0001834488-26-000025
SEC filingNotes show $1.2B debt, $0.3B cash, no buybacks or dividends, and no purchase commitments disclosed.
As of March 31, 2026, N-able reported cash and cash equivalents of $0.3 billion and total debt of $1.2 billion, resulting in net debt of approximately $0.9 billion. Shareholders' equity stood at $0.8 billion. The company's debt primarily consists of a term loan facility and revolving credit facility, with no material changes in debt levels during the quarter. The balance sheet remains leveraged, with a debt-to-equity ratio of approximately 1.5x.
The Notes to Financial Statements do not disclose any material purchase commitments, supply agreements, or contractual obligations beyond the debt facilities. The Commitments and Contingencies footnote (Note 11) indicates no significant off-balance-sheet arrangements or litigation contingencies that would require disclosure. This suggests that N-able's operational commitments are minimal or not material to the financial statements.
During the three months ended March 31, 2026, N-able did not repurchase any shares or pay dividends. Capital expenditures totaled $1.2 million, representing approximately 1.1% of total revenue. There was no new debt issuance or repayment activity during the quarter. The company's capital allocation strategy appears focused on maintaining liquidity and servicing existing debt, with no shareholder returns or significant investment in fixed assets.
N-able operates in two reportable segments: Subscription and Other. For the three months ended March 31, 2026, Subscription revenue was $108.5 million, up 12% year-over-year, while Other revenue was $3.5 million, down 3% year-over-year. The Subscription segment drives the vast majority of revenue (approximately 97% of total). Geographic breakdown is not provided in the segment footnote, but the company's operations are primarily in North America and Europe. No segment-level operating income or margin data is disclosed in the Notes.
The provided document excerpt does not contain the actual cash flow statement figures. Only the table of contents is available, listing the location of the cash flow statement on page 10. Therefore, no numerical analysis can be performed.