Q2 2025 N-Able Inc Earnings Call Transcript
Key Points
- N-able Inc (NABL) surpassed $500 million in Annual Recurring Revenue (ARR), growing 14% year over year.
- The company delivered a 32% adjusted EBITDA margin, indicating strong profitability.
- N-able's cyber resilience platform is resonating well with customers, leading to healthy growth in ARR per device.
- The company's data protection solution, Cove, recorded its highest bookings and net new ARR quarter ever.
- N-able's channel strategy is gaining traction, with a nearly doubled reseller pipeline quarter over quarter.
- Gross margin decreased to 81.8% from 84.7% in the same period in 2024.
- The company faces challenges with vulnerability management, as vulnerability exploitation is a growing breach factor.
- There is a need for continued education and evangelism among MSPs regarding the benefits of MDR/XDR solutions.
- The physical device management market is relatively flat, indicating limited growth potential in this area.
- N-able's growth strategy relies heavily on expanding into new markets, which may take several quarters to materialize.
Hello everyone. Welcome to today's N-Able second quarter 2025 earnings call. My name is Seb, and I'll be the operator for your call today.
(Operator Instructions)
I will now hand the floor to Griffin Gyr to begin.
Thank you, operator, and welcome everyone to N-Able second quarter 2025 earnings call.
With me today are John Pagliuca, N-Able's President and CEO, and Tim OâBrien, EVP and CFO.
Following our prepared remarks, we will open the line for a question-and-answer session.
This call is being simultaneously webcast on our investor relations website at investors.n-able.com.
There you can also find our earnings press release which is intended to supplement our prepared remarks during today's call.
Certain statements made during this call are forward-looking statements, including those concerning our financial outlook, our market opportunities, and the impact of the global economic environment on our business. These statements are based on
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