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N-Able Inc Financials

NABL
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

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

Profitability Growth Leverage Liquidity Cash Flow Returns 44 / 100
Financial Profile 44/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
38

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.

Growth
50

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.

Leverage
92

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.

Liquidity
19

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.

Cash Flow
62

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.

Returns
6

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.

Altman Z-Score Distress
1.44

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.

Piotroski F-Score Neutral
4/9

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.

Earnings Quality Mixed
-5.47x

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

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Earnings & Revenue

Revenue
$511.4M
YoY+9.7%
5Y CAGR+11.0%

N-Able Inc generated $511.4M in revenue in fiscal year 2025. This represents an increase of 9.7% from the prior year.

EBITDA
$80.8M
YoY-25.2%
5Y CAGR-2.2%

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.

Net Income
-$17.0M
YoY-155.0%

N-Able Inc reported -$17.0M in net income in fiscal year 2025. This represents a decrease of 155.0% from the prior year.

EPS (Diluted)
$-0.09
YoY-156.3%

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

Free Cash Flow
$75.1M
YoY+21.3%
5Y CAGR+0.4%

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.

Cash & Debt
$111.8M
YoY+31.3%
5Y CAGR+2.3%

N-Able Inc held $111.8M in cash against $389.9M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
187M
YoY-0.5%

N-Able Inc had 187M shares outstanding in fiscal year 2025. This represents a decrease of 0.5% from the prior year.

Margins & Returns

Gross Margin
77.1%
YoY-5.6pp
5Y CAGR-2.0pp

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.

Operating Margin
7.2%
YoY-10.5pp
5Y CAGR-4.0pp

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.

Net Margin
-3.3%
YoY-10.0pp
5Y CAGR-1.0pp

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.

Return on Equity
-2.1%
YoY-6.2pp
5Y CAGR-1.0pp

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

R&D Spending
$100.7M
YoY+11.0%
5Y CAGR+18.7%

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.

Share Buybacks
$30.0M

N-Able Inc spent $30.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures
$18.1M
YoY+3.2%
5Y CAGR+8.8%

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

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.

N-Able Inc (NABL) revenue grew by 9.7% year-over-year, from $466.1M to $511.4M in fiscal year 2025.

No, N-Able Inc (NABL) reported a net income of -$17.0M in fiscal year 2025, with a net profit margin of -3.3%.

N-Able Inc (NABL) reported diluted earnings per share of $-0.09 for fiscal year 2025. This represents a -156.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

N-Able Inc (NABL) had EBITDA of $80.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, N-Able Inc (NABL) had $111.8M in cash and equivalents against $389.9M in long-term debt.

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.

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.

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.

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.

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.

N-Able Inc (NABL) generated $93.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

N-Able Inc (NABL) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.

N-Able Inc (NABL) invested $18.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

N-Able Inc (NABL) invested $100.7M in research and development during fiscal year 2025.

Yes, N-Able Inc (NABL) spent $30.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

N-Able Inc (NABL) had 187M shares outstanding as of fiscal year 2025.

N-Able Inc (NABL) had a current ratio of 1.19 as of fiscal year 2025, which is considered adequate.

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.

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.

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.

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.

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.

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.

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