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N-able, Inc. provides unified endpoint management, security operations, and data protection solutions worldwide. The company's solutions enable IT service providers and organizations to drive digital transformation and keep their businesses secure. It also offers a software platform designed to be an integrated enterprise-grade solution that serves as an operating system. In addition, the company offers remote monitoring and management solutions that provide visibility and insights into the availability and performance of their customers' networks, infrastructure, devices, and applications through a centralized dashboard; and data protection as-a-service solutions, such as backup and disaster recovery for servers, virtual machines, workstations, files, data, and key cloud-based applications, as well as multi-tenant platform and secure remote delivery architecture. Further, it offers security services through endpoint security, managed detection and response, extended detection and response, web protection, e-mail security, and archiving solutions. Additionally, the company engages in the professional services automation, automation and scripting management, password management policies, and reporting and analytics activities. The company was incorporated in 2020 and is headquartered in Burlington, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $511M | $82M | $-17M | $64M | -2.1% | 9.7% | -155.0% |
| 2024 | $466M | $110M | $31M | $56M | 4.1% | 10.5% | 32.2% |
| 2023 | $422M | $96M | $23M | $68M | 3.3% | 13.5% | 40.1% |
| 2022 | $372M | $74M | $17M | $50M | 2.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 371.77 | 421.88 | 466.15 | 511.43 |
| Cost Of Revenue | 58.61 | 68.21 | 80.68 | 117.05 |
| Gross Profit | 313.16 | 353.67 | 385.47 | 394.38 |
| Operating Expense | 265.76 | 283.35 | 303.10 | 357.59 |
| Operating Income | 47.40 | 70.32 | 82.37 | 36.79 |
| EBITDA | 73.72 | 96.20 | 110.03 | 82.44 |
| EBIT | 49.28 | 74.58 | 84.30 | 38.39 |
| Pretax Income | 30.42 | 44.33 | 54.27 | 2.39 |
| Tax Provision | 13.72 | 20.91 | 23.31 | 19.42 |
| Net Income | 16.71 | 23.41 | 30.96 | -17.03 |
| Net Income Common Stockholders | 16.71 | 23.41 | 30.96 | -17.03 |
| Total Expenses | 324.37 | 351.56 | 383.78 | 474.64 |
| Interest Expense | 18.85 | 30.25 | 30.03 | 36 |
| Research And Development | 63.48 | 78.18 | 90.71 | 100.71 |
| Selling General And Administration | 196.43 | 204.58 | 212.11 | 254.88 |
| Normalized EBITDA | 73.72 | 96.20 | 110.03 | 82.44 |
| Normalized Income | 16.71 | 23.41 | 30.96 | -17.03 |
| Market Cap | 975.80 | 975.80 | 975.80 | 975.80 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| N-able, Inc.this co. | NABL | - | -57.29 | 1.21 | -2.1% | 15.70 |
| KULR Technology Group, Inc. | KULR | $111M | - | 0.91 | -50.9% | -2.45 |
| Expensify, Inc. | EXFY | $106M | - | 0.74 | -16.1% | -2.34 |
| SunPower Inc. | SPWR | $105M | - | -1.02 | 50.3% | -16.16 |
| CSP Inc. | CSPI | $103M | - | 2.29 | -0.2% |
| -30.63 |
| SoundThinking, Inc. | SSTI | $89M | - | 1.22 | -13.1% | 45.14 |
| Airship AI Holdings, Inc. | AISP | $76M | 2.91 | -10.63 | -410.1% | -9.02 |
| Neonode Inc. | NEON | $26M | 3.27 | 1.07 | 34.4% | -0.11 |
| zSpace, Inc. | ZSPC | $1M | - | -0.34 | 112.8% | -0.78 |
| Peer Median | - | 3.09 | 0.82 | -6.6% | -2.40 | |