September 30, 2022

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Shares in business planning software company Anaplan rise on strong earnings report

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Shares in business planning software company Anaplan Inc. were up in late trading after it reported better-than-expected earnings in its latest earnings report.

For the quarter ending Jan. 31, Anaplan reported a non-generally accepted accounting principles loss of $ 10.6 million or 11 cents per share compared to a loss of $ 9.4 million or seven cents per share in the same quarter last year. Revenue came in at $ 162.7 million, up 32.8% year-over-year.

Analysts had expected a loss of 12 cents per share on revenue of $ 154.6 million.

Highlights in the quarter included Anaplan signing up new customers, including Recognise Bank Ltd., The University of Surrey, Glide Student & Residential Ltd. and Vitality. Anaplan said the new customers picked them up to support financial transformation and agile operations. Anaplan also partnered with PR Metrodata Eleconics Tbs to deliver cloud-based enterprise performance management to customers in Indonesia. As of the end of the quarter, Anaplan had over 1,900 customers.

For the full fiscal year 2022, Anaplan reported a non-GAAP loss of $ 40.8 million or $ 1.39 per share on revenue of $ 592.2 million, up 32.3% year-over-year.

“As we start the new fiscal year, we are well-positioned with our growth strategy and the next level of innovation to take advantage of the opportunities ahead,” Frank Calderoni, chief executive officer of Anaplan, said in a statement. “We offer immense value to our customers and are committed to delivering the most innovative planning solution.”

Looking forward, Anaplan predicted revenue of between $ 164.5 million in its fiscal 2023 first quarter. The company did not provide a traditional non-GAAP income or EPS figure, instead saying that their non-GAAP operating margin is expected to be between negative 6.5% and 7.5%. For the full fiscal year 2023, Anaplan predicted revenue of around $ 745 on a non-GAAP operating margin of between 3.5% to 4.5%.

Despite the somewhat vague outlook, investors liked the numbers. Anaplan shares were up 6.32% after the bell to be sitting at $ 49.62 as of 8 pm EST.

Anaplan’s quarterly results come a week after the hedge fund Sachem Head Capital Management took a significant stake in the company – believed to be around 9%. According to Reuters, the hedge fund may decide to press the company to make changes.

Image: Anaplan

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