Anaplan reported a loss of 11 cents per share in fourth-quarter fiscal 2022 non-GAAP, missing the Zacks Consensus Estimate of a loss of 12 cents. The company had reported a non-GAAP loss per share of 7 cents in the prior-year quarter. Revenues of $162.7 million beat the Zacks Consensus Estimate by 5.8% and increased 32.8% year over year. Anaplan shares are up 1.8% year to date against the Zacks Internet Software industry’s decline of 29.6% and the Computer & Technology sector’s plunge of 14.2%. Quarterly Details
Subscription revenues (91% of total revenues) increased 31.5% year over year to $148 million.
Revenues from professional services (9% of total revenues) surged 46.8% year over year to $14.6 million. The company’s dollar-based net expansion rate was 118%. Calculated billings increased 28% year over year to $221 million. The remaining performance obligations increased 33.6% year over year to $1.1 billion. Anaplan is now serving 555 customers with more than $250K in annual recurring revenues, up 23% on a year-over-year basis. Operating Details
Non-GAAP gross profit amounted to $117.5 million, up 26.2% year over year. Gross margin, on a non-GAAP basis in the reported quarter, was 72.2%, down 370 basis points (bps) year over year.
The subscription gross margin was 82%. Professional services gross margin was 1%. General & administrative expenses climbed 20.5% year over year to $28.3 million, while sales and marketing expenses rose 19.4% to $99.7 million. Research and development expenses surged 57.1% year over year to $43.3 million. Anaplan’s non-GAAP operating loss was $10.6 million compared with a loss of $9.4 million reported in the year-ago quarter. Balance Sheet & Cash Flow
Total cash and cash equivalents as of Jan 31, 2022, was $299.4 million compared with $312.4 million as of Oct 31, 2021.
Non-GAAP free cash outflow was $21.99 million in the reported quarter. Guidance For first-quarter fiscal 2023, Anaplan expects revenues between $164.5 million and $165.5 million. The company expects a non-GAAP operating margin between negative 6.5% and 7.5%. The first-quarter current remaining performance obligation (cRPO) is expected to be 26% year over year. For fiscal 2023, Anaplan projects revenues to be $745 million. Further, non-GAAP operating margin is anticipated between negative 3.5% and 4.5%. Zacks Rank & Other Stocks to Consider
Currently, Anaplan carries a Zacks Rank #2 (Buy).
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