Business

iE2open Parent Holdings Inc (NYSE: ETWO) Revenue Fell 20.2% to $66.3 Million in Q1 2022

iE2open Parent Holdings Inc (NYSE: ETWO) has given the update for its fiscal first quarter of 2022, providing details about its financial results rather elaborately. In addition, the president and chief executive officer, Michael Farkas, speaks rather elaborately on the performance, terming it a relatively strong one for the company. 

Focusing on financial performance 

Fiscal first-quarter 2022 saw the company attain total GAAP revenue standing at about $66.3 million. The stipulated figure is a 20.2% drop from the earlier performances that stood at $83.1 million in the fiscal first quarter of 2021.

Reports indicated a fiscal first quarter of 2021 with about $83.1 million, a figure that climbed to reach a total non-GAAP revenue of $88.8 million.

iE2open Parent Holdings Inc achieved $51.0 million in subscription revenue for the fiscal first quarter of 2022, a drop from what it got in the prior period, where it reported $69.6 million.

The non-GAAP subscription revenue for fiscal first-quarter 2022 stood at $73.5 million from $69.6 million achieved from the prior fiscal first quarter. The performances indicated a 5.6% rise.

Highlights

The latest update showcases a relatively strong start highlighting gross margin, revenue, EBITDA performance, and subscriptions bookings. iE2open Parent Holdings had earlier disclosed details about what is expected in terms of the operating metrics of gross margin, revenue, gross, EBITDA margin, and net bookings. 

Farkas opines, “We are pleased with our strong financial results for our first quarter, and given the forward revenue visibility of the business, we remain confident that our fiscal year 2022 organic revenue growth will be 10 percent as we have projected and be in excess of 10% in that back half of this year.” 

The leader speaks on behalf of the company, outlining that it is an honor to get the opportunity to work with the BluJay team and clients. 

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