E2open Parent Holdings Inc. (NASDAQ: ETWO) stock gained by 2.05% at the last close whereas the ETWO stock price declines by 4.01% in the after-hours trading session. They are building a more connected, intelligent supply chain at E2open. Sensing and acting to user needs, supply, and delivery limitations is the first step.
ETWO stock’ Financial Update
E2open Parent Holdings announced financial results for second-quarter fiscal 2022. Given below are the highlights.
- Net GAAP revenue for the second quarter of fiscal 2022 was $78.1 million, down 4.6 percent from $81.8 million in Q2 of fiscal 2021. Total non-GAAP revenue was $92.3 million, up from $81.8 million in the fiscal second quarter of 2021, a 12.8 percent gain. E2open exceeded expectations by achieving a double-digit organic growth rate a quarter ahead of schedule.
- For Q2 fiscal 2022, the gross margin was 49.3% while for the same time period in the previous year, it was 63.1%.
- Cash generated through operational activities was calculated as $41.5 million, whereas it was $42.0 million for the second quarter of fiscal 2021.
E2open is confirming its non-GAAP revenue estimate, which it raised in connection with the BluJay shutdown on September 1, 2021, as of October 13, 2021. E2open is also increasing its estimate for adjusted EBITDA for the entire fiscal year 2022, which ends February 28, 2022.
- Net non-GAAP revenue is projected to be in the $470 million to $474 million range, representing a growth rate of more than 10%.