N-able is a SaaS company that sells cybersecurity and IT management software to Managed Service Providers (MSPs), who in turn use the platform to manage and secure the IT environments of their small and mid-sized business clients. N-able's platform spans three pillars: Unified Endpoint Management (UEM), which gives MSPs a centralized dashboard to monitor and manage devices and infrastructure; Security Operations, built around its Adlumin acquisition, which provides AI-powered XDR and MDR capabilities; and Data Protection, anchored by Cove, a cloud-based backup and disaster recovery product that is N-able's largest revenue generator. N-able's business model is "land-and-expand": when an MSP joins the platform, N-able inherits that MSP's existing client base, then grows revenue as the MSP adds clients, those clients add devices, and the MSP adopts additional N-able products. This model is capital-efficient because MSPs perform customer acquisition and support on N-able's behalf. Pricing is subscription-based, with either committed volume contracts or pay-as-you-go options. N-able has been actively migrating customers to annual and multi-year contracts, with over 50% of ARR under longer-term contracts by end of FY25. Growth strategy centers on cross-selling across all three pillars within the existing customer base, expanding into the VAR channel, and embedding AI across the platform. Roughly half of revenue comes from outside the U.S., with the UK, DACH, and Australia as key international markets.