Shares of business planning software company Anaplan rise on strong earnings

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Shares of Anaplan Inc. rose late in trading today after the business planning software company reported better-than-expected earnings.

For the quarter ended Jan. 31, Anaplan reported a loss before certain costs of $10.6 million, or 11 cents per share, compared to a loss of $9.4 million, or 7 cents per share, in the same quarter. last year. Revenue rose nearly 33% from a year ago to $162.7 million.

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

Among the highlights of the quarter, Anaplan added new customers including Recognize Bank Ltd., University of Surrey, Glide Student & Residential Ltd. and Vitality. Anaplan said new customers chose them to support finance transformation and agile operations.

The company has also partnered with PR Metrodata Electronics Tbs to provide cloud-based enterprise performance management to its customers in Indonesia. At the end of the quarter, Anaplan had more than 1,900 customers.

For the full year 2022, Anaplan reported an adjusted loss of $40.8 million, or $1.39 per share, on revenue of $592.2 million, up 32 % year over year.

“As we begin the new fiscal year, we are well positioned with our growth strategy and next level of innovation to capitalize on the opportunities ahead,” said Frank Calderoni, CEO of Anaplan, in A declaration. “We deliver immense value to our customers and are committed to providing the most innovative planning solution.”

Looking ahead, Anaplan expects revenue of between $164.5 million and $165.5 million in the first quarter of fiscal 2023. The company did not provide a traditional adjusted earnings figure, instead saying that its adjusted operating margin should be between minus 6.5% and 7.5%. For full fiscal year 2023, Anaplan forecasts revenue of approximately $745 million, up from a previous estimate of $730 million, with an adjusted operating margin of 3.5% to 4.5 %.

Investors liked the numbers. Anaplan shares rose more than 6% after the bell.

Anaplan’s quarterly results come a week after hedge fund Sachem Head Capital Management took a large stake in the company, estimated at around 9%. According to Reutersthe hedge fund may decide to pressure the company to make changes.

Image: Anaplan

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