Anaplan (PLAN) Stock: Why The Price Dropped Today

By Amit Chowdhry ● Nov 24, 2021
  • The stock price of Anaplan, Inc. (NYSE:PLAN) fell by over 15% pre-market today. This is why it happened.

The stock price of Anaplan, Inc. (NYSE:PLAN) – a provider of a leading cloud-native platform for orchestrating business performance – fell by over 15% pre-market today. Investors are responding negatively to the company’s third quarter fiscal year 2022 financial results.

Q3 Fiscal 2022 Financial Results

— Total revenue was $155.3 million, an increase of 35.2% year-over-year. Subscription revenue was $139.3 million, an increase of 33.1% year-over-year.

— GAAP operating loss was $48.2 million or 31.0% of total revenue, compared to $35.9 million in the third quarter of fiscal 2021 or 31.2% of total revenue. Non-GAAP operating loss was $6.9 million or 4.4% of total revenue, compared to $6.1 million in the third quarter of fiscal 2021 or 5.3% of total revenue.

— GAAP loss per share was $0.28, compared to $0.26 in the third quarter of fiscal 2021. Non-GAAP loss per share was $0.05, flat compared to the third quarter of fiscal 2021.

— Cash and Cash Equivalents were $312.4 million as of October 31, 2021.

Financial Outlook

The company is providing the following guidance for its fourth quarter fiscal 2022:

— Total revenue is expected to be between $154.0 and $155.0 million.

— Non-GAAP operating margin is expected to be between negative 10.0% and 11.0%.

— As a baseline for third quarter, we expect billings to be in the range of $213 million to $214 million.

— The company is updating its previous guidance provided on August 31, 2021 for its full year fiscal 2022:

— Total revenue is expected to be between $583.5 and $584.5 million (was between $571.5 and $573.5 million).

— Non-GAAP operating margin is expected to be between negative 7.5% and 8.5%.

KEY QUOTE:

“With a constantly changing environment, we solve our customers’ complex challenges. I am excited about our innovation with the Anaplan Autonomous Enterprise, which provides a real-time, scalable, and intelligent approach to plan, analyze and act. We delivered another solid quarter and the robust demand for an enterprise-wide planning solution positions us well to capitalize on growth opportunities.”

— Frank Calderoni, chief executive officer of Anaplan

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.