NYSE$NABL
N-able Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
N-able's Q1 2024 performance was strong, with revenue exceeding guidance and adjusted EBITDA margin outlook raised.
N-able reported a strong start to 2024, exceeding guidance on both revenue and adjusted EBITDA. Total revenue reached $113.7 million, a 14% year-over-year increase. The company raised its full-year constant currency revenue and adjusted EBITDA margin outlooks.
- Total revenue increased by 14% year-over-year to $113.7 million.
- Subscription revenue grew by 14.4% year-over-year to $111.5 million.
- GAAP net income was $7.5 million, or $0.04 per diluted share; non-GAAP net income was $19.8 million, or $0.11 per diluted share.
- Adjusted EBITDA increased by 21% year-over-year to $39.6 million, representing a 34.8% adjusted EBITDA margin.
Headline financials
Revenue & EPS history
N-able · Revenue · Quarterly
$114M
Revenue by segment
N-able · $108M total across 2 segments · Q3 2023
- Subscription Revenue$105M+15.4%97.8%
- Other Revenue$2.36M+1.9%2.2%
Forward guidance
N-able provided financial outlook for the second quarter and full year 2024. For Q2 2024, they expect total revenue between $116.5 to $117.0 million and adjusted EBITDA between $41.0 to $41.5 million. For full year 2024, they expect total revenue between $462.0 to $465.0 million and adjusted EBITDA between $162.0 to $165.0 million.
Tailwinds
- Total revenue in the range of $116.5 to $117.0 million for Q2 2024, representing approximately 10% year-over-year growth, or 10% to 11% growth on a constant currency basis.
- Adjusted EBITDA in the range of $41.0 to $41.5 million for Q2 2024, representing approximately 35% of total revenue.
- Total revenue in the range of $462.0 to $465.0 million for full year 2024, representing approximately 10% year-over-year growth, or 10% to 11% growth on a constant currency basis.
- Adjusted EBITDA in the range of $162.0 to $165.0 million for full year 2024, representing approximately 35% of total revenue.
- Expectations reflect the impact on its business of changing foreign exchange rates and current macroeconomic dynamics.
Headwinds
- Forward-looking non-GAAP financial information excludes items such as amortization of acquired intangible assets and developed technology.
- Depreciation expense is excluded from forward-looking non-GAAP financial information.
- Income tax expense is excluded from forward-looking non-GAAP financial information.
- Interest expense, net, is excluded from forward-looking non-GAAP financial information.
- Unrealized foreign currency (gains) losses are excluded from forward-looking non-GAAP financial information.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.4%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-0.4%
Avg return
30 days after
48%
11 / 23 earnings
Positive
+20.1%
Q3 2022
Best reaction
-28.2%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.2% | -26.6% | -28.4% | |
| Q4 2025 | -10.8% | -15.4% | -5.6% | |
| Q3 2025 | +9.1% | +2.2% | -3.6% | |
| Q1 2025 | +5.2% | +14.7% | +14.0% | |
| Q4 2024 | -28.2% | -26.7% | -25.7% | |
| Q3 2024 | -11.7% | -13.4% | -18.9% | |
| Q2 2024 | -1.4% | -2.9% | -5.4% | |
| Q1 2024 | -0.2% | +0.0% | +11.8% | |
| Q4 2023 | +5.9% | +3.0% | +2.1% | |
| Q3 2023 | -11.6% | -13.8% | -8.0% | |
| Q2 2023 | +1.3% | +0.1% | +0.4% | |
| Q1 2023 | +8.0% | +10.4% | +14.2% | |
| Q4 2022 | +19.5% | +15.4% | +16.8% | |
| Q3 2022 | +20.1% | +19.5% | +15.2% | |
| Q2 2022 | -2.1% | +0.2% | -2.1% | |
| Q1 2022 | +6.1% | +9.2% | +20.2% | |
| Q1 2021 | +6.1% | +9.2% | +20.2% | |
| Q4 2019 | +4.6% | -3.3% | -16.3% | |
| Q4 2021 | +2.3% | +2.4% | -13.9% | |
| Q3 2021 | -3.9% | -4.9% | -12.3% | |
| Q2 2020 | -1.6% | -1.5% | +6.6% | |
| Q2 2021 | -1.6% | -0.4% | +4.9% | |
| Q4 2020 | -1.6% | -0.4% | +4.9% | |
| Q3 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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