N-able Earnings Call Transcripts
Fiscal Year 2026
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Q2 saw 6% year-over-year ARR and revenue growth, with strong performance in data protection and security operations, but renewal headwinds in UEM and EDR led to reduced guidance. Organizational changes, new product launches, and a CRO hire aim to drive long-term growth amid evolving AI-driven security needs.
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The meeting covered director elections, auditor ratification, and executive compensation approval, with all proposals passing. Shareholders were invited to participate in a Q&A session following the formal business.
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Q1 2026 saw strong ARR and revenue growth, led by upmarket momentum and AI-driven innovation. Security operations and data protection outpaced company growth, with new offerings like DRaaS and N-zo expected to drive further gains. Guidance for 2026 was raised across key metrics.
Fiscal Year 2025
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Delivered strong 2025 growth with $540M ARR and 30% EBITDA margin, driven by AI innovation, Adlumin integration, and channel expansion. 2026 guidance calls for 8–9% ARR growth, continued margin strength, and increased free cash flow, with AI and new products as key levers.
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Q3 saw 14% ARR growth and strong profitability, with improved retention and major wins in data protection and security operations. AI integration and channel expansion are fueling growth, and full-year guidance was raised for revenue, ARR, and EBITDA.
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Q2 saw ARR surpass $500M with 14% growth and a 32% adjusted EBITDA margin, driven by strong performance in Data Protection, Security Operations, and UEM. Channel expansion and new product capabilities fueled momentum, and full-year guidance was raised across key metrics.
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Revenue and adjusted EBITDA exceeded guidance, with ARR up 11% year-over-year in constant currency. New product launches, expanded channel partnerships, and strong demand for cyber resiliency solutions drove growth, while guidance for revenue and EBITDA was raised for 2025.
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Revised summary: The company is shifting from an MSP model to a multi-channel approach with a cyber resilience platform integrating UEM, cloud-native data protection, and AI-driven security. The Adlumin acquisition targets a $44B TAM, aiming to boost ARR and revenue per device via cross-sell, channel expansion, and pricing, while staying profitable and global.
Fiscal Year 2024
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Achieved 10% year-over-year revenue and ARR growth in 2024, driven by security, data protection, and the Adlumin acquisition. 2025 guidance calls for 4–6% revenue growth and 7–8% ARR growth, with investments in innovation and channel expansion expected to accelerate growth.
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The acquisition integrates XDR and MDR into a unified IT management and security platform, addressing urgent customer demand and expanding sales channels. Financial terms include $100M cash, stock, and earn-outs, with expected ARR growth and cash flow contribution by Q4 2025.
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Q3 revenue grew 8% year-over-year to $116.4 million, led by strong demand in data protection and security, with Cove now the largest recurring revenue product. Adjusted EBITDA margin was 39%. Guidance anticipates continued growth, though estate optimization and pricing headwinds will persist through H1 2025.
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Revenue grew 13% year-over-year to $119.4 million, with security and data protection leading growth. Long-term contracts now represent 40% of revenue, driving predictability but causing near-term headwinds. Full-year guidance was raised for both revenue and Adjusted EBITDA.