Spin-off - N-able, Inc.
Form Type: 10-Q
Filing Date: 2025-05-08
Corporate Action: Spin-off
Type: Update
Accession Number: 000183448825000108
Filing Summary: N-able, Inc. reported a net loss of $7.162 million for the three months ended March 31, 2025, compared to a net income of $7.456 million for the same period in 2024. The decline was attributed to increased operating expenses despite revenue growth from subscriptions and other services, totaling $118.197 million, up from $113.749 million a year earlier. The operating income was $1.824 million, significantly lower than the previous year. The company's consolidated balance sheet shows total assets of $1.352 billion and total stockholders' equity of $775.101 million as of March 31, 2025. N-able has also highlighted its expectations for continued growth and acquisitions, notably the acquisition of Adlumin, Inc., and its ongoing spin-off process from SolarWinds Corporation into a separate public company, expected to bring various operational benefits. The report includes detailed financial statements, management discussion, and foresight regarding challenges from economic conditions and market performance.
Additional details:
Shares Outstanding: 189059535
Net Loss: 7162
Gross Profit: 90519
Operating Income: 1824
Subscription Revenue: 118197
Cash And Cash Equivalents: 94090
Total Assets: 1352077
Total Liabilities: 576976
Total Stockholders Equity: 775101
Net Income Per Share Basic: -0.04
Net Income Per Share Diluted: -0.04
Form Type: 10-K
Filing Date: 2025-03-07
Corporate Action: Spin-off
Type: Update
Accession Number: 000183448825000053
Filing Summary: N-able, Inc. has released its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, highlighting significant developments, including its expected spin-off from SolarWinds Corporation into a standalone public company. This spin-off is anticipated to create strategic opportunities for N-able in focusing on its core offerings, including cybersecurity and IT management solutions tailored for managed service providers. The report elaborates on financial projections, risk factors related to economic conditions, customer acquisition challenges, and the impact of foreign exchange rates. Furthermore, it includes management's expectations regarding revenue growth, expenses, and potential tax implications from the spin-off.
Additional details:
Business Overview: Leading global provider of cloud-based security, data protection, and unified endpoint management software solutions for IT service providers.
Expected Spin Off Date: Expected date of spin-off from SolarWinds is not disclosed, but it is a significant part of the company's strategic direction.
Market Value Of Non Affiliates: Approximately $1.1 billion as of June 30, 2024.
Shares Outstanding: 188,950,626 shares of common stock as of February 28, 2025.
Audit Report: Indicates that the company has filed a report attesting to the effectiveness of internal controls over financial reporting.
Securities Registered: Common stock registered under the New York Stock Exchange with the trading symbol NABL.
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