Anaplan Announces Fourth Quarter and Full Fiscal Year 2021 Financial Results

Rhea-AI Summary

Anaplan, Inc. (NYSE:PLAN) reported its fourth quarter and full fiscal year results for FY21, with total revenue of $122.5 million in Q4, a 25% increase year-over-year. Subscription revenue rose to $112.6 million, up 26% from last year. The company posted a GAAP operating loss of $41.5 million in Q4, improving from a loss of $37.6 million in the prior year. For FY21, total revenue reached $447.8 million, up 29%, with a GAAP loss per share of $1.10. Looking ahead, Anaplan anticipates Q1 FY22 revenue between $126.5 million and $127.5 million and has updated its FY22 guidance to $550-$555 million.

Positive

• Q4 total revenue grew 25% year-over-year to $122.5 million.
• Subscription revenue increased 26% year-over-year to $112.6 million.
• FY21 total revenue was $447.8 million, a 29% increase from FY20.
• GAAP loss per share improved to $1.10 from $1.15 in FY20.
• Strategic collaboration with Amazon Web Services to deliver Anaplan platform.

Negative

• GAAP operating loss was $41.5 million in Q4, though improved from last year.
• Anticipated non-GAAP operating margin is negative for Q1 FY22.

Anaplan, Inc. (NYSE:PLAN), provider of a leading cloud-native platform for orchestrating business performance, today announced financial results for its fourth quarter and full fiscal year ended January 31, 2021.

“We delivered solid execution in FY21 with steady new customer growth this quarter,” said Frank Calderoni, chief executive officer of Anaplan. “We are seeing a rising demand for rapid scenario-based planning as our customers are looking for the best way to plan for an uncertain and unpredictable future.”

Fourth Quarter Fiscal 2021 Financial Results

• Total revenue was $122.5 million, an increase of 25% year-over-year. Subscription revenue was $112.6 million, an increase of 26% year-over-year.

• GAAP operating loss was $41.5 million or 33.8% of total revenue, compared to $37.6 million in the fourth quarter of fiscal 2020 or 38.3% of total revenue. Non-GAAP operating loss was $9.4 million, or 7.7% of total revenue, compared to $11.0 million in the fourth quarter of fiscal 2020, or 11.2% of total revenue.

• GAAP loss per share was $0.29, compared to $0.27 in the fourth quarter of fiscal 2020. Non-GAAP loss per share was $0.07 in the fourth quarter of fiscal 2021 and fiscal 2020.

• Cash and Cash Equivalents were $321.0 million as of January 31, 2021.

Full Year Fiscal 2021 Financial Results

• Total revenue was $447.8 million, an increase of 29% year-over-year. Subscription revenue was $408.2 million, an increase of 33% year-over-year.

• GAAP operating loss was $153.8 million or 34.3% of total revenue, compared to $148.4 million in fiscal 2020 or 42.7% of total revenue. Non-GAAP operating loss was $38.5 million, or 8.6% of total revenue, compared to $56.5 million in fiscal 2020, or 16.2% of total revenue.

• GAAP loss per share was $1.10, compared to $1.15 in fiscal 2020. Non-GAAP loss per share was $0.27, compared to $0.44 in fiscal 2020.

Financial Outlook

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

• Total revenue is expected to be between $126.5 and $127.5 million.
• Non-GAAP operating margin is expected to be between negative 9.5% and 10.5%.
• As a baseline for first quarter, we expect billings to be in the range of $122 million to $124 million.

The company is updating its previous guidance provided on November 24, 2020 for its full year fiscal 2022:

• Total revenue is expected to be between $550 and $555 million (was approximately $550 million).
• Non-GAAP operating margin is expected to be between negative 8.0% and 9.0%.

The guidance provided above are forward-looking statements and actual results may differ materially. Refer to the “Forward-Looking Statements” safe harbor section below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.

The section titled “Non-GAAP Financial Measures” below contains a description of the non-GAAP financial measures used in this press release, definitions of our operating metrics and a reconciliation of GAAP and non-GAAP financial measures is contained in the tables below. A reconciliation of non-GAAP measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, costs and expenses, including the impact of stock-based compensation, which is dependent on factors such as future stock price and volume of equity awards granted in the future, that may be incurred in the future and therefore, cannot be reasonably predicted. The effect of these excluded items may be significant.

Recent Highlights

• Anaplan announced a strategic collaboration with Amazon Web Services to deliver the Anaplan platform on AWS.
• Bill Schuh joined Anaplan as Chief Revenue Officer.
• Anaplan appointed Brooke Major-Reid to its Board of Directors.
• Anaplan was named a Leader in IDC MarketScape for Enterprise Performance Management.

Webcast and Conference Call Information

Event: Anaplan Fourth Quarter and Full Fiscal Year 2021 Earnings Conference Call
When: Thursday, February 25, 2021
Time: 5:30 a.m. PT / 8:30 a.m. ET
Live Call: Please see online registration
Replay: (800) 585-8367 or (416) 621-4642 with passcode 4093584
Live Webcast: https://investors.anaplan.com or with replay available for 12 months

Upcoming Investor Events

Anaplan management will be participating in the following investor conference:

Morgan Stanley Technology, Media and Telecom Conference
Wednesday, March 3, 2021
1:15pm PT/4:15pm ET

Interested parties can listen to the live audio webcast of Anaplan’s presentations available on Anaplan’s Investor Center website at { "@context": "https://schema.org", "@type": "FAQPage", "name": "Anaplan Announces Fourth Quarter and Full Fiscal Year 2021 Financial Results FAQs", "mainEntity": [ { "@type": "Question", "name": "What were Anaplan's earnings results for Q4 FY21?", "acceptedAnswer": { "@type": "Answer", "text": "Anaplan reported total revenue of $122.5 million for Q4 FY21, a 25% increase year-over-year." } }, { "@type": "Question", "name": "What is Anaplan's guidance for Q1 FY22?", "acceptedAnswer": { "@type": "Answer", "text": "Anaplan expects total revenue between $126.5 million and $127.5 million for Q1 FY22." } }, { "@type": "Question", "name": "How did Anaplan perform financially in FY21?", "acceptedAnswer": { "@type": "Answer", "text": "Anaplan achieved total revenue of $447.8 million in FY21, up 29% year-over-year." } }, { "@type": "Question", "name": "What is Anaplan's forecast for FY22 total revenue?", "acceptedAnswer": { "@type": "Answer", "text": "Anaplan has updated its FY22 guidance to a total revenue expectation of $550 to $555 million." } }, { "@type": "Question", "name": "What was Anaplan's GAAP loss per share for FY21?", "acceptedAnswer": { "@type": "Answer", "text": "Anaplan reported a GAAP loss per share of $1.10 for FY21, an improvement from $1.15 in FY20." } } ] }

FAQ

What were Anaplan's earnings results for Q4 FY21?

Anaplan reported total revenue of $122.5 million for Q4 FY21, a 25% increase year-over-year.

What is Anaplan's guidance for Q1 FY22?

Anaplan expects total revenue between $126.5 million and $127.5 million for Q1 FY22.

How did Anaplan perform financially in FY21?

Anaplan achieved total revenue of $447.8 million in FY21, up 29% year-over-year.

What is Anaplan's forecast for FY22 total revenue?

Anaplan has updated its FY22 guidance to a total revenue expectation of $550 to $555 million.

What was Anaplan's GAAP loss per share for FY21?

Anaplan reported a GAAP loss per share of $1.10 for FY21, an improvement from $1.15 in FY20.