During 2022, the first full year that SolarWinds spin off N-able functioned as a standalone company, the software vendor reported increased revenue and profits and its top three executives were rewarded with more than $11 million in combined total compensation.
The most highly compensated executive, CEO John Pagliuca, reported more than $6 million in total compensation, mostly in the form of stock awards, according to a proxy filing on April 12.
In 2022, Burlington, Mass.-based N-able reported total revenue of $371.8 million, representing about seven percent year-over-year growth. It saw subscription revenue of $362.6 million, about eight percent year-over-year growth, a GAAP gross margin of 84.2 percent and non-GAAP gross margin of 85.2 percent and a GAAP net income of $16.7 million.
N-able’s fiscal year begins on January 1 and ends on December 31.
The software vendor serves more than 25,000 MSPs and manages more than eight million endpoints.ADVERTISEMENT
In 2022 N-able had about 1,400 employees but laid off about 70 team members in December due to restructuring efforts. The layoffs took place across the company but were not focused on a particular discipline, business or location.
Here are the three most highly compensated executives at N-able.
Michael Adler
Executive Vice President, Chief Technology and Product Officer
Total Fiscal Year 2022 Compensation: $2,288,784
Total Fiscal Year 2021 Compensation: $2,868,432
Adler joined N‑able in 2021 and brings 20 years of experience building software platforms and solutions for customers of all sizes. As the chief technology and product officer, he is responsible for the global technology and product organization. He previously held executive roles at RSA, Constant Contact and Symantec.
For fiscal tear 2022, Adler’s salary was $2,288,784. His non-equity incentive plan compensation was $272,000. Other compensation of $12,200 and stock awards totaling $1,606,250, down from $2,291,475 in 2021, brought Adler’s total compensation to $2,868,432
Tim O’Brien
Chief Financial Officer
Total Fiscal Year 2022 Compensation: $3,067,353
Total Fiscal Year 2021 Compensation: $4,076,795
Tim O’Brien has been N-able’s CFO since 2020 and joined N‑able through the acquisition of LOGICnow, where he served as director of finance and operations. Prior to LOGICnow, he held finance positions at both Airvana and Teradyne.
For Fiscal Year 2022, O’Brien’s salary was $3,067,353. His non-equity incentive plan compensation was $241,400. Other compensation of $12,200 and stock awards totaling $2,462,919, down from $3,437,200 in 2021, brought O’Brien’s total compensation to $3,067,353.
John Pagliuca
President and CEO
Total Fiscal Year 2022 Compensation: $6,259,737
Total Fiscal Year 2021 Compensation: $9,486,833
Pagliuca has served as president chief executive officer of N‑able since 2020 after serving as executive vice president of SolarWinds and president of SolarWinds MSP. He joined SolarWinds from a LOGICNow acquisition where he served as chief financial officer. Before joining LOGICNow, he was the vice president of finance and operations of GFI Software and before that, the vice president of finance for mobile data software company Airvana.
For Fiscal Year 2022, Pagliuca’s salary was $6,259,737. His non-equity incentive plan compensation was $412,250. Other compensation of $9,975 and stock awards totaling $5,354,179, down from $8,593,025 in 2021, brought Pagliuca’s total compensation to $6,259,737. LEARN MORE: Remote Monitoring
CJ Fairfield is an associate editor at CRN covering solution providers, MSPs and distributors. Prior to joining CRN, she worked at daily newspapers, including The Press of Atlantic City in New Jersey and The Frederick News-Post in Maryland. She can be reached at [email protected].
RELATED CONTENT
TO TOPADVERTISEMENT
TRENDING STORIES
- Google Vs. Amazon Vs. Microsoft: Q1 Cloud Earnings Face-Off | CRN
- Tech Company Layoffs In 2023: The Cuts Continue In Second Quarter | CRN
- Bain Capital Eliminated As ConnectWise Moves To Next Phase Of Buyout Process: Sources | CRN
- Terry Richardson On Why He Left AMD, GreenPages’ Technology Chops, And The AI Opportunity | CRN
- 10 Cool New Cybersecurity Tools Announced At RSAC 2023 | CRN