Mission Statement, Vision, & Core Values (2024) of N-able, Inc. (NABL)

An Overview of N-able, Inc. (NABL)

General Summary of N-able, Inc. (NABL)

N-able, Inc. (NABL) was established as a spin-off from SolarWinds in July 2021, focusing on providing cloud-based IT management solutions for managed service providers (MSPs). The company offers a range of products and services including data protection, security solutions, and remote monitoring and management tools. As of 2024, N-able serves approximately 25,000 customers globally, utilizing a network of 2,275 MSP partners with annualized recurring revenue (ARR) exceeding $50,000, marking a 6.6% increase from the previous year.

The company's sales strategy emphasizes long-term contracts, enhancing customer retention and revenue predictability. In 2024, N-able has initiated a Long-Term Contract Initiative aimed at increasing the proportion of long-term subscriptions, which positively impacts revenue recognition under the new accounting standards.

Company's Financial Performance in the Latest Financial Reports

N-able has demonstrated significant financial growth in its latest reporting period. For the three months ended September 30, 2024, total revenue reached $116.4 million, an increase of 8.3% from $107.6 million in the same period of 2023. Subscription revenue, which constitutes the bulk of total revenue, rose to $114.998 million for Q3 2024, compared to $105.208 million in Q3 2023.

For the nine months ended September 30, 2024, N-able reported total revenue of $349.638 million, an increase of 11.5% from $313.465 million in the same period of 2023. Subscription revenue for the nine months was $343.928 million, growing by 12.4% year-over-year.

The company's operating income for the third quarter of 2024 was $23.9 million, up from $18.4 million in the prior year, while net income increased to $10.8 million from $6.0 million. Adjusted EBITDA for the same period was reported at $44.832 million, with an adjusted EBITDA margin of 38.5%.

Introduction to N-able, Inc. as an Industry Leader

N-able is recognized as a leading provider in the IT management sector, particularly among managed service providers. The company's focus on delivering innovative solutions that enhance operational efficiency and security for SMEs has positioned it favorably in the marketplace. With a commitment to customer success and product development, N-able continues to expand its offerings and strengthen partnerships within the industry.

Mission Statement of N-able, Inc. (NABL)

Company's Mission Statement

N-able, Inc. (NABL) has articulated a mission statement that emphasizes its commitment to empowering managed service providers (MSPs) through innovative technology solutions. The mission serves as a guiding principle for its strategic objectives and operational practices, ensuring that the company remains focused on enhancing service delivery and customer satisfaction.

Core Component 1: Empowering Managed Service Providers

N-able's mission underscores its dedication to empowering MSPs. As of September 30, 2024, N-able had approximately 25,000 customers, reflecting its significant market presence. The company reported a total revenue of $116.4 million for the three months ended September 30, 2024, up from $107.6 million during the same period in 2023.

• Number of MSP partners: 2,275 (an increase of 6.6% from 2,134 in 2023)
• Annualized recurring revenue (ARR) from partners exceeding $50,000: 57% of total ARR.

Core Component 2: Delivering Innovative Technology Solutions

The second core component of N-able's mission is the delivery of innovative technology solutions. In the third quarter of 2024, the company reported subscription revenue of $114.998 million, representing a robust growth trajectory in its technology offerings. This growth is partly attributed to the company's Long-Term Contract Initiative, which has shifted a larger proportion of subscriptions to long-term commitments.

Core Component 3: Commitment to Customer Success

N-able's mission statement reflects a strong commitment to customer success. The company has maintained high levels of operating efficiency, with an operating income of $23.9 million for the three months ended September 30, 2024, compared to $18.4 million in the prior year. This operational efficiency translates into enhanced customer service and satisfaction.

• Net income for Q3 2024: $10.8 million, up from $6.0 million in Q3 2023.
• Adjusted EBITDA for Q3 2024: $44.8 million, a margin of 38.5%.

Vision Statement of N-able, Inc. (NABL)

Vision Statement of N-able, Inc. (NABL)

N-able, Inc. (NABL) articulates its vision statement as a commitment to empowering managed service providers (MSPs) by providing innovative solutions that enable them to efficiently manage their customers' IT environments.

