# N-able, Inc. (NABL)

> Source: Nexqual · https://nexqual.com/NABL · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, N-able, Inc. (NABL), nexqual.com/NABL" · informational, not investment advice.

**Price:** USD 5.18 (-2.08% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 5.29 · day 5.08–5.24 · 52w 2.92–8.74 · market cap $979M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $531M, net income -$6.9M (-1.3% margin), free cash flow $70.8M (SEC filings).
- Earnings quality: non-operating income -$36.6M vs operating income $50.5M over the last four quarters; P/E excluding non-operating income ≈57.8x (estimate: non-operating income taxed at the company's 35% effective rate).
- Analysts: Hold (mean 2.83 on a 1–5 scale) (6 analysts), mean target USD 4.68 (range 3.65–8).
- Total return with dividends: 1Y -31.9% vs S&P 500 +14.8%; 5Y -61.0% vs S&P 500 +79.1%.
- Next earnings: 2026-11-05, EPS estimate USD 0.1, revenue estimate $135M. All companies reporting that day: https://nexqual.com/earnings/2026-11-05
- Dividend: NABL paid no cash dividend in the last five years.
- Short interest: 5.46% of float (as of 2026-10-15), 1.5 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $346M | $372M | $422M | $466M | $509M | $531M |
| Gross profit | $294M | $313M | $354M | $385M | $391M | — |
| Operating income | $33.3M | $47.4M | $70.4M | $81.9M | $33.9M | $50.5M |
| Net income | $113K | $16.7M | $23.8M | $30.7M | -$18.8M | -$6.9M |
| EPS (diluted) | $0.00 | $0.09 | $0.13 | $0.16 | -$0.10 | — |
| Free cash flow | $14.7M | $58.6M | $76.3M | $61.9M | $75.1M | $70.8M |
| Gross margin | 84.9% | 84.2% | 83.8% | 82.6% | 76.9% | — |
| Operating margin | 9.6% | 12.7% | 16.7% | 17.6% | 6.7% | 9.5% |
| Net margin | 0.0% | 4.5% | 5.6% | 6.6% | -3.7% | -1.3% |
| Revenue growth | +14.4% | +7.3% | +13.6% | +10.3% | +9.3% | — |
| Cash + short-term investments | $66.7M | $98.8M | $153M | $85.2M | $112M | — |
| Total debt | $339M | $337M | $335M | $333M | $394M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E ex non-operating (est.) ≈57.8x · P/S 1.8x · EV/EBITDA 13.2x · EV/Sales 2.4x · P/FCF 13.8x · P/B 1.2x · FCF yield 7.23% · Earnings yield -0.70% · Net debt $277M · EV $1.26B
P/E at fiscal year-ends: Dec 2024 57.3x, Dec 2023 103.5x.

## Analysts
Consensus Hold (mean 2.83 on a 1–5 scale), 6 analysts; mean target USD 4.68 (low 3.65, high 8).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-11 | RBC Capital | Downgrade | Outperform → Sector Perform | $6 → $4 |
| 2026-08-11 | Scotiabank | Target lowered | Sector Perform | $5.75 → $3.65 |
| 2026-08-11 | BMO Capital | Target lowered | Market Perform | $6 → $3.75 |
| 2026-08-11 | Needham | Target lowered | Buy | $6.5 → $4 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -31.9% | -61.0% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | -32.1% | -17.1% |
| Volatility (annualized) | 76.8% | 48.8% |
| Max drawdown | -64.7% (Nov 2025→Jun 2026) | -79.9% (Jun 2024→Jun 2026) |

## Dividends
NABL paid no cash dividend in the last five years.

## Short interest
4,024,086 shares sold short, 5.46% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 5,123,250 shares (-21.5%). Days to cover: 1.5 (short shares ÷ average daily volume).

