Wed, Jul 10, 8:23 PM (59 days ago)
E2open Parent Holdings, Inc. reported a net loss of $42.8 million for the quarter ended May 31, 2024, a significant improvement from the $360.9 million loss in the same period last year. Revenue fell by 6% to $151.2 million, driven by a 3% decrease in subscription revenue and a 22% decline in professional services revenue. Gross profit decreased by 9% to $72.7 million, with gross margins dropping from 50% to 48%. Operating expenses were down significantly due to the absence of a $410 million goodwill impairment and a $4 million intangible asset impairment from the prior year. Adjusted EBITDA was $50.7 million, slightly down from $53.8 million, with an unchanged margin of 34%. Cash flow from operations was $35.9 million, and the company held $160.2 million in cash and equivalents, with $155 million in unused credit facilities.