What is N-able's operating income?

N-able's total operating income in 2025 was $33.90 million, based on the following breakdown: Total Gross Profit: $391.48 million Total Operating Expenses: $357.59 million

N-able (NABL) Financials

$3.46 +0.02 (+0.58%)

Closing price 08/14/2026 03:59 PM Eastern

Extended Trading

$3.47 +0.01 (+0.29%)

As of 08/14/2026 07:43 PM Eastern

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Annual Income Statements for N-able

This table shows N-able's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-2.51	-7.16	0.11	17	24	31	-19
Consolidated Net Income / (Loss)	-2.51	-7.16	0.11	17	24	31	-19
Net Income / (Loss) Continuing Operations	-2.51	-7.16	0.11	17	24	31	-19
Total Pre-Tax Income	3.19	4.86	12	30	45	54	-0.17
Total Operating Income	37	34	33	47	70	82	34
Total Gross Profit	206	240	294	313	354	385	391
Total Revenue	264	303	346	372	422	466	509
Operating Revenue	264	303	346	372	422	466	509
Total Cost of Revenue	57	63	52	59	68	81	117
Operating Cost of Revenue	57	63	52	59	68	81	117
Total Operating Expenses	170	206	261	266	284	303	358
Selling, General & Admin Expense	39	57	81	71	70	76	92
Marketing Expense	70	82	113	125	135	136	163
Research & Development Expense	37	43	54	63	78	91	101
Amortization Expense	23	24	13	5.85	0.60	0.28	2.00
Total Other Income / (Expense), net	-33	-29	-22	-17	-26	-28	-34
Interest & Investment Income	-34	-28	-20	-19	-30	-30	-36
Other Income / (Expense), net	0.39	-0.77	-1.27	1.88	4.62	2.23	1.93
Income Tax Expense	5.71	12	11	14	21	23	19
Basic Earnings per Share	($0.02)	($0.05)	$0.00	$0.09	$0.13	$0.17	($0.10)
Weighted Average Basic Shares Outstanding	158.12M	158.12M	167.46M	180.14M	182.37M	185.28M	187.82M
Diluted Earnings per Share	($0.02)	($0.05)	$0.00	$0.09	$0.13	$0.16	($0.10)
Weighted Average Diluted Shares Outstanding	158.12M	158.12M	168.67M	181.30M	185.98M	188.43M	187.82M
Weighted Average Basic & Diluted Shares Outstanding	-	-	179.84M	182.03M	184.76M	188.95M	188.38M

This table shows N-able's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	9.35	7.46	9.46	11	3.29	-7.16	-4.63	1.38	-7.23	-0.62	1.76
Consolidated Net Income / (Loss)	9.35	7.46	9.46	11	3.29	-7.16	-4.63	1.38	-7.23	-0.62	1.76
Net Income / (Loss) Continuing Operations	9.35	7.46	9.46	11	3.29	-7.16	-4.63	1.38	-7.23	-0.62	1.76
Total Pre-Tax Income	17	13	16	19	6.96	-3.86	0.42	7.76	-2.69	4.19	7.72
Total Operating Income	22	20	22	24	16	1.82	9.32	12	13	12	16
Total Gross Profit	91	95	100	97	93	91	102	102	99	102	106
Total Revenue	108	114	119	116	117	118	131	132	130	134	138
Operating Revenue	108	114	119	116	117	118	131	132	130	134	138
Total Cost of Revenue	18	18	19	20	23	28	29	30	31	32	32
Operating Cost of Revenue	18	18	19	20	23	28	29	30	31	32	32
Total Operating Expenses	69	75	78	73	77	89	92	90	86	89	90
Selling, General & Admin Expense	16	17	23	17	19	24	23	24	20	20	20
Marketing Expense	34	36	33	32	35	40	42	40	40	43	43
Research & Development Expense	19	22	22	23	23	24	26	25	25	26	27
Amortization Expense	0.01	0.01	0.02	0.02	0.23	0.50	0.50	0.50	0.50	0.50	0.50
Total Other Income / (Expense), net	-5.03	-7.34	-6.46	-5.27	-9.03	-5.69	-8.91	-3.84	-16	-8.27	-8.76
Interest & Investment Income	-7.72	-7.62	-7.61	-7.54	-7.27	-7.07	-8.09	-8.63	-12	-7.59	-8.34
Other Income / (Expense), net	2.69	0.29	1.14	2.27	-1.77	1.39	-0.82	4.79	-3.73	-0.68	-0.41
Income Tax Expense	7.43	5.70	6.06	7.89	3.67	3.30	5.05	6.38	4.54	4.80	5.96
Basic Earnings per Share	$0.06	$0.04	$0.05	$0.06	$0.02	($0.04)	($0.02)	$0.01	($0.04)	$0.00	$0.01
Weighted Average Basic Shares Outstanding	182.37M	184.02M	185.00M	185.51M	185.28M	188.23M	188.82M	187.60M	187.82M	187.55M	188.63M
Diluted Earnings per Share	$0.06	$0.04	$0.05	$0.06	$0.01	($0.04)	($0.02)	$0.01	($0.04)	$0.00	$0.01
Weighted Average Diluted Shares Outstanding	185.98M	187.17M	187.27M	188.07M	188.43M	188.23M	188.82M	188.42M	187.82M	187.55M	189.12M
Weighted Average Basic & Diluted Shares Outstanding	184.76M	184.76M	185.28M	185.76M	188.95M	189.06M	187.10M	186.33M	188.38M	188.38M	188.91M

