GICS Sector : Technology
N-able, Inc.provides cloud-based software solutions for managed service providers (MSPs) in the United States, the United Kingdom, and internationally.The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises.
N-able reported a robust fourth quarter and full-year 2025 results, showcasing the company's momentum in the AI-powered cybersecurity platform market. Total revenue for the quarter was $130 million, exceeding the high end of guidance by $3 million and representing a 12% year-over-year growth on a reported basis and 9% on a constant currency basis. For the full year, total revenue reached $511 million, growing 10% year-over-year on a reported basis and 9% on a constant currency basis. Adjusted EBITDA margin remained stable at 30% for both the quarter and the full year, with adjusted EBITDA of $39 million and $153 million, respectively. Non-GAAP earnings per share were $0.06 for the quarter, below estimates of $0.1, and $0.39 for the full year.
Publication Date: Mar -01
The company's Annual Recurring Revenue (ARR) reached $540 million, growing 8% at constant currency, driven by a strong performance in data protection and security operations. The upmarket momentum was pronounced, with customers having over $50,000 of ARR now representing approximately 61% of total ARR. This growth is a testament to N-able's ability to deliver value to its customers, as seen in a recent customer win where the company displaced five separate competitors with a near $300,000 ARR deal.
N-able is leveraging AI to enhance its cybersecurity platform, embedding it across its solutions to reduce risk and improve customer efficiency. The company plans to further invest in AI within its security operations solution and introduce a new cyber warranty program to derisk adoption and bolster customer confidence. The roadmap includes the launch of Disaster Recovery as a Service in mid-2026, which will leverage AI to drive experience for MSPs and their clients.
With a P/S Ratio of 1.61 and an EV/EBITDA of 14.2, the market seems to have priced in N-able's growth prospects. Analysts estimate revenue growth at 8.5% for the next year, which is in line with the company's guidance of 8% to 9% year-over-year growth for 2026. The company's strong balance sheet, with $112 million in cash and a refinanced credit facility, provides flexibility for capital allocation, including M&A and share buybacks. As N-able continues to innovate and expand its AI-infused offerings, its ability to balance topline growth with EBITDA margin expansion will be crucial in driving long-term value for shareholders.
N-able, Inc. (NYSE:NABL) Given Consensus Rating of “Hold” by Analysts
Mar -22
N-able Announces Partnership with Manchester City as Official Cybersecurity Partner
Mar -19
Identity-Based Attacks Are Now Targeting Backup Policies. New Anomaly Detection Feature from N-able Closes That Window
Feb -26
GCT vs. NABL: Which Technology Services Stock is Better-Placed Now?
Feb -24
New N-able and Futurum Report Reveals How AI Is Reshaping Cyber Resilience
Feb -24
N-able (NYSE:NABL) Hits New 52-Week Low on Analyst Downgrade
Feb -24
N-able, Inc. (NABL) Q4 2025 Earnings Call Transcript
Feb -19
N-able (NABL) Q4 Earnings Miss Estimates
Feb -19
N-able's subscription growth is driven by increasing demand for remote monitoring and management (RMM) and managed service provider (MSP) solutions, fueled by the rise of cloud computing, IoT, and cybersecurity threats. Additionally, the company's strategic acquisitions, expanded product offerings, and strong channel partnerships contribute to its growth momentum.
N-able's 12% growth is driven by increasing adoption of cloud-based IT management solutions, expansion into new markets, and strategic partnerships. The rising demand for remote monitoring and management (RMM) tools, coupled with the growing need for MSPs to streamline their operations, also contributes to this growth.
A comprehensive IT management platform that enables MSPs to monitor, manage, and troubleshoot IT systems remotely.
A powerful IT management platform that provides automation, monitoring, and management capabilities for MSPs.
A comprehensive backup and recovery solution that enables MSPs to protect their clients' data and ensure business continuity.
A security solution that provides real-time threat detection, incident response, and remediation capabilities.
A cloud-based RMM platform that provides real-time monitoring, automation, and management capabilities for MSPs.
N-able, Inc. faces moderate threat from substitutes due to the availability of alternative solutions for IT management and monitoring.
N-able, Inc. has a diverse customer base, which reduces the bargaining power of individual customers, giving the company an upper hand in negotiations.
N-able, Inc. relies on a few key suppliers for its technology and infrastructure, giving them some bargaining power, but the company's size and reputation mitigate this risk.
The IT management and monitoring industry is highly competitive, and new entrants can easily disrupt the market with innovative solutions, posing a significant threat to N-able, Inc.'s market share.
The IT management and monitoring industry is highly competitive, with many established players and new entrants vying for market share, leading to intense rivalry among companies like N-able, Inc.
| Value | |
|---|---|
| Debt Weight | 32.43% |
| Debt Cost | 5.95% |
| Equity Weight | 67.57% |
| Equity Cost | 5.95% |
| WACC | 5.95% |
| Leverage | 48.00% |
Value: 2.5
Growth: 7.9
Quality: 6.9
Yield: 0.0
Momentum: 4.0
Volatility: 8.3
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