Security, Data Protection Push N-able Q3 Revenue Up

N-able, the former SolarWinds MSP that provides business tools for MSPs, is touting good numbers from its quarterly earnings report.

The company’s subscription revenue increased 17% year over year. Customers representing $50,000 or more in annual recurring revenue grew 25%.

John Pagliuca, CEO of N-able, is excited about the company officially becoming independent last quarter.

N-able’s John Pagliuca

“I believe N-able is well-positioned in a dynamic industry with strong growth potential,” said Pagliuca. “The digital evolution is accelerating with SMEs looking to increase productivity, collaboration and security as they look to differentiate for a new hybrid workforce.”

Pagliuca says N-able’s MSPs continue to demand technology and tools that help them land, expand and retain their customers.

“As the N-able brand gains traction, we continue to improve and refine the ‘Why N-able’ story by demonstrating the unique benefits of our platform to MSP partners around the world,” he added.

The company’s third quarter financial highlights included total revenue of $88.4 million, representing 16% year-over-year growth. Additionally, N-able’s subscription revenue exceeded $86 million, also year over year.

Future Financial Outlook

As for the fourth quarter, N-able expects total revenue in the range of $88.5 million-$89 million. That would mean 11% growth over 2020.

N-able’s Tim O’Brien

The projected outlook for all of 2021 is a total revenue approaching $346 million, growth of 14%. This is more than N-able originally predicted, according to reporting by Channel Futures earlier this year.

“We saw continued robust demand for our security and data protection offerings … ” added N-able executive vice president and CFO Tim O’Brien. “As we look ahead, we are optimistic that the investments we’ve been making this year will contribute to continued growth in our business in 2022. We will continue to execute on our strategic product and go-to-market initiatives to further our value to all of our stakeholders.”