NYSE$NABL
N-able Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
N-able's Q4 2023 performance was strong, exceeding expectations and capping a successful year with double-digit revenue growth and adjusted EBITDA margin expansion.
N-able reported strong Q4 2023 results with total revenue of $108.4 million, representing 13.2% year-over-year growth. The company's GAAP net income was $9.4 million, or $0.05 per diluted share, and non-GAAP net income was $19.8 million, or $0.11 per diluted share. Adjusted EBITDA was $39.2 million, representing an adjusted EBITDA margin of 36.2%.
- Total revenue reached $108.4 million, a 13.2% increase year-over-year.
- Subscription revenue was $106.1 million, growing 13.6% year-over-year.
- GAAP gross margin was 83.7%, and non-GAAP gross margin was 84.5%.
- Adjusted EBITDA was $39.2 million, with a margin of 36.2%.
Headline financials
Revenue & EPS history
N-able · Revenue · Quarterly
$108M
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 Q1 2024 and full-year 2024. For Q1 2024, the company expects total revenue in the range of $111.0 to $111.5 million and adjusted EBITDA in the range of $37.5 to $38.0 million. For full-year 2024, the company expects total revenue in the range of $460.0 to $465.0 million and adjusted EBITDA in the range of $158.0 to $162.0 million.
Tailwinds
- Expected total revenue growth of approximately 11% to 12% year-over-year for Q1 2024.
- Q1 2024 Adjusted EBITDA is expected to be approximately 34% of total revenue.
- Full-year 2024 revenue is projected to grow by approximately 9% to 10% year-over-year.
- Full-year 2024 Adjusted EBITDA is expected to be between 34% and 35% of total revenue.
- The financial outlook reflects N-able's expectations regarding foreign exchange rates and current macroeconomic dynamics.
Headwinds
- The financial outlook is based on forward-looking non-GAAP financial information.
- Reconciliation of non-GAAP financial measures to GAAP measures is not available without unreasonable effort due to uncertainty regarding excluded items.
- The excluded items in the non-GAAP measures could be material to GAAP results in future periods.
- The outlook is subject to risks and uncertainties, including macroeconomic conditions and foreign exchange rates.
- The forward-looking statements are based on management's beliefs and assumptions and on information currently available to management.
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 2023
+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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