## Peers (Information Technology Services)
CHRN (ChronoScale Holdings Corporatio) USD 15.62 -8.25% · DXC (DXC Technology Company) USD 15.23 -5.34% · CSQR (Csquare, Inc.) USD 14.95 -2.86% · PENG (Penguin Solutions, Inc.) USD 58.79 -3.31% · KD (Kyndryl Holdings, Inc.) USD 13.94 -1.06% · CIFR (Cipher Digital Inc.) USD 8.1 -8.68%

## More
Full page: https://nexqual.com/NABL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Subscription revenue | $137.1M | 99.2% | +6.1% |
| Other revenue | $1.2M | 0.8% | -16.2% |
| Total revenue | $138.2M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States, country of domicile | $66.8M | 48.4% | +4.1% |
| All other international | $57.0M | 41.3% | +8.0% |
| United Kingdom | $14.4M | 10.4% | +6.3% |
| Total revenue | $138.2M | 100% | — |

## Company outlook (8-K filed 2026-08-10)

- "Outlook to $562M–$565M BURLINGTON, Massachusetts - August 10, 2026 - N-able, Inc."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.10 | $0.12 | -11.4% | $135.0M | 6 |
| Next quarter (ends 2026-12-31) | $0.10 | $0.12 | -10.1% | $134.4M | 6 |
| Current fiscal year (ends 2026-12-31) | $0.39 | $0.41 | -6.4% | $540.8M | 6 |
| Next fiscal year (ends 2027-12-31) | $0.43 | $0.48 | -10.1% | $574.1M | 6 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.10 | $0.10 | In line | — |
| — | Quarter ended Mar 31, 2026 | $0.09 | $0.09 | In line | — |
| — | Quarter ended Dec 31, 2025 | $0.06 | $0.10 | Miss −40.0% | — |
| — | Quarter ended Sep 30, 2025 | $0.13 | $0.09 | Beat +44.4% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-27 | Schedule 13G/A | BlackRock, Inc.: 3.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1834488/000201238326003820/0002012383-26-003820-index.htm |
| 2026-08-28 | 8-K | Regulation FD disclosure; Other material event — “On August 26, 2026, the Board of Directors of the Company approved an increase of $50 million to its share repurchase program, adding to the $45 million authorization remaining available as of June 30, 2026. Under the share repurchase program, the Company may repurchase shares of its common stock from time to time through open market purchases, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in privately negotiated…” | https://www.sec.gov/Archives/edgar/data/1834488/000183448826000051/0001834488-26-000051-index.htm |
| 2026-08-10 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1834488/000183448826000047/0001834488-26-000047-index.htm |
| 2026-08-10 | 10-K/A | Annual report · period ended Dec 31, 2025 | https://www.sec.gov/Archives/edgar/data/1834488/000183448826000046/0001834488-26-000046-index.htm |
| 2026-08-10 | 8-K | Quarterly results; Exit or restructuring costs (layoffs, closures) — “On July 20, 2026, the Company approved a plan to effect a reorganization of the Company's global workforce that will reduce the number of employees by approximately 6%. This decision was based on cost-reduction initiatives intended to align investments with highest priority opportunities, operate a streamlined organization, and drive high levels of productivity. The Company estimates that it will incur one-time cash charges of approximately $4 million to $6 million in connection with the reorganization, primarily…” | https://www.sec.gov/Archives/edgar/data/1834488/000183448826000044/0001834488-26-000044-index.htm |
| 2026-07-24 | 8-K/A | Director or executive officer change, or pay arrangement — “In connection with his departure, Mr. Colletti entered into a separation agreement with the Company's indirect subsidiary, N able Solutions ULC, dated July 21, 2026 (the "Separation Agreement"). Under the Separation Agreement, Mr. Colletti will remain employed through February 28, 2027 (the "Deferred End Date") but was released from his duties effective July 9, 2026. Pursuant to the Separation Agreement, Mr. Colletti will receive: continued base salary and employee benefits through the Deferred End Date; a lump…” | https://www.sec.gov/Archives/edgar/data/1834488/000183448826000040/0001834488-26-000040-index.htm |
| 2026-07-13 | 8-K | Director or executive officer change, or pay arrangement; Other material event — “(b) Departure of Named Executive Officer On July 13, 2026, N-able, Inc. (the "Company") announced that Frank Colletti has left his position as Chief Revenue Officer of the Company, effective July 9, 2026 (the "Effective Date"). In connection with his departure, Mr. Colletti may be entitled to certain severance benefits pursuant and subject to the terms and conditions of his existing employment agreement with the Company, which has been previously publicly disclosed. To the extent there are any material…” | https://www.sec.gov/Archives/edgar/data/1834488/000183448826000038/0001834488-26-000038-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.