By Sabela Ojea
Shares of N-able fell to an all-time low after the company's fourth-quarter earnings plunged and it guided for lower-than-expected revenue in the first quarter.
The stock slid 27% to $7.35 in Monday morning trading, the largest percentage decrease on record. Shares are down 46% in the past 12 months.
The provider of cloud-based software solutions posted a net profit of $3.3 million, or 2 cents a share, compared with $9.4 million, or 5 cents a share, for the same period a year earlier.
Total operating expenses rose 12% to $77.2 million, the company said.
Quarterly revenue rose 7.5% to $116.5 million, ahead of the $114 million expected by Wall Street.
For the first quarter, N-able forecasts revenue of $115 million to $116 million, representing a sequential decline from the fourth quarter and coming in below Wall Street expectations of $120.5 million.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
March 03, 2025 11:49 ET (16:49 GMT)
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