NYSE$NABL

N-able Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

N-able exceeded both revenue growth and adjusted EBITDA outlook for the fourth quarter and full-year 2022.

N-able reported strong financial results for Q4 2022, with total revenue of $95.8 million, representing approximately 7% year-over-year growth, and an adjusted EBITDA of $31.2 million, representing an adjusted EBITDA margin of 32.6%.

  • Total revenue of $95.8 million, representing approximately 7% year-over-year growth.
  • Subscription revenue of $93.4 million, representing approximately 7% year-over-year growth.
  • GAAP gross margin of 84.3% and non-GAAP gross margin of 85.0%.
  • Adjusted EBITDA of $31.2 million, representing an adjusted EBITDA margin of 32.6%.

Headline financials

Total Revenue

$95.8M

Previous: $89.5M+7.0%
EPS (adj)

$0.10

Previous: $0.07+42.9%
GAAP Gross Margin

84.3%

Previous: 85.1%-0.9%
Non-GAAP Gross Margin

85.0%

Previous: 86.6%-1.8%
Adjusted EBITDA

$31.2M

Previous: $27.8M+12.3%
Adjusted EBITDA Margin

32.6%

Previous: 31.0%+5.2%
Capital Expenditures

$3.14M

Previous: $11.3M-72.1%
Free Cash Flow

$15.3M

Previous: $7.93M+92.4%
Net Income

$7M

Previous: $2.06M+240.5%
Operating Income

$14.3M

Previous: $8.5M+68.4%
Gross Profit

$80.7M

Previous: $76.2M+5.9%
Cash & Equivalents

$98.8M

Previous: $66.7M+48.1%
Total Assets

$1.08B

Previous: $1.06B+2.2%
Stock-Based Comp

$8.45M

Previous: $8.47M-0.2%

Revenue & EPS history

N-able · Revenue · Quarterly

$95.8M

Q4 2022+7%vs Q4 2021
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

N-able · $95.8M total across 2 segments · Q4 2022

  • Subscription Revenue
    $93.4M+7.0%
  • Other Revenue
    $2.36M

Forward guidance

N-able provided its financial outlook for the first quarter of 2023 and full-year 2023.

Tailwinds

  • Total revenue in the range of $97.5 to $98.0 million for Q1 2023, representing approximately 7% to 8% year-over-year growth.
  • Adjusted EBITDA in the range of $29.0 to $29.5 million for Q1 2023, representing approximately 30% of total revenue.
  • Total revenue in the range of $408 to $412 million for full-year 2023, representing 10% to 11% year-over-year growth.
  • Adjusted EBITDA in the range of $122 to $126 million for full-year 2023, representing approximately 30% to 31% of total revenue.

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 Q4 2022

Historical avgQ4 2022

+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

Earnings price reactions
QuarterReport dateReaction (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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