N-able Inc
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +2.86%.
Did NABL Beat Earnings? Q2 2025 Results
N-able posted a strong second quarter, topping Wall Street estimates on both revenue and earnings as its cybersecurity-focused platform gained traction with managed service providers. The company reported non-GAAP EPS of $0.11, clearing the $0.09 consensus by 25.00%, while revenue rose 9.9% year-over-year to $131.25 million against expectations of $125.87 million. The most material driver was ARR crossing the $500 million threshold, with total annualized recurring revenue reaching $513.70 million, up 14.5% year-over-year, buoyed in part by a deliberate shift toward annual and multi-year contracts that has already moved 40% of revenue into long-term committed agreements. Subscription revenue of $129.87 million grew 10.6%, underscoring the durability of N-able's recurring model, even as higher sales, marketing, and R&D investment weighed on GAAP profitability. Looking ahead, management raised its full-year ARR outlook to $525 million to $530 million and guided full-year revenue to $500 million to $503 million, reflecting continued confidence in its cyber-resilience positioning for SMB and mid-market customers.
- Surpassed $500M ARR milestone with 14.5% year-over-year growth
- Subscription revenue grew 10.6% year-over-year
- Exceeded top-and-bottom-line guidance for the quarter
- Continued expansion into the cybersecurity channel
“We delivered solid results this quarter as we executed against our mission to protect businesses from evolving cyberthreats. AI is turbocharging complexity and risk, and our cyber-resiliency platform is designed to provide the comprehensive protection needed in today's landscape. We believe this quarter's progress - highlighted by the continued development of our security suite and further expansion into the channel - strengthens our standing as a cybersecurity vendor of choice.”
N-able CEO, on the earnings call
Forward Guidance & Outlook
For Q3 2025, N-able expects total revenue of $127 million to $128 million (approximately 9%-10% YoY growth on reported and constant currency basis) and adjusted EBITDA of $36 million to $37 million (approximately 28%-29% of total revenue). For full-year 2025, the company raised its ARR outlook to $525 million to $530 million (9%-10% YoY growth, approximately 7%-9% on constant currency basis), expects total revenue of $500 million to $503 million (approximately 7%-8% YoY growth on reported and constant currency basis), and adjusted EBITDA of $141 million to $144 million (approximately 28%-29% of total revenue).
NABL YoY Financials
NABL Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.