This table details how cash moves in and out of N-able's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-39	60	-33	32	54	-68	27
Net Cash From Operating Activities	26	86	45	71	90	79	93
Net Cash From Continuing Operating Activities	26	86	45	71	90	79	93
Net Income / (Loss) Continuing Operations	-2.51	-7.16	0.11	17	24	31	-19
Consolidated Net Income / (Loss)	-2.51	-7.16	0.11	17	24	31	-19
Depreciation Expense	54	56	34	24	22	26	44
Amortization Expense	0.00	0.00	0.73	1.62	1.60	1.60	2.84
Non-Cash Adjustments To Reconcile Net Income	6.05	30	24	33	41	37	45
Changes in Operating Assets and Liabilities, net	-32	5.98	-14	-4.66	1.91	-16	20
Net Cash From Investing Activities	-23	-16	-35	-30	-22	-122	-29
Net Cash From Continuing Investing Activities	-23	-16	-35	-30	-22	-122	-29
Purchase of Property, Plant & Equipment	-5.79	-12	-31	-13	-14	-18	-18
Acquisitions	-17	-4.22	-4.17	-17	-8.56	-105	-11
Other Investing Activities, net	-	-	-	-	0.00	0.00	0.30
Net Cash From Financing Activities	-43	-11	-42	-10	-15	-23	-41
Net Cash From Continuing Financing Activities	-43	-11	-42	-10	-15	-23	-41
Repayment of Debt	-43	-11	-390	-3.50	-3.50	-3.50	-343
Repurchase of Common Equity	-	-	-	-	0.00	0.00	-30
Issuance of Debt	0.00	0.00	350	-	0.00	0.00	400
Issuance of Common Equity	0.00	0.00	216	1.32	1.68	2.38	2.36
Other Financing Activities, net	0.00	0.00	-218	-8.22	-13	-21	-70
Effect of Exchange Rate Changes	1.79	1.48	-1.24	1.31	1.62	-2.27	3.02
Cash Interest Paid	53	27	20	16	28	29	25
Cash Income Taxes Paid	8.94	14	19	16	15	13	18

This table details how cash moves in and out of N-able's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	26	-14	18	17	-89	8.89	-0.22	7.56	10	5.98	-2.00
Net Cash From Operating Activities	31	4.18	27	22	26	20	24	24	25	17	27
Net Cash From Continuing Operating Activities	31	4.18	27	22	26	20	24	24	25	17	27
Net Income / (Loss) Continuing Operations	9.35	7.46	9.46	11	3.29	-7.16	-4.02	1.38	-7.23	-0.62	0.69
Consolidated Net Income / (Loss)	9.35	7.46	9.46	11	3.29	-7.16	-4.02	1.38	-7.23	-0.62	0.69
Depreciation Expense	5.48	5.82	5.90	6.05	7.95	10	11	11	12	11	11
Amortization Expense	0.40	0.40	0.40	0.40	0.40	0.39	0.39	0.40	1.66	0.23	0.23
Non-Cash Adjustments To Reconcile Net Income	7.53	8.73	12	-3.20	16	13	9.94	2.51	20	17	8.94
Changes in Operating Assets and Liabilities, net	8.46	-18	-0.92	7.97	-1.55	2.86	7.01	8.63	-0.46	-11	6.00
Net Cash From Investing Activities	-5.17	-5.13	-5.15	-5.31	-107	-6.08	-6.50	-9.43	-6.96	-4.24	-13
Net Cash From Continuing Investing Activities	-5.17	-5.13	-5.15	-5.31	-107	-6.08	-6.50	-9.43	-6.96	-4.24	-13
Purchase of Property, Plant & Equipment	-3.29	-3.44	-3.24	-3.74	-7.15	-3.29	-3.79	-6.58	-4.48	-1.69	-9.81
Acquisitions	-1.88	-1.69	-1.90	-1.57	-100	-2.79	-3.01	-2.85	-2.48	-2.55	-2.70
Net Cash From Financing Activities	-3.22	-12	-4.97	-2.52	-3.20	-7.29	-18	-12	-3.49	-4.42	-15
Net Cash From Continuing Financing Activities	-3.22	-12	-4.97	-2.52	-3.20	-7.29	-18	-12	-3.49	-4.42	-15
Repayment of Debt	-0.88	-0.88	-0.88	-0.88	-0.88	-0.88	-0.88	-0.88	-340	-1.00	-3.30
Other Financing Activities, net	-2.35	-12	-4.09	-2.82	-2.32	-7.71	-7.42	-1.74	-53	-4.60	-11
Effect of Exchange Rate Changes	2.79	-0.96	1.11	2.78	-5.20	2.58	0.39	4.54	-4.48	-2.83	-1.40
Cash Interest Paid	7.32	7.27	7.29	7.20	6.93	6.45	6.26	6.26	6.01	6.86	6.55
Cash Income Taxes Paid	3.89	1.78	4.24	2.15	4.61	2.16	3.74	5.66	6.51	5.59	8.01

This table presents N-able's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,080	1,056	1,079	1,163	1,339	1,410
Total Current Assets	136	121	154	225	184	216
Cash & Equivalents	100	67	99	153	85	112
Accounts Receivable	29	33	35	40	45	50
Prepaid Expenses	5.58	14	13	10	13	21
Current Deferred & Refundable Income Taxes	1.26	7.25	7.81	8.00	3.56	3.43
Other Current Assets	-	-	-	13	37	29
Plant, Property, & Equipment, net	20	39	37	37	37	38
Total Noncurrent Assets	924	896	887	901	1,119	1,155
Goodwill	874	841	829	838	977	1,024
Intangible Assets	27	8.07	8.87	6.72	83	65
Noncurrent Deferred & Refundable Income Taxes	2.98	1.68	0.80	1.09	2.03	4.16
Other Noncurrent Operating Assets	20	45	49	55	57	62
Total Liabilities & Shareholders' Equity	1,080	1,056	1,079	1,163	1,339	1,410
Total Liabilities	449	437	437	451	580	608
Total Current Liabilities	55	61	62	82	150	184
Short-Term Debt	0.00	3.50	3.50	3.50	3.50	4.00
Accounts Payable	5.54	5.87	3.54	5.24	6.29	9.00
Accrued Expenses	22	31	36	49	51	55
Current Deferred Revenue	9.50	11	12	13	24	27
Current Deferred & Payable Income Tax Liabilities	4.45	4.60	1.63	4.52	9.84	9.99
Other Current Liabilities	11	5.29	5.77	6.44	56	79
Total Noncurrent Liabilities	394	376	375	370	429	423
Long-Term Debt	0.00	335	333	332	330	390
Noncurrent Deferred Revenue	0.17	0.22	0.39	0.17	3.00	1.75
Noncurrent Deferred & Payable Income Tax Liabilities	5.85	2.63	2.78	1.82	3.45	1.85
Other Noncurrent Operating Liabilities	388	38	38	36	93	30
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	631	618	642	711	760	802
Total Preferred & Common Equity	631	618	642	711	760	802
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	631	618	642	711	760	802
Common Stock	0.00	603	633	667	709	747
Retained Earnings	0.00	0.13	17	40	72	53
Treasury Stock	-	-	-	-	0.00	-30
Accumulated Other Comprehensive Income / (Loss)	49	15	-7.82	4.41	-21	33

