This page shows N-Able Inc (NABL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
N-Able Inc has an operating margin of 7.2%, meaning the company retains $7 of operating profit per $100 of revenue. This results in a moderate score of 38/100, indicating healthy but not exceptional operating efficiency. This is down from 17.7% the prior year.
N-Able Inc's revenue grew 9.7% year-over-year to $511.4M, a solid pace of expansion. This earns a growth score of 50/100.
N-Able Inc carries a low D/E ratio of 0.48, meaning only $0.48 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.
N-Able Inc's current ratio of 1.19 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 19/100, which could limit financial flexibility.
N-Able Inc has a free cash flow margin of 14.7%, earning a moderate score of 62/100. The company generates positive cash flow after capital investments, but with room for improvement.
N-Able Inc generates a -2.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 6/100. This is down from 4.1% the prior year.
N-Able Inc scores 1.44, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($915.5M) relative to total liabilities ($605.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
N-Able Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, N-Able Inc generates $-5.47 in operating cash flow ($93.2M OCF vs -$17.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
N-Able Inc generated $511.4M in revenue in fiscal year 2025. This represents an increase of 9.7% from the prior year.
N-Able Inc's EBITDA was $80.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 25.2% from the prior year.
N-Able Inc reported -$17.0M in net income in fiscal year 2025. This represents a decrease of 155.0% from the prior year.
N-Able Inc earned $-0.09 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 156.3% from the prior year.
Cash & Balance Sheet
N-Able Inc generated $75.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 21.3% from the prior year.
N-Able Inc held $111.8M in cash against $389.9M in long-term debt as of fiscal year 2025.
N-Able Inc had 187M shares outstanding in fiscal year 2025. This represents a decrease of 0.5% from the prior year.
Margins & Returns
N-Able Inc's gross margin was 77.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.6 percentage points from the prior year.
N-Able Inc's operating margin was 7.2% in fiscal year 2025, reflecting core business profitability. This is down 10.5 percentage points from the prior year.
N-Able Inc's net profit margin was -3.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 10.0 percentage points from the prior year.
N-Able Inc's ROE was -2.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 6.2 percentage points from the prior year.
Capital Allocation
N-Able Inc invested $100.7M in research and development in fiscal year 2025. This represents an increase of 11.0% from the prior year.
N-Able Inc spent $30.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
N-Able Inc invested $18.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 3.2% from the prior year.
NABL Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $130.3M-1.1% | $131.7M+0.4% | $131.2M+11.0% | $118.2M+1.4% | $116.5M+0.1% | $116.4M-2.5% | $119.4M+5.0% | $113.7M |
| Cost of Revenue | $31.0M+4.7% | $29.6M+3.3% | $28.7M+3.7% | $27.7M+18.7% | $23.3M+17.2% | $19.9M+3.8% | $19.2M+4.7% | $18.3M |
| Gross Profit | $99.2M-2.8% | $102.1M-0.5% | $102.6M+13.3% | $90.5M-2.9% | $93.2M-3.5% | $96.5M-3.7% | $100.3M+5.1% | $95.5M |
