Anaplan reported first-quarter fiscal 2022 adjusted loss of 10 cents per share, wider than the Zacks Consensus Estimate of a loss of 9 cents. However, the figure was year over year.
Revenues of $129.8 million beat the Zacks Consensus Estimate by 2.2% and improved 25% year over year.
The top-line performance can primarily be attributed to healthy customer growth and strength of bookings from existing customers. The company’s partnerships with the likes of Alphabet’s (GOOGL - Free Report) Google Cloud and Amazon’s (AMZN - Free Report) cloud computing arm Amazon Web Services also expanded its footprint.
Quarterly Details
Subscription revenues (91.2% of total revenues) increased 26.1% year over year to $118.3 million.
Revenues from professional services (8.8% of total revenues) climbed 14.6% year over year to $11.5 million.
The company’s dollar-based net expansion rate (NRR) was 118%.
Notably, calculated billings in the fiscal first quarter were $127 million, up 32% year over year. Moreover, Remaining Performance Obligation (RPO) increased 29% year over year to $832.3 million.
Anaplan is now serving 473 customers with more than $250K in annual recurring revenues, up 29% on a year-over-year basis. The company ended the quarter with more than 1700 customers.
Operating Details
Non-GAAP gross margin was 76.9%, down 80 basis points (bps) year over year. Subscription gross margin was 83.6%, down 130 bps year over year. Services gross margin was 7.9%, down 230 bps from the year-ago quarter.
General & administrative expenses climbed 11.2% year over year to $24.9 million, while sales and marketing expenses rose 23.4% to $88.5 million. Additionally, research and development expenses surged 39.8% year over year to $33.2 million.
Anaplan’s non-GAAP operating loss was $12.4 million compared with loss of $13.4 million reported in the year-ago quarter.
Balance Sheet & Cash Flow
Total cash and cash equivalents as of Apr 31, 2021, was $327.5 million compared with $321 million as of Jan 31, 2021.
Non-GAAP free cash was $7.6 million in the quarter.
Key Announcements
Anaplan announced that its CFO David H Morton Jr. will step down from his position once a successor is hired.
Moreover, Anaplan was recognized by TrustRadius as “2021 Top Rated Sales Performance Management Software.”
Guidance
For second-quarter fiscal 2022, Anaplan expects revenues between $133.5 million and $134.5 million. Services revenues are estimated to be $10.5-$11.5 million.
Further, the company expects non-GAAP operating margin between negative 14% and 15%.
Billings are anticipated between $138 million and $140 million, suggesting year-over-year growth of 27-29%.
For fiscal 2022, Anaplan projects revenues to be $555-$560 million. Further, non-GAAP operating margin is anticipated between negative 8% and 9%.
Additionally, the company expects to benefit from a widening customer base and the expansion into the automotive sector as a key industry.
Zacks Rank & a Key Pick
Anaplan carries a Zacks Rank #3 (Hold).
Zoom Video Communications (ZM - Free Report) with a Zacks Rank #2 (Buy) is a stock worth considering in the broader technology sector. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zoom is set to report its first-quarter fiscal 2022 results on Jun 1.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Anaplan reported first-quarter fiscal 2022 adjusted loss of 10 cents per share, wider than the Zacks Consensus Estimate of a loss of 9 cents. However, the figure was year over year.
Revenues of $129.8 million beat the Zacks Consensus Estimate by 2.2% and improved 25% year over year.
The top-line performance can primarily be attributed to healthy customer growth and strength of bookings from existing customers. The company’s partnerships with the likes of Alphabet’s (GOOGL - Free Report) Google Cloud and Amazon’s (AMZN - Free Report) cloud computing arm Amazon Web Services also expanded its footprint.
Quarterly Details
Subscription revenues (91.2% of total revenues) increased 26.1% year over year to $118.3 million.
Revenues from professional services (8.8% of total revenues) climbed 14.6% year over year to $11.5 million.
The company’s dollar-based net expansion rate (NRR) was 118%.
Notably, calculated billings in the fiscal first quarter were $127 million, up 32% year over year. Moreover, Remaining Performance Obligation (RPO) increased 29% year over year to $832.3 million.
Anaplan is now serving 473 customers with more than $250K in annual recurring revenues, up 29% on a year-over-year basis. The company ended the quarter with more than 1700 customers.
Operating Details
Non-GAAP gross margin was 76.9%, down 80 basis points (bps) year over year. Subscription gross margin was 83.6%, down 130 bps year over year. Services gross margin was 7.9%, down 230 bps from the year-ago quarter.
General & administrative expenses climbed 11.2% year over year to $24.9 million, while sales and marketing expenses rose 23.4% to $88.5 million. Additionally, research and development expenses surged 39.8% year over year to $33.2 million.
Anaplan’s non-GAAP operating loss was $12.4 million compared with loss of $13.4 million reported in the year-ago quarter.
Balance Sheet & Cash Flow
Total cash and cash equivalents as of Apr 31, 2021, was $327.5 million compared with $321 million as of Jan 31, 2021.
Non-GAAP free cash was $7.6 million in the quarter.
Key Announcements
Anaplan announced that its CFO David H Morton Jr. will step down from his position once a successor is hired.
Moreover, Anaplan was recognized by TrustRadius as “2021 Top Rated Sales Performance Management Software.”
Guidance
For second-quarter fiscal 2022, Anaplan expects revenues between $133.5 million and $134.5 million. Services revenues are estimated to be $10.5-$11.5 million.
Further, the company expects non-GAAP operating margin between negative 14% and 15%.
Billings are anticipated between $138 million and $140 million, suggesting year-over-year growth of 27-29%.
For fiscal 2022, Anaplan projects revenues to be $555-$560 million. Further, non-GAAP operating margin is anticipated between negative 8% and 9%.
Additionally, the company expects to benefit from a widening customer base and the expansion into the automotive sector as a key industry.
Zacks Rank & a Key Pick
Anaplan carries a Zacks Rank #3 (Hold).
Zoom Video Communications (ZM - Free Report) with a Zacks Rank #2 (Buy) is a stock worth considering in the broader technology sector. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zoom is set to report its first-quarter fiscal 2022 results on Jun 1.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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