This table presents N-able's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	1,093	1,113	1,123	1,150	1,175	1,223	1,352	1,386	1,398	1,395	1,396
Total Current Assets	163	184	204	222	252	282	184	187	200	211	212
Cash & Equivalents	98	109	127	139	158	174	94	94	101	118	116
Accounts Receivable	36	40	39	40	37	40	45	48	45	46	46
Prepaid Expenses	15	19	21	33	26	15	20	18	20	24	24
Current Deferred & Refundable Income Taxes	14	16	17	10	12	15	3.68	3.88	3.86	3.17	3.18
Other Current Assets	-	-	-	-	19	38	22	24	30	20	23
Plant, Property, & Equipment, net	37	38	36	35	35	35	36	37	39	38	43
Total Noncurrent Assets	893	891	882	892	888	907	1,133	1,163	1,159	1,147	1,140
Goodwill	833	832	822	830	827	844	991	1,023	1,024	1,015	1,012
Intangible Assets	8.00	7.50	6.85	6.14	5.62	5.38	79	74	70	60	55
Noncurrent Deferred & Refundable Income Taxes	1.57	1.57	1.53	1.04	1.03	1.07	2.09	2.23	2.22	4.26	4.01
Other Noncurrent Operating Assets	50	50	52	55	54	56	61	63	63	68	69
Total Liabilities & Shareholders' Equity	1,093	1,113	1,123	1,150	1,175	1,223	1,352	1,386	1,398	1,395	1,396
Total Liabilities	436	444	448	441	450	459	577	577	585	596	591
Total Current Liabilities	64	74	80	74	85	94	154	151	158	167	162
Short-Term Debt	3.50	3.50	3.50	3.50	3.50	3.50	3.50	3.50	3.50	4.00	4.00
Accounts Payable	3.14	5.60	3.61	4.03	6.22	6.53	3.69	7.56	7.97	14	18
Accrued Expenses	32	40	44	36	45	46	46	45	50	40	43
Current Deferred Revenue	12	12	12	13	11	11	23	21	17	21	21
Current Deferred & Payable Income Tax Liabilities	6.82	7.66	11	11	14	20	10	9.02	10	9.72	5.67
Other Current Liabilities	5.68	5.82	5.79	6.31	5.94	6.12	68	66	70	79	71
Total Noncurrent Liabilities	373	371	368	367	365	365	423	425	426	429	429
Long-Term Debt	333	332	332	331	331	330	329	329	328	389	388
Noncurrent Deferred Revenue	0.23	0.17	0.16	0.22	0.19	0.24	3.46	2.75	4.25	1.36	0.88
Noncurrent Deferred & Payable Income Tax Liabilities	1.98	1.99	1.92	1.78	1.77	1.89	3.49	3.61	3.61	1.72	1.72
Other Noncurrent Operating Liabilities	37	36	34	34	33	33	87	91	90	37	38
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	656	669	675	709	724	765	775	809	813	799	805
Total Preferred & Common Equity	656	669	675	709	724	765	775	809	813	799	805
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	656	669	675	709	724	765	775	809	813	799	805
Common Stock	638	647	658	667	676	686	716	727	738	755	764
Retained Earnings	20	25	31	48	57	68	64	60	61	54	53
Treasury Stock	-	-	-	-	-	-	-	-10	-20	-30	-30
Accumulated Other Comprehensive Income / (Loss)	-2.11	-3.35	-14	-5.99	-9.02	11	-4.67	33	34	21	18

