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May 31, 2023
E2open Q1 2024 Earnings Report
E2open's first quarter of fiscal year 2024 financial results were announced, featuring subscription revenue exceeding guidance, strong margins, and high cash flow generation.
Key Takeaways
E2open reported GAAP subscription revenue of $134.9 million, a 4.2% increase year-over-year, representing 84.2% of total revenue. Total GAAP revenue was $160.1 million, a slight decrease of 0.2% year-over-year. The company's GAAP operating cash flow was $36.5 million, compared to $24.9 million in the prior year.
GAAP subscription revenue was $134.9 million, exceeding the high end of Q1 guidance.
Total GAAP revenue was $160.1 million, slightly down by 0.2% year-over-year.
GAAP operating cash flow was $36.5 million, up from $24.9 million year-over-year.
Adjusted EBITDA was $53.8 million, a 4.6% increase year-over-year.
Forward Guidance
E2open is reiterating full year 2024 guidance previously provided on May 1, 2023, and providing second quarter 2024 guidance.
Positive Outlook
- GAAP subscription revenue for fiscal 2024 is expected to be in the range of $545 million to $555 million, reflecting a 3.2% organic growth rate at the mid-point.
- Total GAAP revenue for fiscal 2024 is expected to be in the range of $655 million to $670 million, reflecting a 1.6% organic growth rate at the mid-point.
- GAAP subscription revenue for the fiscal second quarter of 2024 is expected to be in the range of $132 million to $135 million, reflecting a 1.4% organic growth rate at the mid-point.
- Non-GAAP gross profit margin for fiscal 2024 is expected to be in the range of 68% to 70%.
- Adjusted EBITDA for fiscal 2024 is expected to be in the range of $218 million to $228 million, reflecting an implied adjusted EBITDA margin in the range of 33% to 34%.
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