Anaplan (PLAN) Shares Ramp 14% Following Better-Than-Expected Q2 as Subscription Revenue Rises 35%
Anaplan, Inc. (NYSE: PLAN) shares surged more than 14% after-hours following a Q2/22 beat and raise. The company delivered total revenue of $144.3 million, an increase of 35.5% year-over-year, beating the consensus estimate of $133.99 million. Subscription revenue grew 34.6% year-over-year to $130.8 million. The company’s posted non-GAAP EPS of ($0.09) was better than the Street estimate of ($0.14).
The cloud-based business performance software provider raised its full 2022-year revenue guidance to $571.5-573.5 million from $555-$560 million previously. The consensus anticipated 2022 revenue of $558 million. The company expects Q3/22 total revenue to range from $145.5 to $146.5 million, versus the consensus of $142.35 million.
According to Frank Calderoni, the CEO of Anaplan, they are pleased with the strong quarterly performance and are well-positioned to take advantage of the numerous market opportunities with the post-pandemic economy emerging.