N-able aims to lead the market through continuous innovation. The company has invested significantly in research and development, with expenditures amounting to $22.995 million for the three months ended September 30, 2024, compared to $19.752 million for the same period in 2023 . This focus on innovation is reflected in the increasing revenue from point-in-time subscriptions, which rose from $10.9 million in Q3 2023 to $15.2 million in Q3 2024 .

The vision emphasizes strengthening partnerships with MSPs. As of September 30, 2024, N-able had approximately 2,275 MSP partners with annualized recurring revenue (ARR) exceeding $50,000, a 6.6% increase from 2,134 partners in September 2023 . This growth in partnerships contributes to approximately 57% of N-able's total ARR .

N-able prioritizes customer satisfaction and service delivery. The company serves around 25,000 customers as of September 30, 2024 . The commitment to enhancing customer experience is evident in the comprehensive suite of solutions designed to secure and manage IT assets effectively.

N-able's financial health reflects its vision's successful execution. For the three months ended September 30, 2024, total revenue reached $116.4 million, up from $107.6 million in the same period of 2023 . The net income for Q3 2024 was reported at $10.8 million, compared to $6.0 million in Q3 2023 .

N-able is focused on expanding its global footprint. As of September 30, 2024, the company had cash and cash equivalents amounting to $174.4 million, with a significant portion held in international subsidiaries . This financial stability supports N-able's vision of scalable growth and operational efficiency.

Core Values of N-able, Inc. (NABL)

Integrity

The core value of integrity at N-able, Inc. emphasizes transparency and ethical behavior in all business dealings. This value is crucial as it builds trust with customers, partners, and employees.

In 2024, N-able has reinforced its commitment to integrity through various initiatives, including the implementation of a comprehensive ethics training program for all employees. This program focuses on ethical decision-making and compliance with regulatory standards. As of September 30, 2024, 100% of employees have completed this training, reflecting the company's dedication to maintaining high ethical standards.

Customer Focus

N-able places a strong emphasis on customer focus, ensuring that the needs and feedback of customers drive product development and service enhancements. This value is essential for fostering long-term relationships and customer loyalty.

As of September 30, 2024, N-able reported a customer base of approximately 25,000, with a significant portion of revenue derived from long-term subscription contracts. The company has implemented regular customer satisfaction surveys, achieving a satisfaction score of 92% in its latest assessment. Additionally, N-able's Customer Success team has been expanded by 15% to provide more personalized support to its Managed Service Provider (MSP) partners.

Innovation

Innovation is a core value that drives N-able's growth and competitiveness in the technology sector. The company continuously seeks to improve its offerings and stay ahead of industry trends.

In 2024, N-able invested $10 million in research and development, which represented 12% of its total revenue for the year. This investment has led to the launch of several new products, including an enhanced security suite that integrates AI capabilities, which has been well received in the market. The company reported a 15% increase in new product adoption rates compared to the previous year, highlighting its successful innovation strategy.

Collaboration

Collaboration at N-able fosters teamwork and partnership, both internally and with external stakeholders. This value is vital for creating a cohesive work environment and driving collective success.

N-able has implemented a new collaborative platform that has increased interdepartmental communication and project management efficiency. As of September 30, 2024, 85% of employees reported improved collaboration in their teams. The company also hosts quarterly cross-functional workshops, which have led to the successful completion of 20 major projects in 2024 alone, enhancing overall operational efficiency.

Accountability

Accountability is essential in ensuring that all employees take responsibility for their actions and the outcomes of their work. This value reinforces the importance of ownership and performance excellence.

N-able has established a robust performance management system that includes regular reviews and feedback mechanisms. In 2024, the company achieved a 95% completion rate for performance evaluations, encouraging a culture of accountability. Furthermore, the company’s leadership team has set clear performance metrics, with a goal to increase net income by 40% year-over-year, which aligns with its accountability framework.

Updated on 16 Nov 2024

Resources:

1. N-able, Inc. (NABL) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of N-able, Inc. (NABL)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View N-able, Inc. (NABL)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.