.1 to $90.6 million for Q1 2022, representing approximately 9% year-over-year growth, or approximately 11% growth on a constant currency basis.
- Adjusted EBITDA in the range of $26.5 to $27.0 million for Q1 2022, representing approximately 30% of total revenue.
- Total revenue in the range of $384 to $388 million for full year 2022, representing 11% to 12% year-over-year growth, or 13% to 14% year-over-year growth on a constant currency basis.
- Adjusted EBITDA in the range of $118 to $122 million for full year 2022, representing approximately 31% of total revenue.
- Expectations of increased FX headwinds.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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