This table displays calculated financial ratios and metrics derived from N-able's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	14.93%	14.39%	7.31%	13.48%	10.49%	9.71%
EBITDA Growth	0.00%	-1.86%	-25.58%	13.18%	29.81%	14.13%	-23.59%
EBIT Growth	0.00%	-10.82%	-2.82%	53.68%	51.34%	13.04%	-54.46%
NOPAT Growth	0.00%	-72.80%	100.65%	7,910.40%	42.71%	26.51%	-657.73%
Net Income Growth	0.00%	-184.95%	101.58%	14,684.96%	40.13%	32.23%	-155.02%
EPS Growth	0.00%	-150.00%	100.00%	0.00%	44.44%	23.08%	-156.25%
Operating Cash Flow Growth	0.00%	235.42%	-47.07%	57.50%	26.15%	-11.82%	17.33%
Free Cash Flow Firm Growth	0.00%	0.00%	38.96%	110.19%	-33.82%	-378.34%	-410.63%
Invested Capital Growth	0.00%	0.00%	66.80%	-1.16%	1.49%	12.75%	7.89%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	1.71%	3.09%	1.77%	2.77%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	7.88%	7.78%	-6.54%	0.36%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	19.53%	11.60%	-10.86%	-10.93%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	27.56%	6.48%	-7.75%	-1,125.25%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	41.85%	11.24%	-16.37%	-161.59%
EPS Q/Q Growth	0.00%	0.00%	0.00%	28.57%	18.18%	-23.81%	-125.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	7.16%	-1.09%	16.59%	-6.18%	-0.69%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	703.02%	-798.48%	-142.39%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	4.31%	1.20%	8.99%	4.13%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	78.25%	79.14%	84.87%	84.23%	83.83%	82.69%	77.11%
EBITDA Margin	34.58%	29.53%	19.21%	20.27%	23.18%	23.95%	16.68%
Operating Margin	13.89%	11.15%	9.62%	12.75%	16.67%	17.67%	7.19%
EBIT Margin	14.04%	10.89%	9.25%	13.25%	17.68%	18.08%	7.51%
Profit (Net Income) Margin	-0.95%	-2.36%	0.03%	4.49%	5.55%	6.64%	-3.33%
Tax Burden Percent	-78.67%	-147.41%	0.97%	54.91%	52.82%	57.04%	-712.34%
Interest Burden Percent	8.63%	14.72%	36.15%	61.74%	59.44%	64.38%	6.23%
Effective Tax Rate	178.67%	247.41%	99.03%	45.09%	47.18%	42.96%	812.34%
Return on Invested Capital (ROIC)	0.00%	-18.65%	0.05%	2.94%	4.19%	4.94%	-25.03%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-106.23%	-0.20%	-0.71%	-2.35%	-2.51%	67.44%
Return on Net Nonoperating Assets (RNNOA)	0.00%	16.38%	-0.03%	-0.29%	-0.73%	-0.73%	22.85%
Return on Equity (ROE)	0.00%	-2.27%	0.02%	2.65%	3.46%	4.21%	-2.18%
Cash Return on Invested Capital (CROIC)	0.00%	-218.65%	-50.03%	4.10%	2.71%	-7.04%	-32.62%
Operating Return on Assets (OROA)	0.00%	3.06%	3.00%	4.62%	6.65%	6.74%	2.79%
Return on Assets (ROA)	0.00%	-0.66%	0.01%	1.57%	2.09%	2.48%	-1.24%
Return on Common Equity (ROCE)	0.00%	-2.27%	0.02%	2.65%	3.46%	4.21%	-2.18%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-1.13%	0.02%	2.60%	3.29%	4.08%	0.00%
Net Operating Profit after Tax (NOPAT)	-29	-50	0.32	26	37	47	-262
NOPAT Margin	-10.93%	-16.43%	0.09%	7.00%	8.80%	10.08%	-51.24%
Net Nonoperating Expense Percent (NNEP)	0.00%	87.58%	0.24%	3.65%	6.54%	7.46%	-92.47%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	2.66%	3.55%	4.30%	-21.87%
Cost of Revenue to Revenue	21.75%	20.86%	15.13%	15.77%	16.17%	17.31%	22.89%
SG&A Expenses to Revenue	14.79%	18.93%	23.26%	19.13%	16.57%	16.41%	17.93%
R&D to Revenue	14.11%	14.10%	15.57%	17.08%	18.53%	19.46%	19.69%
Operating Expenses to Revenue	64.35%	67.99%	75.25%	71.49%	67.16%	65.02%	69.92%
Earnings before Interest and Taxes (EBIT)	37	33	32	49	75	84	38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	91	89	67	75	98	112	85
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	3.21	2.89	3.41	2.29	1.73
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	5.73	5.00	5.75	3.72	2.73
Price to Earnings (P/E)	0.00	0.00	17,580.45	111.18	103.53	56.04	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.01%	0.90%	0.97%	1.78%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	2.54	2.38	2.92	1.97	1.54
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	6.52	5.64	6.18	4.25	3.28
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	33.93	27.82	26.64	17.76	19.65
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	70.44	42.53	34.94	23.52	43.65
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	6,952.00	80.52	70.16	42.20	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	49.82	29.34	28.92	24.96	17.98
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	57.71	108.43	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.55	0.52	0.47	0.44	0.49
Long-Term Debt to Equity	0.00	0.00	0.54	0.52	0.47	0.43	0.48
Financial Leverage	0.00	-0.15	0.14	0.40	0.31	0.29	0.34
Leverage Ratio	0.00	1.71	1.71	1.69	1.66	1.70	1.76
Compound Leverage Factor	0.00	0.25	0.62	1.05	0.98	1.10	0.11
Debt to Total Capital	0.00%	0.00%	35.40%	34.42%	32.02%	30.49%	32.86%
Short-Term Debt to Total Capital	0.00%	0.00%	0.37%	0.36%	0.33%	0.32%	0.33%
Long-Term Debt to Total Capital	0.00%	0.00%	35.04%	34.06%	31.68%	30.17%	32.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	100.00%	64.60%	65.58%	67.98%	69.51%	67.14%
Debt to EBITDA	0.00	0.00	5.09	4.47	3.43	2.98	4.62
Net Debt to EBITDA	0.00	0.00	4.09	3.16	1.86	2.22	3.31
Long-Term Debt to EBITDA	0.00	0.00	5.04	4.43	3.39	2.95	4.57
Debt to NOPAT	0.00	0.00	1,043.01	12.95	9.02	7.09	-1.50
Net Debt to NOPAT	0.00	0.00	837.61	9.15	4.90	5.28	-1.08
Long-Term Debt to NOPAT	0.00	0.00	1,032.24	12.81	8.93	7.01	-1.49
Altman Z-Score	0.00	0.00	3.22	3.17	3.99	2.46	1.92
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	2.48	1.99	2.49	2.75	1.23	1.19
Quick Ratio	0.00	2.35	1.64	2.16	2.36	0.87	0.89
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-584	-356	36	24	-67	-342
Operating Cash Flow to CapEx	440.88%	718.73%	147.86%	556.44%	653.77%	452.12%	513.82%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.28	0.32	0.35	0.38	0.37	0.37
Accounts Receivable Turnover	0.00	10.41	11.15	10.96	11.28	10.98	10.74
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	15.46	11.88	9.76	11.37	12.77	13.80
Accounts Payable Turnover	0.00	11.40	9.19	12.46	15.53	14.00	15.31
Days Sales Outstanding (DSO)	0.00	35.05	32.73	33.30	32.36	33.25	33.99
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	32.02	39.70	29.30	23.50	26.08	23.84
Cash Conversion Cycle (CCC)	0.00	3.03	-6.98	4.00	8.86	7.17	10.15
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	534	890	880	893	1,007	1,087
Invested Capital Turnover	0.00	1.13	0.49	0.42	0.48	0.49	0.49
Increase / (Decrease) in Invested Capital	0.00	534	357	-10	13	114	79
Enterprise Value (EV)	0.00	0.00	2,259	2,096	2,606	1,983	1,676
Market Capitalization	0.00	0.00	1,987	1,857	2,424	1,735	1,394
Book Value per Share	$0.00	$3.99	$3.46	$3.55	$3.89	$4.09	$4.32
Tangible Book Value per Share	$0.00	($1.71)	($1.29)	($1.08)	($0.73)	($1.62)	($1.53)
Total Capital	0.00	631	957	979	1,046	1,092	1,199
Total Debt	0.00	0.00	339	337	335	333	394
Total Long-Term Debt	0.00	0.00	335	333	332	330	390
Net Debt	0.00	-100	272	238	182	248	282
Capital Expenditures (CapEx)	5.79	12	31	13	14	18	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-19	-3.13	-3.01	-6.47	-48	-73
Debt-free Net Working Capital (DFNWC)	0.00	81	64	96	147	37	39
Net Working Capital (NWC)	0.00	81	60	92	143	34	35
Net Nonoperating Expense (NNE)	-26	-43	0.21	9.32	14	16	-245
Net Nonoperating Obligations (NNO)	0.00	-97	272	238	182	248	282
Total Depreciation and Amortization (D&A)	54	56	35	26	23	27	47
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-6.24%	-0.90%	-0.81%	-1.53%	-10.27%	-14.32%
Debt-free Net Working Capital to Revenue	0.00%	26.71%	18.36%	25.78%	34.74%	8.01%	7.55%
Net Working Capital to Revenue	0.00%	26.71%	17.35%	24.84%	33.91%	7.26%	6.77%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.09	$0.13	$0.17	($0.09)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	167.46M	180.14M	182.37M	185.28M	187.82M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.09	$0.13	$0.16	($0.09)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	168.67M	181.30M	185.98M	188.43M	187.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	179.84M	182.03M	184.76M	188.95M	188.38M
Normalized Net Operating Profit after Tax (NOPAT)	26	24	23	26	37	47	26
Normalized NOPAT Margin	9.73%	7.80%	6.73%	7.00%	8.80%	10.08%	5.04%
Pre Tax Income Margin	1.21%	1.60%	3.35%	8.18%	10.51%	11.64%	0.47%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-176.36%