| R&D Expenses | $25.3M+0.5% | $25.2M-4.4% | $26.3M+10.3% | $23.9M+2.7% | $23.2M+1.1% | $23.0M+2.7% | $22.4M+1.4% | $22.1M |
| SG&A Expenses | $20.3M-16.5% | $24.3M+4.6% | $23.2M-2.8% | $23.9M+25.3% | $19.1M+10.1% | $17.3M-24.8% | $23.0M+35.2% | $17.0M |
| Operating Income | $13.2M+14.2% | $11.6M+14.6% | $10.1M+454.9% | $1.8M-88.6% | $16.0M-33.1% | $23.9M+8.8% | $22.0M+7.3% | $20.5M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $4.5M-28.8% | $6.4M+22.7% | $5.2M+57.6% | $3.3M-10.0% | $3.7M-53.5% | $7.9M+30.1% | $6.1M+6.3% | $5.7M |
| Net Income | -$7.2M-622.8% | $1.4M+134.4% | -$4.0M+43.8% | -$7.2M-317.7% | $3.3M-69.4% | $10.8M+13.8% | $9.5M+26.8% | $7.5M |
| EPS (Diluted) | N/A | $0.01+150.0% | $-0.02+50.0% | $-0.04 | N/A | $0.06+20.0% | $0.05+25.0% | $0.04 |
NABL Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B+0.8% | $1.4B+0.9% | $1.4B+2.5% | $1.4B+1.0% | $1.3B+9.4% | $1.2B+4.2% | $1.2B+2.2% | $1.1B |
| Current Assets | $216.4M+8.0% | $200.3M+7.3% | $186.7M+1.6% | $183.8M-0.1% | $183.9M-34.8% | $282.3M+11.9% | $252.2M+13.5% | $222.3M |
| Cash & Equivalents | $111.8M+10.3% | $101.4M+8.1% | $93.9M-0.2% | $94.1M+10.4% | $85.2M-51.2% | $174.4M+10.8% | $157.5M+13.1% | $139.2M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $50.3M+12.0% | $44.9M-5.4% | $47.5M+6.6% | $44.6M-0.7% | $44.9M+13.3% | $39.6M+6.5% | $37.2M-6.4% | $39.8M |
| Goodwill | $1.0B0.0% | $1.0B+0.1% | $1.0B+3.2% | $991.4M+1.5% | $977.0M+15.8% | $843.9M+2.0% | $827.0M-0.3% | $829.8M |
| Total Liabilities | $605.3M+3.5% | $584.7M+1.4% | $576.6M-0.1% | $577.0M-0.4% | $579.6M+26.4% | $458.5M+1.8% | $450.3M+2.1% | $440.9M |
| Current Liabilities | $181.8M+14.8% | $158.4M+4.8% | $151.1M-1.7% | $153.7M+2.4% | $150.1M+60.1% | $93.8M+10.4% | $85.0M+15.2% | $73.8M |
| Long-Term Debt | $389.9M+18.8% | $328.2M-0.1% | $328.6M-0.1% | $329.1M-0.1% | $329.6M-0.1% | $330.1M-0.1% | $330.6M-0.1% | $331.0M |
| Total Equity | $804.7M-1.1% | $813.4M+0.5% | $809.4M+4.4% | $775.1M+2.1% | $759.3M-0.7% | $765.0M+5.6% | $724.4M+2.2% | $709.1M |
| Retained Earnings | $54.2M-11.8% | $61.4M+2.3% | $60.0M-6.3% | $64.0M-10.1% | $71.2M+4.8% | $67.9M+18.8% | $57.2M+19.8% | $47.7M |
NABL Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $25.3M+5.6% | $24.0M-0.8% | $24.2M+22.9% | $19.7M-24.3% | $26.0M+18.2% | $22.0M-19.4% | $27.3M+552.0% | $4.2M |
| Capital Expenditures | $4.5M-31.9% | $6.6M+73.7% | $3.8M+15.2% | $3.3M-54.0% | $7.2M+91.2% | $3.7M+15.4% | $3.2M-5.7% | $3.4M |
| Free Cash Flow | $20.9M+19.7% | $17.4M-14.6% | $20.4M+24.5% | $16.4M-13.0% | $18.8M+3.2% | $18.2M-24.1% | $24.0M+3122.0% | $746K |
| Investing Cash Flow | -$7.0M+26.2% | -$9.4M-45.0% | -$6.5M-6.9% | -$6.1M+94.3% | -$106.8M-1910.4% | -$5.3M-3.3% | -$5.1M-0.4% | -$5.1M |
| Financing Cash Flow | -$3.5M+69.8% | -$11.6M+36.8% | -$18.3M-150.9% | -$7.3M-127.9% | -$3.2M-27.2% | -$2.5M+49.3% | -$5.0M+58.3% | -$11.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $10.0M+0.4% | $10.0M | N/A | N/A | $0 | $0 | N/A | N/A |
NABL Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.2%-1.3pp | 77.5%-0.6pp | 78.1%+1.6pp | 76.6%-3.4pp | 80.0%-2.9pp | 82.9%-1.1pp | 84.0%+0.1pp | 83.9% |
| Operating Margin | 10.2%+1.4pp | 8.8%+1.1pp | 7.7%+6.2pp | 1.5%-12.2pp | 13.7%-6.8pp | 20.5%+2.1pp | 18.4%+0.4pp | 18.0% |
| Net Margin | -5.5%-6.6pp | 1.1%+4.1pp | -3.1%+3.0pp | -6.1%-8.9pp | 2.8%-6.4pp | 9.2%+1.3pp | 7.9%+1.4pp | 6.6% |
