N-able and MSPAlliance Collaborate to Support MSPs in Cybersecurity Compliance Amid Revenue and Market Share Growth’
Burlington, Mass. ’ N-able, Inc. (NYSE: NABL), a globally recognized software company, has announced a strategic collaboration with MSPAlliance aimed at aiding Managed Service Providers (MSPs) in effectively navigating cybersecurity compliance requirements. This partnership leverages MSPAlliance’s Cyber Verify program to enable MSPs to proactively manage compliance, reflecting a significant step in the ongoing battle against cyber threats.
N-able is renowned for providing IT service providers with remote monitoring, management, data protection as-a-service, and security solutions. The company acknowledges that cybersecurity compliance is not a static milestone but an evolving process requiring continuous updates and improvements. The collaboration with MSPAlliance aims to streamline these efforts for MSPs, ensuring that they are equipped with the latest research, knowledge, and tools to maintain compliance and safeguard their operations and clients.
This alliance comes at a time when N-able is demonstrating considerable financial growth. In the first quarter of 2024, N-able reported a 13.66% year-on-year increase in revenue. Despite this impressive growth, it still falls slightly below the average revenue growth of 17.66% reported by its competitors during the same period. Nevertheless, N-able stands out with a net margin of 6.57%, which is higher than the industry average, showcasing its superior profitability.
Additionally, N-able’s net income surged by 110.68% year-on-year in the first quarter of 2024, outpacing its competitors significantly. This robust financial performance has also resulted in an increase in market share, growing from Q4 2023 to Q1 2024 and culminating in a market share of 30.12% over the past 12 months.
N-able’s collaboration with MSPAlliance and its strong financial performance underscore its commitment to both supporting the MSP community in cybersecurity efforts and maintaining a competitive edge in the market. As the landscape of cybersecurity compliance continues to evolve, N-able’s proactive measures and strategic partnerships are likely to play a crucial role in setting industry standards and ensuring the resilience of IT service providers.
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