This table displays calculated financial ratios and metrics derived from N-able's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	188,376,316.00	188,378,290.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	188,376,316.00	188,378,290.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.00	0.01
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.22%	13.96%	12.60%	8.25%	7.47%	3.91%	9.88%	13.11%	11.81%	13.10%	5.90%
EBITDA Growth	30.27%	26.30%	31.46%	37.91%	-25.71%	-48.08%	-30.24%	-14.59%	1.34%	66.64%	35.47%
EBIT Growth	46.27%	35.68%	37.31%	46.02%	-41.93%	-84.55%	-59.92%	-37.38%	-33.10%	266.91%	88.87%
NOPAT Growth	25.96%	85.85%	74.62%	26.59%	-37.78%	-89.01%	-358.02%	-85.02%	22.59%	-243.37%	103.61%
Net Income Growth	33.87%	110.68%	109.69%	78.90%	-64.82%	-196.06%	-142.54%	-87.14%	-319.79%	91.41%	138.00%
EPS Growth	50.00%	100.00%	150.00%	100.00%	-83.33%	-200.00%	-140.00%	-83.33%	-500.00%	100.00%	150.00%
Operating Cash Flow Growth	69.69%	-60.64%	31.61%	-20.07%	-16.76%	370.29%	-11.33%	9.15%	-2.50%	-11.21%	9.62%
Free Cash Flow Firm Growth	-104.79%	200.75%	126.54%	1.44%	-11,031.38%	-5,878.16%	-2,326.15%	-326.12%	33.95%	42.29%	88.15%
Invested Capital Growth	1.49%	1.09%	0.59%	4.69%	12.75%	12.08%	16.29%	12.93%	7.89%	5.97%	3.19%
Revenue Q/Q Growth	0.79%	4.92%	5.01%	-2.52%	0.06%	1.45%	11.04%	0.35%	-1.09%	2.61%	3.40%
EBITDA Q/Q Growth	28.42%	-11.16%	9.00%	10.91%	-30.82%	-37.91%	46.45%	35.78%	-17.92%	2.09%	15.38%
EBIT Q/Q Growth	36.67%	-15.20%	11.29%	13.22%	-45.65%	-77.44%	188.81%	76.88%	-41.94%	23.70%	36.43%
NOPAT Q/Q Growth	11.53%	-4.44%	15.33%	3.00%	-45.19%	-83.11%	-2,806.70%	105.98%	348.52%	-119.75%	305.19%
Net Income Q/Q Growth	55.51%	-20.27%	26.81%	13.77%	-69.42%	-317.69%	43.84%	134.39%	-622.85%	91.50%	386.18%
EPS Q/Q Growth	100.00%	-33.33%	25.00%	20.00%	-83.33%	-500.00%	50.00%	150.00%	-500.00%	100.00%	0.00%
Operating Cash Flow Q/Q Growth	13.48%	-86.60%	551.96%	-19.39%	18.18%	-24.28%	22.92%	-0.76%	5.56%	-31.04%	51.76%
Free Cash Flow Firm Q/Q Growth	96.59%	295.68%	335.83%	-438.41%	-285.70%	-1.57%	-67.91%	35.22%	40.21%	11.26%	52.33%
Invested Capital Q/Q Growth	1.20%	1.24%	-0.38%	2.57%	8.99%	0.64%	3.36%	-0.39%	4.13%	-1.16%	0.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	83.75%	83.91%	83.96%	82.91%	79.99%	76.58%	78.14%	77.49%	76.18%	76.25%	76.83%
EBITDA Margin	28.03%	23.73%	24.63%	28.02%	19.38%	11.86%	15.64%	21.16%	17.56%	17.47%	19.50%
Operating Margin	20.12%	18.01%	18.40%	20.53%	13.73%	1.54%	7.71%	8.81%	10.17%	9.32%	11.92%
EBIT Margin	22.60%	18.26%	19.36%	22.48%	12.21%	2.72%	7.06%	12.45%	7.31%	8.81%	11.62%
Profit (Net Income) Margin	8.63%	6.55%	7.92%	9.24%	2.82%	-6.06%	-3.06%	1.05%	-5.55%	-0.46%	1.27%
Tax Burden Percent	55.72%	56.68%	60.94%	57.70%	47.28%	185.45%	-341.43%	17.82%	269.11%	-14.70%	22.80%
Interest Burden Percent	68.49%	63.32%	67.10%	71.22%	48.91%	-120.35%	12.71%	47.35%	-28.23%	35.54%	48.06%
Effective Tax Rate	44.28%	43.32%	39.06%	42.30%	52.72%	0.00%	441.43%	82.18%	0.00%	114.70%	77.20%
Return on Invested Capital (ROIC)	5.33%	4.95%	5.61%	6.01%	3.18%	0.53%	-13.04%	0.79%	3.48%	-0.69%	1.36%
ROIC Less NNEP Spread (ROIC-NNEP)	4.00%	3.03%	3.65%	4.35%	1.20%	-3.36%	1.69%	0.44%	-2.75%	-0.22%	0.58%
Return on Net Nonoperating Assets (RNNOA)	1.24%	0.96%	1.06%	1.11%	0.35%	-0.98%	0.46%	0.11%	-0.93%	-0.07%	0.19%
Return on Equity (ROE)	6.57%	5.91%	6.66%	7.12%	3.53%	-0.45%	-12.58%	0.90%	2.54%	-0.76%	1.54%
Cash Return on Invested Capital (CROIC)	2.71%	3.62%	4.76%	1.06%	-7.04%	-8.48%	-14.40%	-14.32%	-32.62%	-10.36%	-5.02%
Operating Return on Assets (OROA)	8.51%	7.10%	7.60%	8.78%	4.55%	1.02%	2.66%	4.73%	2.72%	3.38%	4.45%
Return on Assets (ROA)	3.25%	2.55%	3.11%	3.61%	1.05%	-2.28%	-1.15%	0.40%	-2.07%	-0.18%	0.49%
Return on Common Equity (ROCE)	6.57%	5.91%	6.66%	7.12%	3.53%	-0.45%	-12.58%	0.90%	2.54%	-0.76%	1.54%
