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Intellectia.AI Updated: 1970-01-01
N-able Reports Second Quarter 2024 Financial Results
N-able, Inc. (NYSE:NABL), a global software company, has announced its financial results for the second quarter ended June 30, 2024.
Key Financial Metrics:
| Financial Metric | Q2 2024 (millions) | YoY % Change |
|---|---|---|
| Total Revenue | $119.4 | +12.6% |
| EPS (GAAP) | $0.05 | N/A |
| EPS (Non-GAAP) | $0.14 | N/A |
N-able posted robust results in Q2 2024 with a notable year-over-year rise of 12.6% in total revenue, amounting to $119.4 million. Non-GAAP net income amounted to $26.6 million, or $0.14 per diluted share, showcasing strong operational efficiency and positive market performance.
Revenue Breakdown by Segment:
| Segment | Q2 2024 Revenue (millions) | YoY % Change |
|---|---|---|
| Subscription | $117.4 | +13.6% |
| Total Revenue | $119.4 | +12.6% |
The subscription segment experienced a marked year-over-year growth of 13.6%, contributing significantly to the overall revenue. This reflects consistent demand for N-able's key offerings, including data protection and security solutions.
Comments from Company Officers:
John Pagliuca, President and CEO of N-able, emphasized the growing need for IT solutions among small and medium-sized businesses and managed service providers (MSPs). He highlighted the success of the company’s data protection product, Cove, and its security suite. CFO Tim O’Brien echoed the positive sentiment and reiterated the company’s strong execution focus as they raised their full-year revenue and profit outlook.
Forward Guidance:
N-able has raised its full-year 2024 revenue outlook midpoint to $464.0 million and expects adjusted EBITDA margins around 36%. For Q3 2024, the company projects total revenue between $114.5 million and $115.0 million, with an adjusted EBITDA margin of approximately 35%.
Stock Price Movement:
Following the earnings release, N-able's stock witnessed a marginal movement, with a percentage change of 0.30%.
With robust growth and strategic product alignment, N-able continues to solidify its position within the IT services industry, supporting its partners with innovative and resilient software solutions.
The report has been organized for clarity and conciseness, ensuring it is suitable for investors.
