Benzinga | Jul 15, 2021 06:52AM EDT

E2open Misses Q1 Earnings Estimate, Reiterates FY22 Guidance Below Consensus

* E2open Parent Holdings Inc (NYSE:ETWO) reported a first-quarter FY22 non -GAAP revenue growth of 6.9% year-on-year to $88.8 million, beating analyst consensus of $88.39 million.

* Non-GAAP subscription revenue rose 5.6% Y/Y to $73.5 million. Professional services revenue grew 13.3% Y/Y to $15.3 million.

* Non-GAAP gross margin expanded 230 basis points to 73.7%.

* Adjusted EBITDA margin expanded 50 basis points to 32.9%.

* Loss per share of $(0.76) missed analysts' consensus of EPS $0.02.

* The company generated $39.3 million in operating cash flow.

* It held $232.6 million in cash, cash equivalents, and restricted cash at May-end.

* Outlook: E2open reiterated FY22 guidance.

* It sees non-GAAP revenue guidance between $369 million - $371 million, below the analyst consensus of $391.66 million.

* Price action: ETWO shares closed lower by 0.73% at $10.87 on Wednesday.