Anaplan, Inc. (PLAN) Tops Q1 EPS by 4c, Revenues Beat; Offers 2Q Revenue Guidance Below Consensus

Anaplan, Inc. (NYSE: PLAN) reported Q1 EPS of ($0.10), $0.04 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $103.8 million versus the consensus estimate of $101.08 million.

First Quarter Fiscal 2021 Financial Results

• Total revenue was $103.8 million, an increase of 37% year-over-year. Subscription revenue was $93.8 million, an increase of 44% year-over-year.
• GAAP operating loss was $38.8 million or 37.3% of total revenue, compared to $37.1 million in the first quarter of fiscal 2020 or 48.9% of total revenue. Non-GAAP operating loss was $13.4 million, or 12.9% of total revenue, compared to $20.1 million in the first quarter of fiscal 2020, or 26.5% of total revenue.
• GAAP loss per share was $0.29, compared to $0.30 in the first quarter of fiscal 2020. Non-GAAP loss per share was $0.10, compared to $0.16 in the first quarter of fiscal 2020.
• Cash and Cash Equivalents were $303.1 million as of April 30, 2020.

1Q Highlights

• First Quarter Subscription Revenue up 44% Year-Over-Year
• Remaining Performance Obligation of $647 million, up 37% Year-Over-Year
• Dollar-Based Net Expansion of 117%

“While our first quarter results reflect the impact of COVID-19, we believe the need for a digital connected planning platform will become even stronger as it is clear that traditional planning no longer works,” said Frank Calderoni, chief executive officer at Anaplan. “We are confident in the demand for our Connected Planning solution as companies look to drive digital change in order to respond and adapt to the rapid pace of change. Our unique calculation engine, committed partner ecosystem, extensive customer base and strong financial position sets us up to drive long-term success.”

GUIDANCE:

Anaplan, Inc. sees Q2 2021 revenue of $103-104 million, versus the consensus of $110.24 million.

The company is providing the following guidance for its second quarter fiscal 2021:

• Total revenue is expected to be between $103 and $104 million.
• Non-GAAP operating margin is expected to be between negative 15.0% and 16.0%.
• As a baseline for second quarter, billings are expected to be in the range of $98 million to $100 million.

With the uncertainty surrounding the ongoing impact of COVID-19 we are withdrawing our previously issued full-year fiscal 2021 guidance provided February 27, 2020.

For earnings history and earnings-related data on Anaplan, Inc. (PLAN) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c