Corporate GovernanceAug 10, 2026, 07:22 AM
N-able Identifies Material Weakness in Internal Controls
AI Summary
N-able, Inc. filed an Amendment No. 1 to its 2025 Annual Report on Form 10-K to disclose a material weakness in its internal control over financial reporting as of December 31, 2025. This weakness, related to manual revenue recognition processes, led to an adverse opinion from its auditor, PwC, on the effectiveness of internal controls. While the weakness resulted in immaterial errors in subscription revenue and related balance sheet accounts, the company confirmed these errors were not material to previously issued financial statements, which remain reliable. The amendment restates Part II, Item 9A, Controls and Procedures, and revises other sections.
Key Highlights
- Filed Amendment No. 1 on Form 10-K/A for fiscal year ended December 31, 2025.
- Identified a material weakness in internal control over financial reporting.
- Auditor PwC issued an adverse opinion on internal control effectiveness.
- Disclosure controls and procedures were not effective as of December 31, 2025.
- Immaterial errors in subscription revenue and balance sheet accounts identified.
- Previously issued financial statements remain reliable and are not restated.
- No incentive-based compensation recovery required due to errors.
- Amends Part II, Item 9A, Controls and Procedures, and other sections.
Price Impact
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