Filing Flows › N-able (NABL) › Q2 2025
N-able (NABL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
N-able (NABL) reported revenue of $131M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +11% from the quarter before. Operating margin was 7.1%, net loss $4.6M (3.5% of revenue).
N-able, Q2 2025: revenue $131M (+10% year over year), operating margin 7.1%, net loss $4.6M, operating cash flow $24.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $131M | +11% | +10% |
| Operating profit | $9.3M | +461% | — |
| Net earnings | −$4.6M | — | — |
| Operating cash flow | $24.2M | +23% | -11% |
| Free cash flow | $17.4M | — | -21% |
What changed
Revenue was $130.5M in Q2 2025, up 10% year over year and up 11% from the previous quarter.
Gross margin was 78.0%, down 5.8 points from a year earlier. Operating profit was $9.3M, a 7.1% margin (down 10.4 points year over year). Operating profit fell $11.5M even though revenue rose $12.2M versus a year earlier, so costs grew faster than sales. Operating expenses grew 18% against revenue growth of 10%. The fastest-growing cost line was Sales & marketing (+29%). The quarter ended with a net loss of $4.6M, narrower than the previous quarter's $7.2M loss. Net interest and other expense of $8.9M was the main reason.
Operating cash flow was $24.2M (down 11% year over year). Non-cash charges added back $10.9M of depreciation and amortization and $12.9M of share-based compensation. Working capital and other items added $5.0M. After purchases of property and equipment ($3.8M) and purchases of intangible assets ($3.0M), free cash flow as the company reports it was $17.4M.
Questions
What was N-able's revenue in the second quarter 2025?
N-able (NABL) reported revenue of $131M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +11% from the quarter before.
Was N-able profitable in the second quarter 2025?
Operating profit was $9.3M (7.1% of revenue) and net loss $4.6M.
Source: N-able 10-Q on SEC EDGAR.