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Dec 31, 2025
N-able Q4 2025 Earnings Report
N-able reported strong fourth quarter 2025 results, with total revenue increasing by 11.8% year-over-year and adjusted EBITDA reaching $38.6 million.
Key Takeaways
N-able, Inc. announced robust financial results for the fourth quarter ended December 31, 2025, with total revenue of $130.3 million, an 11.8% increase year-over-year. Subscription revenue also saw significant growth at 12.1%. The company achieved an adjusted EBITDA of $38.6 million, representing a 29.6% margin, and reported a GAAP net loss of $7.2 million.
Total revenue for Q4 2025 was $130.3 million, an 11.8% increase year-over-year.
Subscription revenue grew by 12.1% year-over-year to $129.0 million.
Adjusted EBITDA reached $38.6 million, with an adjusted EBITDA margin of 29.6%.
GAAP net loss for the quarter was $7.2 million, or $0.04 per diluted share.
Revenue by Segment
Forward Guidance
N-able provided a positive financial outlook for the first quarter and full-year 2026, anticipating continued revenue growth and strong adjusted EBITDA margins, driven by investments in AI innovation and go-to-market expansion.
Positive Outlook
- Q1 2026 Total revenue expected between $131 million and $132 million, representing 11% to 12% year-over-year growth.
- Q1 2026 Adjusted EBITDA expected between $35.5 million and $36.5 million, representing 27% to 28% of total revenue.
- Full-Year 2026 Total ARR expected between $581 million and $586 million, representing 8% to 9% year-over-year growth.
- Full-Year 2026 Total revenue expected between $554 million and $559 million, representing 8% to 9% year-over-year growth.
- Full-Year 2026 Adjusted EBITDA expected between $167 million and $171 million, representing 30% to 31% of total revenue.
Challenges Ahead
- Uncertainty regarding excluded items for non-GAAP measures, making reconciliation to GAAP difficult without unreasonable effort.
- Potential variability of excluded items could materially impact GAAP results in future periods.
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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