| Return on Equity | -0.9%-1.1pp | 0.2%+0.7pp | -0.5%+0.4pp | -0.9%-1.4pp | 0.4%-1.0pp | 1.4%+0.1pp | 1.3%+0.3pp | 1.1% |
| Return on Assets | -0.5%-0.6pp | 0.1%+0.4pp | -0.3%+0.2pp | -0.5%-0.8pp | 0.3%-0.6pp | 0.9%+0.1pp | 0.8%+0.2pp | 0.7% |
| Current Ratio | 1.19-0.1 | 1.27+0.0 | 1.24+0.0 | 1.20-0.0 | 1.23-1.8 | 3.01+0.0 | 2.97-0.0 | 3.01 |
| Debt-to-Equity | 0.48+0.1 | 0.400.0 | 0.41-0.0 | 0.420.0 | 0.430.0 | 0.43-0.0 | 0.46-0.0 | 0.47 |
| FCF Margin | 16.0%+2.8pp | 13.2%-2.3pp | 15.5%+1.7pp | 13.9%-2.3pp | 16.2%+0.5pp | 15.7%-4.4pp | 20.1%+19.5pp | 0.7% |
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Frequently Asked Questions
What is N-Able Inc's annual revenue?
N-Able Inc (NABL) reported $511.4M in total revenue for fiscal year 2025. This represents a 9.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is N-Able Inc's revenue growing?
N-Able Inc (NABL) revenue grew by 9.7% year-over-year, from $466.1M to $511.4M in fiscal year 2025.
Is N-Able Inc profitable?
No, N-Able Inc (NABL) reported a net income of -$17.0M in fiscal year 2025, with a net profit margin of -3.3%.
What is N-Able Inc's EBITDA?
N-Able Inc (NABL) had EBITDA of $80.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does N-Able Inc have?
As of fiscal year 2025, N-Able Inc (NABL) had $111.8M in cash and equivalents against $389.9M in long-term debt.
What is N-Able Inc's gross margin?
N-Able Inc (NABL) had a gross margin of 77.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is N-Able Inc's operating margin?
N-Able Inc (NABL) had an operating margin of 7.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is N-Able Inc's net profit margin?
N-Able Inc (NABL) had a net profit margin of -3.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is N-Able Inc's return on equity (ROE)?
N-Able Inc (NABL) has a return on equity of -2.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is N-Able Inc's free cash flow?
N-Able Inc (NABL) generated $75.1M in free cash flow during fiscal year 2025. This represents a 21.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is N-Able Inc's operating cash flow?
N-Able Inc (NABL) generated $93.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are N-Able Inc's total assets?
N-Able Inc (NABL) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are N-Able Inc's capital expenditures?
N-Able Inc (NABL) invested $18.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does N-Able Inc spend on research and development?
N-Able Inc (NABL) invested $100.7M in research and development during fiscal year 2025.
What is N-Able Inc's current ratio?
N-Able Inc (NABL) had a current ratio of 1.19 as of fiscal year 2025, which is considered adequate.
What is N-Able Inc's debt-to-equity ratio?
N-Able Inc (NABL) had a debt-to-equity ratio of 0.48 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is N-Able Inc's return on assets (ROA)?
N-Able Inc (NABL) had a return on assets of -1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is N-Able Inc's Altman Z-Score?
N-Able Inc (NABL) has an Altman Z-Score of 1.44, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is N-Able Inc's Piotroski F-Score?
N-Able Inc (NABL) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are N-Able Inc's earnings high quality?
N-Able Inc (NABL) has an earnings quality ratio of -5.47x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is N-Able Inc?
N-Able Inc (NABL) scores 44 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.