Filing Flows › N-able (NABL) › Q4 2025
N-able (NABL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
N-able (NABL) reported revenue of $129M for the fourth quarter 2025 (Q4 2025), +11% from a year earlier and -1% from the quarter before. Operating margin was 9.3%, net loss $7.9M (6.1% of revenue).
N-able, Q4 2025: revenue $129M (+11% year over year), operating margin 9.3%, net loss $7.9M, operating cash flow $25.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $129M | -1% | +11% |
| Operating profit | $12.0M | +11% | — |
| Net earnings | −$7.9M | -962% | — |
| Operating cash flow | $25.3M | +6% | -3% |
| Free cash flow | $18.4M | — | +3% |
What changed
Revenue was $129.2M in Q4 2025, up 11% year over year and down 1% from the previous quarter.
Gross margin was 75.9%, down 4.0 points from a year earlier. Operating profit was $12.0M, a 9.3% margin (down 4.4 points year over year). Operating profit fell $3.9M even though revenue rose $13.0M versus a year earlier, so costs grew faster than sales. Operating expenses grew 12% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+112%). The quarter ended with a net loss of $7.9M, after a profit of $914K the previous quarter. Net interest and other expense of $15.9M was the main reason.
Operating cash flow was $25.3M (down 3% year over year). Non-cash charges added back $11.8M of depreciation and amortization and $10.2M of share-based compensation. Working capital and other items added $11.3M. After purchases of property and equipment ($4.5M) and purchases of intangible assets ($2.5M), free cash flow as the company reports it was $18.4M.
Questions
What was N-able's revenue in the fourth quarter 2025?
N-able (NABL) reported revenue of $129M for the fourth quarter 2025 (Q4 2025), +11% from a year earlier and -1% from the quarter before.
Was N-able profitable in the fourth quarter 2025?
Operating profit was $12.0M (9.3% of revenue) and net loss $7.9M.
Source: N-able 10-K on SEC EDGAR.