N-able reports Q4 EPS 11c, consensus 8c

Reports Q4 revenue $108.4, consensus $106.86M ….Subscription revenue of $106.1 million, representing 13.6% year-over-year growth, or 11.7% year-over-year growth on a constant currency basis. “Our 2023 performance was strong, and we believe lays the groundwork for a successful 2024,” said N-able president and CEO John Pagliuca. “Demand for effective IT management software has remained robust, with increasing security threats, intensifying compliance standards, and rising IT complexity challenging MSPs and SMEs across the globe. With our expanding suite of purpose-built software products – including the recent additions of MDR and Cloud Commander – N-able is poised to meet these needs. We have high ambitions in 2024 and are determined to deliver for our customers and stakeholders.” “Our fourth quarter results exceeded expectations on the top and bottom lines capping a successful year where we advanced our product roadmap, expanded our cross-sell opportunity, and drove double digit revenue growth while growing our full-year adjusted EBITDA margin by over 300 basis points,” added N-able CFO Tim O’Brien. “Our 2024 operating plan builds on this momentum and we believe positions us to advance critical strategic initiatives as we aim to achieve a sustained Rule of 50 performance goal.”