N-able reports Q3 EPS 3c, consensus 8c

Reports Q3 $107.6M revenue $, consensus $106.46M. “As the Age of the MSP advances, the IT outsourcing market remains strong,” said N-able president and CEO John Pagliuca. “Compelling market trends are driving MSP growth, including the fast-moving shift to consolidate and modernize their environments, the movement upmarket, and increasing security standards – all centered on the need to support the expanding small and medium enterprise IT ecosystem. We added new capabilities in the third quarter to meet these evolving market needs, including exciting developments to our security suite. As we move forward, our vision is clear, and we are invigorated by the opportunity to elevate our standing as a vendor of choice for MSPs.” “Our third quarter results were strong, exceeding our guidance on the top and bottom lines,” added N-able executive vice president and CFO Tim O’Brien. “Looking ahead, we believe we are uniquely positioned to benefit from an appealing market opportunity. We intend to continue to invest in product innovation that advances our strategy of empowering MSPs with purpose-built technology while maintaining cost discipline across other areas of the business.”