Return on Equity Simple (ROE_SIMPLE)	0.00%	3.85%	4.46%	4.84%	0.00%	2.11%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	12	12	13	14	7.56	1.28	-35	2.07	9.27	-1.83	3.76
NOPAT Margin	11.21%	10.21%	11.21%	11.85%	6.49%	1.08%	-26.33%	1.57%	7.12%	-1.37%	2.72%
Net Nonoperating Expense Percent (NNEP)	1.33%	1.92%	1.95%	1.66%	1.99%	3.89%	-14.72%	0.35%	6.23%	-0.47%	0.78%
Return On Investment Capital (ROIC_SIMPLE)	1.16%	-	-	-	0.69%	0.12%	-3.03%	0.18%	0.77%	-0.15%	0.31%
Cost of Revenue to Revenue	16.25%	16.09%	16.04%	17.09%	20.01%	23.42%	21.86%	22.51%	23.82%	23.75%	23.17%
SG&A Expenses to Revenue	14.77%	14.99%	19.30%	14.88%	16.38%	20.23%	17.70%	18.44%	15.57%	15.15%	14.41%
R&D to Revenue	17.88%	19.41%	18.75%	19.75%	19.95%	20.21%	20.07%	19.12%	19.42%	19.55%	19.26%
Operating Expenses to Revenue	63.63%	65.90%	65.56%	62.38%	66.26%	75.04%	70.42%	68.68%	66.02%	66.93%	64.91%
Earnings before Interest and Taxes (EBIT)	25	21	23	26	14	3.21	9.27	16	9.52	12	16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	30	27	29	33	23	14	21	28	23	23	27
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.41	3.41	3.88	3.16	2.29	1.73	1.89	1.79	1.73	1.10	0.86
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.75	5.54	6.26	5.28	3.72	2.85	3.17	2.93	2.73	1.67	1.30
Price to Earnings (P/E)	103.53	88.36	87.19	65.37	56.04	81.99	534.89	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.97%	1.13%	1.15%	1.53%	1.78%	1.22%	0.19%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.92	2.89	3.32	2.79	1.97	1.56	1.69	1.62	1.54	1.08	0.90
Enterprise Value to Revenue (EV/Rev)	6.18	5.99	6.66	5.63	4.25	3.35	3.67	3.40	3.28	2.19	1.82
Enterprise Value to EBITDA (EV/EBITDA)	26.64	25.24	27.07	21.59	17.76	16.00	19.72	19.88	19.65	12.21	9.73
Enterprise Value to EBIT (EV/EBIT)	34.94	32.61	34.64	27.27	23.52	23.65	33.46	39.20	43.65	24.60	18.63
Enterprise Value to NOPAT (EV/NOPAT)	70.16	61.65	62.32	50.63	42.20	56.48	273.21	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	28.92	31.21	33.16	30.46	24.96	16.62	19.27	18.00	17.98	12.69	10.37
Enterprise Value to Free Cash Flow (EV/FCFF)	108.43	80.08	69.97	269.30	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.47	0.47	0.46	0.44	0.44	0.43	0.41	0.41	0.49	0.49	0.49
Long-Term Debt to Equity	0.47	0.47	0.46	0.43	0.43	0.42	0.41	0.40	0.48	0.49	0.48
Financial Leverage	0.31	0.32	0.29	0.26	0.29	0.29	0.27	0.25	0.34	0.33	0.32
Leverage Ratio	1.66	1.64	1.64	1.63	1.70	1.69	1.67	1.66	1.76	1.75	1.72
Compound Leverage Factor	1.13	1.04	1.10	1.16	0.83	-2.03	0.21	0.79	-0.50	0.62	0.83
Debt to Total Capital	32.02%	32.06%	31.56%	30.37%	30.49%	30.03%	29.10%	28.96%	32.86%	32.98%	32.78%
Short-Term Debt to Total Capital	0.33%	0.34%	0.33%	0.32%	0.32%	0.32%	0.31%	0.31%	0.33%	0.34%	0.33%
Long-Term Debt to Total Capital	31.68%	31.72%	31.23%	30.05%	30.17%	29.71%	28.79%	28.66%	32.53%	32.64%	32.44%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	67.98%	67.94%	68.44%	69.63%	69.51%	69.97%	70.90%	71.04%	67.14%	67.02%	67.22%
Debt to EBITDA	3.43	3.23	3.02	2.79	2.98	3.37	3.70	3.90	4.62	4.15	3.95
Net Debt to EBITDA	1.86	1.89	1.60	1.33	2.22	2.42	2.65	2.71	3.31	2.91	2.78
Long-Term Debt to EBITDA	3.39	3.20	2.99	2.76	2.95	3.34	3.66	3.86	4.57	4.11	3.91
Debt to NOPAT	9.02	7.90	6.96	6.55	7.09	11.90	51.28	-15.51	-1.50	-8.25	-19.61
Net Debt to NOPAT	4.90	4.61	3.68	3.12	5.28	8.54	36.78	-10.76	-1.08	-5.78	-13.82
Long-Term Debt to NOPAT	8.93	7.82	6.89	6.48	7.01	11.78	50.74	-15.34	-1.49	-8.17	-19.41
Altman Z-Score	3.85	3.94	4.44	3.87	2.28	1.84	2.06	1.99	1.85	1.38	1.22
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.75	3.01	2.97	3.01	1.23	1.20	1.24	1.27	1.19	1.26	1.30
Quick Ratio	2.36	2.43	2.29	2.28	0.87	0.90	0.94	0.92	0.89	0.98	1.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-0.96	1.87	8.15	-28	-106	-108	-181	-117	-70	-62	-30
