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Anaplan (PLAN) Q4 Loss Narrower Than Expected, Revenues Up Y/Y

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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%.

Anaplan, Inc. Price, Consensus and EPS Surprise

 

Anaplan, Inc. Price, Consensus and EPS Surprise

Anaplan, Inc. price-consensus-eps-surprise-chart | Anaplan, Inc. Quote

 

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).

Some other top-ranked stocks from the Zacks Computer and Technology sector are Model N (MODN - Free Report) , LivePerson (LPSN - Free Report) and Paycor HCM (PYCR - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Model N has an Earnings ESP of +5.0% and a Zacks Rank #2.

MODN is down 39% in the past year compared with the Zacks Internet - Software industry’s decline of 44.3% and the Computer and Technology sector’s rise of 5.3% in the past year.

LivePerson has an Earnings ESP of +4.69% and a Zacks Rank #2.

LPSN is down 57.2% in the past year against the Zacks Internet – Services industry’s rise of 10.7% and the Computer and Technology sector’s increase of 5.2%.

Paycor HCM has an Earnings ESP of +9.82% and a Zacks Rank #2.

PYCR is up 7.5% in the past year compared with the Zacks Internet – Software industry’s decline of 44.3% and the Computer and Technology sector’s rise of 5.3%.


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