N-able, Inc. (NYSE:NABL) Q2 2024 Earnings Call Transcript August 8, 2024 8:30 AM ET

Company Participants

Griffin Gyr - Investor Relations
John Pagliuca - President and Chief Executive Officer
Tim O'Brien - Executive Vice President & Chief Financial Officer

Conference Call Participants

Mike Richards - RBC Capital Markets
Jason Ader - William Blair
Charlotte Bedick - J.P. Morgan
Mike Cikos - Needham

Operator

Welcome to the N-able Second Quarter 2024 Earnings Call. My name is Sam and I will be coordinating your call today.

I will now hand you over to your host, Griffin Gyr, to begin. Griffin, please go ahead.

Griffin Gyr

Thanks, operator, and welcome everyone to N-able's second quarter 2024 earnings call. With me today are John Pagliuca, N-able's President and CEO, and Tim O'Brien, EVP and CFO.

Following our prepared remarks, we will open the line for a question and answer session. This call is being simultaneously webcast on our Investor Relations website at investors.nable.com. There you can also find our earnings press release, which is intended to supplement our prepared remarks during today's call.

Certain statements made during this call are for looking statements, including those concerning our financial outlook, our market opportunities, and the impact of the global economic environment on our business. These statements are based on currently available information and assumptions, and we undertake no duty to update this information except as required by law. These statements are also subject to a number of risks and uncertainties, including those highlighted in today's earnings release and our filings with the SEC. Additional information concerning these statements and the risks and uncertainties associated with them are highlighted in today's earnings release and in our filings with the SEC. The copies are available from the SEC or on our Investor Relations website.

Furthermore, we will discuss various non-GAAP financial measures on today's call. Unless otherwise specified, when we refer to financial measures, we will be referring to non-GAAP financial measures. A reconciliation of certain GAAP and non-GAAP financial measures discussed on today's call is available in our earnings press release on our Investor Relations website.

And now, I will turn the call over to John.

John Pagliuca

Thank you, Griffin, and welcome to everyone joining us on the call. Today, I will discuss our second quarter results, our progress on top business objectives, and share an update on the market environment and other strategic initiatives. Let's start with our results, where we exceeded the high end of our top and bottom line guidance. Revenue was $119.4 million, growing approximately 13% year-over-year on a reported and on a constant currency basis, and adjusted EBITDA was $46.8 million, representing an adjusted EBITDA margin of 39%. This marks our seventh consecutive quarter operating north of the Rule of 45 on a constant currency revenue growth and adjusted EBITDA basis.