Operating Cash Flow to CapEx	948.07%	121.70%	841.39%	587.94%	363.44%	598.45%	638.52%	364.77%	565.16%	1,035.63%	270.33%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.38	0.39	0.39	0.39	0.37	0.38	0.38	0.38	0.37	0.38	0.38
Accounts Receivable Turnover	11.28	11.51	11.61	11.63	10.98	11.16	11.39	11.77	10.74	11.63	11.34
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	11.37	12.03	12.31	12.95	12.77	13.26	13.50	13.54	13.80	14.37	13.28
Accounts Payable Turnover	15.53	19.60	12.26	14.80	14.00	23.32	14.45	15.08	15.31	13.91	9.89
Days Sales Outstanding (DSO)	32.36	31.72	31.43	31.38	33.25	32.71	32.05	31.01	33.99	31.40	32.20
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	23.50	18.62	29.78	24.67	26.08	15.65	25.26	24.20	23.84	26.25	36.92
Cash Conversion Cycle (CCC)	8.86	13.10	1.65	6.71	7.17	17.05	6.79	6.81	10.15	5.15	-4.73
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	893	904	901	924	1,007	1,014	1,048	1,044	1,087	1,074	1,081
Invested Capital Turnover	0.48	0.48	0.50	0.51	0.49	0.49	0.50	0.51	0.49	0.50	0.50
Increase / (Decrease) in Invested Capital	13	9.75	5.25	41	114	109	147	120	79	60	33
Enterprise Value (EV)	2,606	2,610	2,990	2,579	1,983	1,578	1,770	1,690	1,676	1,155	968
Market Capitalization	2,424	2,415	2,814	2,420	1,735	1,340	1,531	1,459	1,394	880	691
Book Value per Share	$3.89	$3.84	$3.92	$4.13	$4.09	$4.10	$4.28	$4.35	$4.32	$4.24	$4.27
Tangible Book Value per Share	($0.73)	($0.69)	($0.59)	($0.46)	($1.62)	($1.56)	($1.52)	($1.50)	($1.53)	($1.46)	($1.39)
Total Capital	1,046	1,044	1,058	1,099	1,092	1,108	1,142	1,145	1,199	1,192	1,197
Total Debt	335	335	334	334	333	333	332	332	394	393	392
Total Long-Term Debt	332	331	331	330	330	329	329	328	390	389	388
Net Debt	182	195	177	159	248	239	238	230	282	275	277
Capital Expenditures (CapEx)	3.29	3.44	3.24	3.74	7.15	3.29	3.79	6.58	4.48	1.69	9.81
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-6.47	13	13	18	-48	-60	-55	-56	-73	-70	-62
Debt-free Net Working Capital (DFNWC)	147	152	171	192	37	34	39	45	39	48	53
Net Working Capital (NWC)	143	149	167	188	34	30	36	42	35	44	49
Net Nonoperating Expense (NNE)	2.80	4.16	3.94	3.04	4.27	8.44	-31	0.68	17	-1.22	2.00
Net Nonoperating Obligations (NNO)	182	195	177	159	248	239	238	230	282	275	277
Total Depreciation and Amortization (D&A)	5.89	6.22	6.30	6.46	8.35	11	11	11	13	12	11
Debt-free, Cash-free Net Working Capital to Revenue	-1.53%	2.93%	2.94%	3.83%	-10.27%	-12.85%	-11.36%	-11.24%	-14.32%	-13.33%	-11.72%
Debt-free Net Working Capital to Revenue	34.74%	34.88%	38.01%	41.92%	8.01%	7.14%	8.10%	9.14%	7.55%	9.03%	10.05%
Net Working Capital to Revenue	33.91%	34.08%	37.23%	41.15%	7.26%	6.40%	7.37%	8.44%	6.77%	8.27%	9.30%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.06	$0.04	$0.05	$0.06	$0.02	($0.04)	($0.02)	$0.01	($0.04)	$0.00	$0.01
Adjusted Weighted Average Basic Shares Outstanding	182.37M	184.02M	185.00M	185.51M	185.28M	188.23M	188.82M	187.60M	187.82M	187.55M	188.63M
Adjusted Diluted Earnings per Share	$0.06	$0.04	$0.05	$0.06	$0.01	($0.04)	($0.02)	$0.01	($0.04)	$0.00	$0.01
Adjusted Weighted Average Diluted Shares Outstanding	185.98M	187.17M	187.27M	188.07M	188.43M	188.23M	188.82M	188.42M	187.82M	187.55M	189.12M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	184.76M	184.76M	185.28M	185.76M	188.95M	189.06M	187.10M	186.33M	188.38M	188.38M	188.91M
Normalized Net Operating Profit after Tax (NOPAT)	12	12	13	14	11	1.28	7.09	8.12	9.27	8.72	12
Normalized NOPAT Margin	11.21%	10.21%	11.21%	11.85%	9.61%	1.08%	5.40%	6.17%	7.12%	6.52%	8.34%
Pre Tax Income Margin	15.48%	11.56%	12.99%	16.01%	5.97%	-3.27%	0.90%	5.89%	-2.06%	3.13%	5.59%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-176.36%	0.00%	-340.96%

