N-able Inc
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 7, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
4. Goodwill and Intangible Assets
- Goodwill and Intangible Assets
The following table reflects the changes in goodwill for the years ended December 31, 2024 and 2023:
| (in thousands) | |
|---|---|
| Balance as of December 31, 2022 | $828,795 |
| Acquisitions | (1,550) |
| Foreign currency translation and other adjustments | 11,252 |
| Balance as of December 31, 2023 | 838,497 |
| Acquisitions | 160,362 |
| Foreign currency translation and other adjustments | (21,846) |
| Balance as of December 31, 2024 | $977,013 |
Intangible Assets
Intangible assets consisted of the following as of December 31, 2024 and 2023:
| December 31, 2024 | December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| GrossCarryingAmount | AccumulatedAmortization | Net | GrossCarryingAmount | AccumulatedAmortization | Net | |
| (in thousands) | ||||||
| Developed product technologies | $107,165 | $(29,509) | $77,656 | $30,441 | $(23,766) | $6,675 |
| Customer relationships | 97,529 | (92,318) | 5,211 | 92,134 | (92,092) | 42 |
| Trademarks | 1,013 | (730) | 283 | 713 | (713) | — |
| Total intangible assets | $205,707 | $(122,557) | $83,150 | $123,288 | $(116,571) | $6,717 |
Intangible asset amortization expense was as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (in thousands) | |||
| Intangible asset amortization expense | $3,798 | $2,436 | $8,330 |
As of December 31, 2024, we estimate aggregate intangible asset amortization expense to be as follows:
| Estimated Amortization | |
|---|---|
| (in thousands) | |
| 2025 | $18,725 |
| 2026 | 18,695 |
| 2027 | 17,473 |
| 2028 | 14,976 |
| 2029 | 13,281 |
| Total amortization expense | $83,150 |
The expected amortization expense is an estimate. Actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, changes in foreign currency exchange rates, impairment of intangible assets, future changes to expected asset lives of intangible assets and other events.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.