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N-able’s Security Revenue Faces Decline as License Portability Undercuts MSP Margins
The episode details a structural shift for MSPs and IT service providers: the separation of security license resale from the value of human-led security services, and the resulting pricing and margin risks. Companies like N-able, SentinelOne, and SonicWall exemplify how technology offerings and delivery mechanisms are forcing providers to re-examine what differentiates their services beyond the products they resell.
N-able’s financial results illustrate the risk of relying on product-based security revenue. The company reported a drop in annual recurring revenue, driven by lower renewal rates…
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