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N-able cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$22.2M in Q3 2026 · $75.6M over twelve months

Operating cash flow$28.8M
Capital spending−$6.6M
Free cash flow+$22.2M
Cash conversion cycle-9 days

Analysis

In Q3 2026, N-able generated $28.8M of operating cash flow and spent $6.6M on capital projects, leaving free cash flow of $22.2M. That is $4.8M more than in Q3 2025 ($17.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $98.1M; the largest uses were net borrowing (+) / repaid (−) ($339M), capital spending ($22.6M), other investing ($10.2M); besides operations, cash came from other financing ($284M), shares issued ($1.8M); the cash balance fell by $9.0M.

Operating cash flow was $28.8M against net income of −$4.4M. The largest differences: depreciation & amortization +$10.9M, stock-based pay +$8.8M, accrued liabilities +$5.5M.

Its cash conversion cycle was -9 days (receivables 31 + inventory 0 − payables 40): suppliers fund its working capital.

Free cash flow

N-able: free cash flow by quarterN-able: free cash flow by quarter$18.8MQ4 2024$16.4MQ1 2025$20.4MQ2 2025$17.4MQ3 2025$20.9MQ4 2025$15.8MQ1 2026$16.7MQ2 2026$22.2MQ3 2026
Operating cash flow less capital spending.
N-able: operating cash flow against capital spendingN-able: operating cash flow against capital spendingOperating cash flowCapital spending$26.0M$7.2MQ4 2024$19.7M$3.3MQ1 2025$24.2M$3.8MQ2 2025$24.0M$6.6MQ3 2025$25.3M$4.5MQ4 2025$17.5M$1.7MQ1 2026$26.5M$9.8MQ2 2026$28.8M$6.6MQ3 2026
Latest (Q3 2026): Operating cash flow $28.8M, Capital spending $6.6M.

Capital allocation, year by year

N-able: where the cash came from (up) and went (down), by fiscal yearN-able: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $45.3MFY2021: Net borrowing $349MFY2021: Shares issued $23KFY2021: Capital spending −$30.7M$394MFY2021FY2022: Operating cash flow $71.4MFY2022: Net borrowing −$3.5MFY2022: Shares issued $108KFY2022: Capital spending −$12.8MFY2022: Acquisitions −$9.2M$71.5MFY2022FY2023: Operating cash flow $90.1MFY2023: Net borrowing −$3.5MFY2023: Shares issued $72KFY2023: Capital spending −$13.8M$90.2MFY2023FY2024: Operating cash flow $79.4MFY2024: Net borrowing −$7.0MFY2024: Shares issued $12KFY2024: Capital spending −$17.6MFY2024: Acquisitions −$98.7M$79.4MFY2024FY2025: Operating cash flow $93.2MFY2025: Net borrowing $61.4MFY2025: Shares issued $2KFY2025: Capital spending −$18.1MFY2025: Buybacks −$30.0M$155MFY2025
Over these 5 years operating cash flow totalled $379M; the largest uses were acquisitions ($108M) and capital spending ($93.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$92.5M
Debt$392M
Net debt$299M
Due within a year$4.0M

N-able funds itself: free cash flow was $75.6M over the last twelve months, and $92.5M of cash and investments stands against $392M of debt ($4.0M due within a year, 23.1× covered by cash).

Where the cash came from and went

N-able: sources (+) and uses (−) of cash, Q3 2026N-able: sources (+) and uses (−) of cash, Q3 2026Buybacks−$37.8MOperating cash flow$28.8MCash drawn (+) / kept (−)$23.3MCapital spending−$6.6MOther investing−$5.5MNet borrowing (+) / repaid (−)−$1.3MExchange rates−$905KTaxes on employees’ shares−$765KShares issued$647K
N-able: sources (+) and uses (−) of cash, TTM to Q3 2026N-able: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)−$339MOther financing$284MOperating cash flow$98.1MCapital spending−$22.6MOther investing−$10.2MExchange rates−$9.6MCash drawn (+) / kept (−)$9.0MTaxes on employees’ shares−$7.8MAcquisitions−$3.0MShares issued$1.8M

From profit to cash

N-able: net income to operating cash flow, Q3 2026N-able: net income to operating cash flow, Q3 2026Net income−$4.4MDepreciation & amortization$10.9MStock-based pay$8.8MDeferred taxes$2.2MGains on disposals$36KReceivables$1.5MPayables−$2.6MAccrued liabilities$5.5MDeferred revenue−$1.1MContract assets−$672KPrepaid and other assets$1.4MOther liabilities$1.3MIncome taxes payable$3.7MOperating cash flow$28.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202631—40-9
Q2 202630—45-14
Q1 202633—320
Q4 202534—259
Q3 202532—248
Q2 202532—1814
Q1 202534—1618
Q4 202433—258

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$28.8M−$6.6M−$37.8M−$1.3M$647K$23.3M$22.2M
Q2 2026$26.5M−$9.8M—−$1.0M−$3K$2.0M$16.7M
Q1 2026$17.5M−$1.7M——$3K−$6.0M$15.8M
Q4 2025$25.3M−$4.5M—−$336M—−$10.4M$20.9M
Q3 2025$24.0M−$6.6M−$10.0M——−$7.6M$17.4M
Q2 2025$24.2M−$3.8M—−$875K—$216K$20.4M
Q1 2025$19.7M−$3.3M——$2K−$8.9M$16.4M
Q4 2024$26.0M−$7.2M—−$875K—$89.2M$18.8M

N-able: income statement and cash flow

N-able, Q3 2026: revenue $137M (+5% year over year), operating margin 11.2%. The chart follows the revenue to costs, profit and cash.

N-able: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.