N-Able Inc - NABL STOCK NEWS

N-able, Inc. (NYSE: NABL) has introduced a new feature, Standby Image, for its Cove Data Protection™ solution, enhancing its cloud-first data protection and disaster recovery capabilities. The feature allows IT service providers to create and manage virtual server images without the need for costly proprietary appliances, promoting efficiency and reducing costs. This innovation addresses the growing ransomware threat and offers a flexible recovery option, ensuring backups are safe and accessible in a secondary location.

N-able, Inc. (NYSE: NABL) has launched N-hanced Services aimed at helping IT service providers optimize their operations and scale service delivery. The new offering addresses industry challenges like labor shortages and cybersecurity threats by providing premium onboarding, premium support, migrations, and custom solutions. These services seek to enhance partner productivity, enabling them to manage complex environments with fewer resources, thereby accelerating return on investment.

N-able, Inc. (NYSE:NABL) reported a first-quarter revenue of $90.9 million, up 9% year-over-year, with subscription revenue increasing by 10%. The company’s dollar-based net retention rate stands at 108%. N-able expects full-year 2022 revenue growth of 9%, or 13-14% in constant currency. Key achievements include the launch of new security solutions and significant growth in cloud-based offerings. The company's GAAP net income is $5.1 million, with an adjusted EBITDA of $27 million, marking a 29.7% margin. Its cash position totals $70.4 million against $338.4 million in debt.

N-able has launched Cove Data Protection™, a cloud-first data protection-as-a-service (DPaaS) solution designed to enhance backup and disaster recovery for IT services providers. This innovative approach addresses the rising challenges from cyberattacks, including ransomware. Cove eliminates the complexities of traditional backup systems by providing a direct-to-cloud method, improving recovery objectives and reducing costs. Cove supports servers, workstations, and Microsoft 365 data, and offers features like frequent backups, a standby virtual server image, and managed cloud storage from 30 data centers.

N-able announced it has earned the Virus Bulletin’s VBSpam+ certification for its Mail Assure solution, achieving a remarkable 99.96% email malware blocking rate without any false positives. This marks N-able's second consecutive VBSpam+ certification, following a strong performance in previous tests. The recent independent test involved 394,101 emails over 19 days, with N-able Mail Assure recognized for its effectiveness in combating email threats, crucial given the significant role of email in malware distribution.

N-able, Inc. (NYSE:NABL) will report its financial results for the first quarter of 2022 on May 12, 2022. The company plans to host a conference call at 8:30 a.m. ET the same day to discuss these results. A live webcast of the call will be available on the N-able Investor Relations website. The earnings release highlighting the Q1 2022 results will be issued prior to the call. N-able focuses on empowering managed services providers with a versatile technology platform.

N-able (NYSE: NABL) announced research revealing a significant rise in cyberattacks targeting managed services providers (MSPs) and their customers. The study indicates that 90% of MSPs experienced a successful cyberattack in the past 18 months, with attacks prevented increasing from six to eleven monthly. Although 82% have seen a rise in attacks on their clients, financial recovery remains a challenge. Despite this, 70% of small to medium enterprises plan to boost their security budgets, presenting a growth opportunity for MSPs. The complete report is available for download.