Remote monitoring and management (RMM) SaaS provider N-able has reported adjusted earnings for Q3 that it expects will hold it steady to achieve growth of 7% year over year.
Formerly trading as SolarWinds MSP, the software company targets IT services providers with RMM, data protection as a service, and security solutions.
N-able’s financial third quarter ending 30 September 2022 saw subscription revenues up six percent year over year. Total revenues were $93.5 million.
John Pagliuca, president and chief executive of N-able, said that the quarterly results came in above the “high end” of the company’s outlook, for both revenues and profits.
“Our strategy is on track,” he said. “We are helping our partners drive successful, recession-resilient businesses. Our offerings in RMM, data protection, and security are leaders in the market.”
N-able expected MSPs to become mission-critical to SMEs around the world, which meant a partner focus was important.
“We are focused on helping our partners manage everything, secure everything, and accelerate their growth, and my fellow ‘N-ablites’ are driven to fulfil this mission,” Pagliuca said in the results announcement.
N-able is focusing on particular categories of partners, including MSP aggregators and emerging-growth MSPs. Its security and data protection offerings have been growing strongly, according to N-able executive vice president and chief financial officer Tim O’Brien.
“We demonstrated strong cost management in the quarter while continuing to focus investment on growth and strategic initiatives,” O’Brien said.
To continue driving its security and MSP solutions, the company this month appointed a new general manager of security products, Troels Rasmussen.
Mike Adler, chief technology and product officer, said in the announcement: “As attackers and threats adapt, our goal is to provide the widest breadth and depth of security products to our MSP partners from identification to protection, detection, response, and recovery.”
N-able is expected to attend the upcoming managed services summit, Managed Services Summit North, next week on 16 November in Manchester, UK.
( Image by Pete Linforth from Pixabay )