Financials Breakdown Chart

Key Financial Trends

N-able (NYSE: NABL) showed a mixed start to 2026, with improving revenue and operating profit, but weaker bottom-line results due to taxes and ongoing heavy financing/capital allocation shifts.

For Q1 2026, revenue rose to $133.7 million from $130.3 million in Q4 2025 and $118.2 million in Q1 2025. Operating income also improved to $12.5 million, up slightly from $13.2 million in the prior quarter but well above $1.8 million in Q1 2025. Despite that, the company reported a net loss of $615,000 in the quarter because tax expense and other non-operating items offset operating gains.

From a cash flow standpoint, N-able continued to generate solid operating cash flow. Q1 2026 operating cash flow was $17.5 million, down from $25.3 million in Q4 2025 but still a healthy result. Cash and equivalents increased to $117.8 million at quarter-end, although the company’s cash balance can swing meaningfully depending on debt paydowns, acquisitions, and financing activity.

Over the last four years, the trend is generally one of steady revenue growth and stable gross margins, but also persistent pressure from large marketing and R&D spending and a capital structure that has changed materially, especially after the large debt repayment in Q4 2025.

Revenue growth remains intact. Q1 2026 revenue increased year over year to $133.7 million from $118.2 million, showing continued top-line expansion.
Operating income improved sharply versus last year. Q1 2026 operating income of $12.5 million compares with just $1.8 million in Q1 2025.
Gross profit stayed strong. Gross profit was $101.9 million in Q1 2026, with gross margin still near 76%, indicating solid pricing and cost control on revenue delivery.
Operating cash flow remains positive. The company produced $17.5 million in operating cash flow in Q1 2026, which supports ongoing operations and investment.
Cash on hand is sizeable. N-able ended Q1 2026 with $117.8 million in cash and equivalents, giving it liquidity flexibility.
Debt has come down meaningfully from late 2025 levels. Long-term debt fell to $389.1 million in Q1 2026 from $328.2 million at Q3 2025, after a large deleveraging move in Q4 2025.
Share count has been relatively stable. Diluted shares were 187.5 million in Q1 2026 versus 188.8 million in Q2 2025, so dilution is not currently the dominant issue.
Acquisitions continue to be part of the story. N-able has consistently spent cash on acquisitions, which may support growth but also adds integration and execution risk.
Net income remains inconsistent. Even with improved operating performance, Q1 2026 ended in a small net loss, showing the business is still vulnerable to non-operating items.
Operating expenses are still high. Marketing, R&D, and SG&A together consumed most of gross profit, keeping operating leverage limited despite revenue growth.

Looking at the longer-term pattern, N-able has steadily grown revenue from roughly $99.8 million in Q1 2023 to $133.7 million in Q1 2026. Operating income has also improved over time, but earnings have remained uneven because interest expense and tax charges can quickly overwhelm operating results. That means investors should focus not just on sales growth, but on whether N-able can convert more of that growth into consistent earnings and free cash flow.

Bottom line: N-able appears to be a business with decent growth, strong recurring cash generation, and improved operating income, but the stock still carries some risk from leverage, acquisition spending, and unpredictable net earnings. The key question going forward is whether management can keep revenue rising while turning more of that growth into durable profit.

08/16/26 11:12 PM ETAI Generated. May Contain Errors.

N-able Financials - Frequently Asked Questions

According to the most recent income statement we have on file, N-able's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

N-able's net income appears to be on an upward trend, with a most recent value of -$18.82 million in 2025, rising from -$2.51 million in 2019. The previous period was $30.74 million in 2024. See N-able's forecast for analyst expectations on what's next for the company.

N-able's total operating income in 2025 was $33.90 million, based on the following breakdown:

Total Gross Profit: $391.48 million
Total Operating Expenses: $357.59 million

Over the last 6 years, N-able's total revenue changed from $263.52 million in 2019 to $508.84 million in 2025, a change of 93.1%.

N-able's total liabilities were at $607.67 million at the end of 2025, a 4.9% increase from 2024, and a 35.5% increase since 2020.

In the past 5 years, N-able's cash and equivalents has ranged from $66.74 million in 2021 to $153.05 million in 2023, and is currently $111.84 million as of their latest financial filing in 2025.

Over the last 6 years, N-able's book value per share changed from 0.00 in 2019 to 4.32 in 2025, a change of 431.8%.

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Financial statements for NYSE:NABL last updated on 8/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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N-able (NABL) Financials

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N-able (NABL) Financials

Annual Income Statements for N-able

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Quarterly Cash Flow Statements for N-able

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Quarterly Metrics And Ratios for N-able

Financials Breakdown Chart

Key Financial Trends

N-able Financials - Frequently Asked Questions

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How has N-able's net income changed over the last 6 years?

What is N-able's operating income?

How has N-able's revenue changed over the last 6 years?

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How has N-able's book value per share changed over the last 6 years?

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